Photo - Andrew Tan, Managing Director, SAS Malaysia
Business analytics firm SAS Malaysia's 2013 software revenue recorded a 38.1 percent year-on-year increase over 2012, fuelled mainly by the demand for analytics solutions from the country's oil and gas sector, it said.
SAS Malaysia managing director Andrew Tan said software revenue reached RM13.9 million [US$4.21 million] and a 13.4 percent growth in total software revenue to RM41.1 million [US$12.44 million]. This strong growth marks a total revenue of RM 49.1 million [US$14.86 million] in SAS Malaysia's year-on-year turnover for the year 2013.
Meanwhile, sales revenue across the various products and solutions from SAS developed positively, with the SAS Business Analytics platform posting the highest increase in sales to RM8.4 million [US$3.54 million], said Tan. Revenue growth to RM3.5 million [US$1.06 million] was also noted in risk management, a solution, which is based on SAS software's core functionality which covers the entire spectrum of risk types including market, credit, and liquidity risk.
"The strong growth recorded on the sales of analytics solutions continues to demonstrate that data is an asset of growing importance to organisations," he said. "Over the last two years, SAS has delivered ground-breaking analytics technology which unlocks the value of data and we are poised to grow to new heights on the back of robust demand for SAS Malaysia's powerful analytics tools - particularly in the business analytics platform -both from the public and private sectors".
He said SAS Malaysia's annual software revenue growth "was mainly fuelled by the oil and gas industry where streamlined, automated processes were introduced to help the industry predict and prevent machinery failure, as well as make strategic decisions faster and more accurately than their competitors. SAS' oil and gas software provides an integrated energy portfolio and risk management framework ranging from energy trading and risk management, credit risk management, trade surveillance, and regulatory compliance reporting."
Demand for visual analytics
Tan said another important driver behind the revenue growth was the demand for analytics via SAS Visual Analytics, "a new data visualisation software that brings business threats and opportunities into sharp focus. This was driven by sales particularly in the banking and telecommunication sectors. The still-growing customer base includes its partnership with U Mobile in April 2013, where the strategic business move allowed the most dynamic and innovative 3G mobile operator's executives to immediately access real-time consumer behavior data for significantly more informed business decisions."
"SAS Malaysia currently stands with more than 160 corporate clients across sectors in Malaysia that uses SAS analytics solutions," he said. "The market is changing rapidly and more companies are looking to analytics to provide them with visibility and clarity on the vast information that runs through their business in making more cost-effective decisions."
He said the company will move focus in customer intelligence solutions to help banks, telecommunications, airlines and e-commerce companies in the coming year. In addition, fraud will be a new era of focus for SAS Malaysia this year with new solutions to help close loopholes in combatting financial crimes.
Tan said the coming year bodes well for analytics, citing IDC Predictions 2014 report, which expects significant growth of 40 percent in the big data sector and will exceed 60 percent by 2020 driven in large part by mobile devices.