Strategic Collaborations to further build on Tech Data’s AI, predictive analytics
solutions portfolio and cloud-native offerings
Singapore, February 22, 2023: Tech Data, a TD SYNNEX company, today announced the expansion of its AI (artificial intelligence) and predictive analytics solutions portfolio with a strategic partnership with Tangent Works – a leading predictive modelling and advanced forecasting company. Tech Data will be offering cloud-native technologies of Tangent Works to further strengthen its AI and predictive analytics solutions portfolio, while accelerating AI project adoptions across the IT ecosystem.
At launch, Tangent Works’ Tangent Information Modeler (TIM), an automatic model-building engine for time-series forecasting and anomaly detection, will be available in Singapore, Malaysia and India. Tangent Works’ TIM is highly effective in leveraging AI technology to improve operational efficiency in industries like energy, utilities, manufacturing, healthcare and FSI sectors.
Commenting on the development, Bennett Wong, Vice President, Advanced Solutions – Modern Data Centre & Analytics, Tech Data Asia Pacific and Japan (APJ), said “The global AI market size was valued at USD 93.5 billion in 2021 and in Asia Pacific and Japan it is projected to expand at a compound annual growth rate (CAGR) of 45% from 2022 to 20301. The predictive analytics market in the region is expected to increase from USD 2.89 billion in 2022 to USD 9.59 billion by 2028 2. Given this setting, we are excited to add Tangent Works to our Asia Pacific and Japan portfolio, to empower ISVs, our partners, and their end-users with extended capabilities in addressing complex AI environment challenges via secure and simplified cloud-native technologies.”
Tangent Works’ TIM, a multi-award winner in the field of predictive models, engineers features and applies a highly efficient algorithm in a single step. As compared to expert intensive AutoML, where users need to do feature engineering, model selection and tuning, the TIM hyper-automated engine covers all these steps in one pass of the data, bringing increased speed, efficiency, productivity and scalability.
“Time series forecasting, and anomaly detection are hard problems to solve. TIM makes it quick and easy for business users to benefit from predictive analytics,” said Tangent Works co-founder & CEO Henk De Metsenaere. “Together with Tech Data, we are bringing end-to-end predictive analytics solutions and consultancy to the Asia Pacific and Japan region. We are confident that by partnering with Tech Data, we will benefit from their global ecosystem of technology providers and partners.”
2Research and Markets: Asia Pacific Predictive Analytics Market Forecast to 2028
About Tech Data
Tech Data, a TD SYNNEX (NYSE: SNX) company, is a leading global distributor and solutions aggregator for the IT ecosystem. We’re an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’s 23,500 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com or follow us on Twitter, LinkedIn, Facebook and Instagram.
About Tangent Works
Tangent Works was founded in 2014 by a team of data scientists and mathematicians who believed in the power of predictive modeling for optimizing operations and reducing costs but found that the existing methods were far too complex and slow for broad adoption.
The Tangent Works’ mission is to de-mystify predictive modeling for forecasting and anomaly detection using our revolutionary InstantML technology and flexible TIM solution and make them accessible and productive for a broad range of users and use cases.
For more information go to www.tangent.works or contact us at info@tangent.works
Safe Harbor Statement
Statements in this news release that are not historical facts may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terms such as believe, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements regarding our ESG strategies and goals, and involve known and unknown risks and uncertainties which may cause the Company’s actual results in future periods to be materially different from any future performance that may be suggested in this release. A description of risks and uncertainties relating to TD SYNNEX can be found in its most recent Annual Report on Form 10-K and subsequent filings with the SEC and available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements contained in this release.
