Sumitomo Mitsui Banking Corporation (SMBC) and Fujitsu Limited (Fujitsu) have announced a partnership to create a new business focused on data analytics.
The partnership comes after a joint project team formed by both companies in 2024. They conducted a survey to understand the market and what customers demand. They found that many businesses, such as those in manufacturing, wholesale, and retail, want to shift from relying on personal experience when making decisions. Instead, they want to use data to operate more effectively and improve their management strategies.
To meet these demands, SMBC and Fujitsu will combine their knowledge and technology to develop a data analytics business that addresses customer challenges.
Here are some of the key actions they plan to take together:
- Create data analysis solutions that help customers make better management decisions.
- Develop joint marketing strategies to reach customers.
- Conduct demonstration projects and provide services that combine the strengths of both companies.
SMBC will bring its knowledge of industries and expertise in data analysis, while Fujitsu will contribute its advanced AI technology for demand forecasting to enhance management decision-making. This will also support the optimization of customers’ product ordering volumes, personnel allocation, and logistics planning.
Fujitsu’s demand forecasting uses a patented Dynamic Ensemble Model. This technology automatically adapts and combines several forecasting models, leading to more accurate predictions. By using multiple models, the approach can better reflect the different factors that influence demand, such as changing trends and external events. This results in more reliable forecasts, enabling businesses to respond quickly to market changes and make informed management decisions.
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