"Companies need to be data-driven to compete effectively," Jimmy Ting, General Manager of DataMicron, told Vulcan Post.
However, he saw that companies were faced with a problem here: they had large amounts of data and lacked solutions to help them with the analysis. This was particularly true for Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), HR and financial systems.
DataMicron is therefore committed to solving these problems in both the private and public sectors. Jimmy gave some examples of her work: In the private sector, her solutions revolve around efficiency, productivity sales and marketing, using predictive models and machine learning.
On the other hand, issues that are being resolved in the public sector are related to, for example, data integrations, data cleansing, and the implementation of executive dashboards and predictive analytics.
To simplify the goals of DataMicron, the company acts as both a primary software company and a consultant and implementer. "As a result, our products are typically designed to address the 'weaknesses' of implementation and usability for businesses and so on," said Jimmy.
He believes that these crucial points also mean that the internal solutions and technologies used differ from those of the competition. "
A range of new tech products for big data solutions
Recently, the team launched the new SPOTLIGHT platform, which includes the following products for the market, which are briefly explained:
- Eagle eye: An AI engine with natural language processing that can “read” documents and content on social media and extract entities (names, locations, organizations) and determine the relationship between these entities.
- Foresight: It's like a data science studio or workbench for data scientists that can simplify the work of weeks into days.
- Insta BI: A self-service business intelligence product that allows users to integrate multiple data sources and design their own business intelligence systems.
- Neura Chat: A private corporate messenger app (think WhatsApp, but with better security) that can be used in command centers.
- Mini apps: This product enables users to build small applications for data collection, workflow, and reporting. It is integrated into Neura Chat.
They are clearly more focused on corporate customers and government departments right now, but Jimmy added, "We intend to provide a scaled-down version of our software to cater to the SMB market as well."
An example of the dashboard for DataMicron retail users
While they have so far reached their desired target market, he said it was the biggest struggle in their early years.
"It has not been easy to convince large companies to use local products because some do not believe that we will be able to develop high-end technologies like the in-memory database for rapid aggregation."
“We have mostly overcome this with Proof of Concepts (POC). The results of our POC show that we are on par with or even better than foreign giants in our area of big data analysis, ”explained Jimmy.
Global expansion in self-financing
Despite all of these struggles, Jimmy is very proud that they have been self-funded so far and that they could expand to 8 countries.
For him, MaGIC was instrumental in moving companies like her to go global, and the two programs that DataMicron benefited from were the e @ Standford and HIPP2 programs.
There they learned how successful entrepreneurs in Silicon Valley wanted to realize their dreams. At the same time, Jimmy came to a realization.
“Silicon Valley entrepreneurs are fortunate enough to have VC ecosystems that they can fund to grow very big. In Asia, however, tech companies other than ecommerce don't have the luxury of VCs who believe in their technologies. "
“So far the paradigm for VCs is that western technologies are superior to eastern technologies. Perhaps that perception will change one day when China begins to make technological advances, ”he added hopefully.
Now is the time to scale aggressively
DataMicron has obtained patents in both China and the United States. This is another pride for the team as it is not easy to do, especially for the US patent.
"We believe there are only a handful of software companies in Malaysia that have received US patents for their innovations," he added.
“Now that we have our new and solid SPOTLIGHT platform, we want to scale aggressively. We believe that we have a pretty wide range of products in the big data analytics and AI market. "
To get there, he admits that external funding could accelerate their growth in the near future.
If they don't get outside funding, it's an IPO that he wants to plan in the next 2 years so they can be listed within 5 years.
- Further information on DataMicron can be found here.
- You can read about other Malaysian startups here.
Selected image source: Jimmy Ting, Managing Director of DataMicron by Pointwest