InfoReady specialises in data management, business intelligence and marketing analytics. The takeover will see Adaptic become a new ‘data science and analytics practice’ for InfoReady, specialising in exploratory, predictive and prescriptive analytics.
InfoReady managing director Tristan Sternson said he estimates the new practice will generate $1 million revenue in its first year and create ten new positions. It will be headed by Adaptic Solutions’ cofounder of Maksud Ibrahimov and data and analytics veteran Alister Lee. All Adaptic Solutions founders and executives will join the practice.
Sternson said the acquisition was an important strategic decision in InfoReady’s growth and would leverage Adaptic Solution’s strengths to give the company a competitive edge. “People pay lip service to ‘analytics’, but to truly understand data you need data scientists who really know statistics,” he told iTWire. The need real expertise and they need to be super smart. That’s why we acquired Adaptic.
“The launch of InfoReady’s Data and Analytics practice will enable us to draw on Adaptic Solution’s deep expertise and data science capabilities in information and business intelligence, and become a genuine competitive force among the mid-market and enterprise.
“The market’s preference is to work with a single partner-provider that can meet all their data and analytics needs – a one-stop-shop,” he said. “Our business goal is to be the number one Australian consultancy in information management, data, and analytics, and we are reassessing our capabilities and business model in order to give the market what it wants.”
InfoReady was founded by Sternson in Melbourne in 2008, and already has 100 consultants. It specialises in data management, business intelligence and marketing analytics, using tools from major BI vendors, like IBM and SAS and specialist analytics tools like Burst and iKnow. Its consultants have experience working with a large range of clients across many different industries – “Mostly the bog end of town,” said Sternson.
Adaptic’s Alister Lee said the deal was mutually beneficial. “InfoReady widens the reach of our custom Analytics Pipeline outside of our previous mining and retail focus, while we bringing new expertise to the company/
“Many data and analytics consultancies claim to be experts but don’t come from a true science background to support their customers’ full data journey. The type of data science-led organisation that we are establishing at InfoReady will be the exception.
“InfoReady’s clients are already focusing on using data to increase performance and this is the ideal context to apply Adaptic’s machine learning, advanced decision support, and evidence-based decision-making into the mix.”