Lumenore, a unified business intelligence and analytics platform plans to invest $820,000 in the UAE over the next 18 to 24 months.
Moreover, Lumerore, which has set Dubai as a home ground, plans to further expand into the Middle East. The company wants to utilise the resources that are already available in the UAE. It is also partnering with a UAE-based academy to utilise the existing knowledge base in the country, said Naren Vijay, Executive VP Growth, Lumenore.
Discussing the best practices for managing data, challenges that organisations face and the business benefits of a successful data management strategy at a recently held media event in Dubai, Vijay and Donald Farmer, strategic advisor of Lumenore and an internationally acclaimed speaker in data management and analytics, said Lumenore will play an important role in the UAE and wider region in data collection and management, as it wants to create new tools for data management and analytics that empower all stakeholders in an organisation to be able to make decisions, regardless of their level of expertise.
Vijay said, “We are expecting 20 per cent growth in intelligence platform adoption by UAE-based companies year on year, as modern data analytics technology adoption is catching up with data collection and data management software.”
He added: “UAE is one of the leading knowledge economies in the world. More than 50 per cent of graduates in the UAE earn degrees in data science. The country also has universities and companies already investing in advanced data science.”
Data increasingly is seen as a corporate endowment that can be used to make more-informed business decisions, optimise business operations, and reduce costs, all to boost revenue and profits. But a lack of proper data management can burden organisations with incompatible data silos, inconsistent data sets and data quality problems that limit their ability to run business intelligence (BI) and analytics applications.
Farmer stressed the importance of data analytics in decision making for businesses. He said: “Data has no value until it is used. In today’s time, data is available in abundance; however, most of us fail to use it best or don’t have the right knowledge to channel and monetise it.”
Vijay further added: “Lumenore promises businesses an all-in-one platform for their Data Analytics needs. It provides no-code and low-code solutions for developers and managers to focus on their core product. It can do this without sacrificing investing in a comprehensive data analytics infrastructure for their company to accelerate the time to market for their products.”
