cygron.com - News Article: Cygron offers a solution for data overload

The Business Times, BizIT Page 3
and The Business Times Online (http://business-times.asia1.com.sg)
February 5, 2001

Cygron offers a solution for data overload"

Global market for business intelligence solutions set to quadruple to US$12.8b

By Raju Chellam

HOMEGROWN Cygron Pte Ltd - at www.cygron.com - which provides business intelligence (BI) solutions, said it will aggressively push DataScope 4.0, a BI solution targeted at large and medium enterprises.

The product was showcased at Comdex Fall in November last year and won one of the three finalist awards in the “enterprise product” category.

Given that data is growing at an alarming rate, most companies are overwhelmed by the surge of data overload.

‘Most of the time, what companies have is disparate and unstructured data which is spread out over different departments.’ - Roger Wolf

“DataScope 4.0 organises data into meaningful clusters for more effective understanding and interpretation,” said Cygron’s chief executive Roger Wolf. “Information can then be acted upon, impacting business goals and results. Most of the time, what companies have is disparate and unstructured data which is spread out over different departments.”

The solution is distributed in four modules - for visualisation and data mining; for automated data mining; and to import data from relational databases.

It retails at US$2,900 (S$5,035) for the startup module; a fully-configured package - called DataScope Power - costs US$5,400. It is targeted at users in the banking, finance, insurance and CRM sectors.

“The global BI markets is estimated to quadruple in size from US$3.9 billion last year to US$12.78 billion by year 2004, growing at 34 per cent between now and then, according to International Data Corp.,” Mr Wolf said. “We’re competing in a market with international BI players such as Cognos Inc, IBM Corp, Silicon Graphics Inc, and Business Objects SA.”

According to Forbes, Ottawa-based Cognos is the market leader in BI software with 33 per cent market shared, followed by France-based Business Objects with 30 per cent. California-based Brio Technology has 18 per cent market share in a competitive market that includes Hyperion and MicroStrategy Inc. Cygron was set up in Singapore in May last year with US$2.2 million in seed funding. It has set up an R&D centre in Hungary and its product design centre and headquarters are in Singapore.

The company has 38 employees - 29 in Hungary and nine here. “We plan to grow to 53 employees by end-2001,” Mr Wolf said.