- Alliance with DevLex Ltd. to bring real-time analytic solutions, support to 359’s Universal Mobile Interface platform and its use in vertical markets including sporting options
- Global predictive analytics market expected to reach nearly $11 billion by 2022
- NCAA March Madness tournament players leverage predictive analytics in forming competition brackets
- Social media gaming rising in popularity with an estimated $50 billion in revenue generated in 2017
It’s that time of the year when swagger and noise from fans of the NCAA men’s basketball tournament – better known as ‘March Madness’ – take over mobile devices, office chatter, living room TVs and the minds of sports enthusiasts around the globe (http://ibn.fm/NrvLx). What binds each of these fans together is pure optimism that their teams have a chance to make it all the way to the tournament championship game, scheduled this year on April 2. According to several news reports, at least 24 million people participated in NCAA college basketball bracket pools in 2016, legally wagering about $3 billion out of a total of $10 billion placed on the tournament outcome (http://ibn.fm/LFxOp).
Consorteum Holdings Inc. (OTC: CSRH), a software development company and mobile solutions provider, recently announced that its wholly owned subsidiary, 359 Mobile Inc., has inked an exclusive joint business agreement with DevLex Ltd. that will open new avenues of revenue for both companies (http://ibn.fm/fCYdf). The new deal seeks to augment DevLex’s predictive analytics platform (“DV-PA”) with 359’s Universal Mobile Interface™ (“UMI”), which was recently integrated to facilitate a wide variety of fintech-based services, including vertical applications like sports wagering, commodities management and other record-based data management sectors.
“DevLex’s expertise in complex localized large scale predictive analytics is a critical addition to our UMI framework,” Consorteum CEO Craig Fielding said in the news release announcing the deal. “Our joint collaboration will allow our applications running in concert with 3rd party programs to achieve clear solutions to access and utilize big data. We have already begun the development and planned release of our first applications which will be targeted at providing the sports enthusiast with real time odds analytics of their favorite sports.”
While the odds of picking the perfect bracket in the March Madness tournament remain statistically astronomical (http://ibn.fm/fvSPB), that doesn’t stop sports fans from seeking a competitive advantage. Consorteum Holdings is poised to deliver its unique platform technology solutions across multiple growing industries, including the global online gaming market, which closed out 2017 with an estimated $50 billion in revenue (http://ibn.fm/FTE30), and the worldwide gambling sector, which is projected to reach $1 trillion by 2021 (http://ibn.fm/aYJeZ).
Applying predictive analytic data to gain a foothold over the competition applies not just to the sports arena, but to nearly every other industry as companies seek an advantage in their specific sectors. A new report by Zion Market Research forecasts the global predictive analytics market at nearly $11 billion by 2022, growing at a CAGR of 21 percent between 2016 and 2022 (http://ibn.fm/BmKP8). Big data analytics are being adopted for use by at least 53 percent of all large corporations. Telecom and financial services companies are leading the pack with 87 percent and 76 percent currently reporting usage, respectively, according to an article in Forbes (http://ibn.fm/TLSfX).
From the boardroom to the locker room and beyond, Consorteum Holdings and 359 Mobile Inc. apply cutting edge solutions across multiple business verticals. 359’s “clear pedigree in complex mobile business solutions and the integration into the UMI framework is an exciting collaboration not only to see analytics-based mobile solutions being released but the obvious monetization routes that the alliance will offer both companies,” DevLex founder Ian Copeland said in praising the new joint business agreement.
For more information, visit the company’s website at www.Consorteum.com
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