- Big data and business analysis revenues expected to reach $166 billion this year, $260 billion by 2022
- Consorteum Holdings’ lead product, the Universal Mobile Interface™, provides adaptable Big Data capabilities to variety of industries
- Company’s first app targets sports betting interests of world’s cricket fans
The surging interest in data analytics tools bodes well for analytical software development company Consorteum Holdings, Inc. (OTC: CSRH), which aims to distribute its central product, the Universal Mobile Interface (UMI), to businesses intent on integrating data streams to generate revenue via mobile platforms.
Consorteum Holdings is focused on the delivery of digital content to mobile devices. Its suite of mobile applications, developed through a combination of strategic partnerships, license agreements and joint venture arrangements, delivers mobile content and mobile payments solutions. The company has been building relationships and licensing agreements that will allow it to participate in the growing fintech marketplace, and, earlier this year, it announced the development of a sports betting app that will enable cricket fans to analyze various team and player statistics to make more informed wagering decisions.
Global market intelligence firm International Data Corporation (IDC) forecasts a world in which revenues from big data and business analysis (BDA) will reach $166 billion this year, marking an increase of 11.7 percent over last year (http://nnw.fm/M88Kw). BDA solutions are expected to bring in revenues of $260 billion worldwide by 2022, with a compound annual growth rate (CAGR) of 11.9 percent during that time.
“At a high level, organizations are turning to big data and analytics solutions to navigate the convergence of their physical and digital worlds,” IDC Customer Insights and Analysis Program Vice President Jessica Goepfert told New Zealand’s Channel Life publication (http://nnw.fm/rj6MJ). “This transformation takes a different shape depending on the industry. For instance, within banking and retail — two of the fastest growth areas for big data and analytics — investments are all about managing and reinvigorating the customer experience. Whereas in manufacturing, firms are reinventing themselves to essentially be high tech companies, using their products as a platform to enable and deliver digital services.”
Consorteum Holdings’ wholly owned subsidiary, 359 Mobile, Inc., is responsible for building the company’s UMI platform to blend any stream of data on a mobile platform, flexibly adapting to the diverse needs of a broad range of vertical markets, including e-commerce, mobile gaming, banking, data analytics, social media, entertainment and digital marketing.
Earlier this year, the company announced that its first app to market is a tool to help sports betting fans study athlete statistics and predict outcomes for their favorite teams and players as new matchups take place (http://nnw.fm/yUO91), potentially establishing Consorteum Holdings as a frontrunner in a market with explosive opportunities. According to the Chicago Tribune, nearly 60 million people in the United States and Canada alone find entertainment in fantasy sports league competitions, many of which involve cash wagers (http://nnw.fm/Tn2aU).
Consorteum Holdings’ initial app targets competitive cricket, a sport without a significant following in the United States but with an enormous following worldwide. It is regarded as second only to soccer in fan-base popularity, and the app’s initial rollout will take place this year in the United Kingdom, with additional geographical markets considered as time passes.
“Additionally, the Company will evaluate opportunities to market its current technologies in other industries,” the company’s most recent quarterly filing with the U.S. Securities and Exchange Commission states. “Going forward, we expect our revenues to be derived from transactions processed using our UMI software platform technology in various countries outside the U.S. starting with the United Kingdom as we explore other international distribution opportunities. We will also explore any U.S. opportunities that are feasible.”
For more information, visit the company’s website at www.Consorteum.com
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