Big data refers to data sets that are so large or complex data that traditional data processing application software is inadequate to deal with them.
The agreement was signed by MIF Chairman Raja Mazhar Mohar Tun Raja Mohar, Executive Director, Saad Mohib and Xomnia Founding Partners William van Lith and Ollie Dapper.
It was witnessed by Infocomm Founder Datuk Mohd Radzi Abd Latif.
Raja Mazhar told Bernama that the JV company would be set up within a year to help realise the Malaysian government’s goal of producing 20,000 data analysts and 2,000 data scientists by 2020.
“We want to be in the forefront to support the government’s policy under the Big Data Framework and the digital economy,” he said.
Raja Mazhar said by partnering Xomnia, a pioneer in datathon in the Netherlands, the new company also aimed to make Malaysia an international hub for big data entrepreneurship.
It would also focus on developing young talent through competitive environment in datathon.
Xomnia Founder van Lith said his company was “very excited” with the partnership as it would provide a chance to achieve its big data and artificial solutions on a global scale.
“We are also very happy that we can now educate talent on a larger scale than ever before,” he said.
Citing examples of the big data business, he said Xomnia created and developed predictive models such as when a burglary would happen and predicting an energy crisis.
Another key business model is to predict how long an employee would work with a company.
Its major clients include the government, banking and insurance sectors, Dutch international airline, KLM, and the police.
Infocomm Founder Mohd Radzi said the venture aimed to expand its business to the Asian market.
MIF is focused on catalysing digital innovations, developing highly-skilled human capital for the digital industry and promoting digital area development strategies. – Bernama