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LiveTiles (ASX:LVT) will be launching a new visual data search and analytics tool, further enhancing its intelligent workplace software solution for workplace collaboration and productivity.

The new tool will be launched in partnership with Zegami, a spin-out from the University of Oxford’s investment arm – Oxford Sciences Innovation (OSI).

Developed by Oxford University scientists, the tool will be integrated into LiveTiles’ existing workplace software and available for existing and new customers.

It solves the growing challenge enterprises face of how to analyse their large unstructured data sets – which can include images, videos and documents alongside all the usual operational data. Zegami unlocks new insights on their business so they can make smarter strategic decisions, faster.

LiveTiles expects the solution “to be met with strong interest and to drive strong subscription revenue growth.”

It also hopes the solution will lead to larger sales opportunities in big data analysis.

LiveTiles has already began the year with a positive start – recently announcing its annualised recurring revenue (ARR) was up more than three times over the past 12 months.

Read: LiveTiles recurring revenue triples

As an additional sweetener to the strategic partnership, LiveTiles have also signed up the University of Oxford as a new customer for its workplace platform.

“LiveTiles’ vision for the intelligent workplace and, indeed, intelligent places of learning, is a compelling one. The low to no code factor appealed to us for its simplicity, time-savings and ability to quickly scale,” said Tim Rose, Digital Learning Technologist, Saïd Business School, The University of Oxford.

This isn’t the company’s first customer in the education space. It is working with a number of higher education institutes including the University of Canberra who have signed up to deploy a number of new chatbots to better improve the experience for both the staff and the students.

Read: 70 percent of businesses to use AI for employee productivity

But what does the tech do?

The technology provides a simple method for businesses to organise and see large data sets in a visual manner to help better interpret and analyse the data and make informed conclusions and decisions.

Key features of the tool include the ability to: search large data sets on any device; augment and explore the data and documents including images, audio, maps and video; display results on a single screen – making it easier to identify patterns, outliers and biases.

“The amount of data organisations have at their disposal today is mind boggling,” said Karl Redenbach, Chief Executive Officer and Co-founder, LiveTiles.

“The opportunity lies in finding ways to unlock the trends, the anomalies – essentially, the stories hidden in all that information.”

“We are continually focused on extending our capabilities to ensure our customers are getting the most out of their technology and data; and our alliance with Zegami is an extremely positive move in that direction.”

A very compelling offering

Importantly for LiveTiles, Zegami will jointly market the product to enterprise customers and Zegami says it will be a very compelling offering.

“Not only will the C-suite, HR, Marketing and Operations be able to unlock new ways of working with LiveTiles, but the visual insights from Zegami will highlight opportunities to improve and optimise the approach,” said Samuel Conway, Co-founder and CEO, Zegami.

“It will give our clients advantages invisible to their competitors. Our whole team are very excited about this alliance and look forward to exploring these opportunities across the world.”

AI is increasingly playing a key role in the search and analysis of visual data. The likes of Google have been working on its reverse image search – enabling users to upload an image and search the web for similar or matching results.

It is also becoming increasingly prevalent in retail. According to Grand View Research the global image recognition market is expected to reach US$77.69 billion by 2025.

 

This content is produced by Star Investing in commercial partnership with LiveTiles. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.