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|September 22, 1997||
Citicorp subsidiary sets up data warehousing centreCiticorp Information Technology Industries Limited, a subsidiary of Citicorp, has launched its Data Warehousing Centre of Excellence in Bangalore.
The centre will function initially with 25 professionals. Terming data warehousing as an emerging technology in India CITIL Chief Executive R Ravishankar said that the data warehousing techniques can increase sales if applied effectively.
In fact, around 15 per cent of the revenue of CITIL itself in the current fiscal is expected to come from this route. The "Next calendar year we are expecting revenue of $6 million from this technology," he said.
Data warehousing system basically involves turning information into competitive advantage, said Ravisankar. Citing an instance, he said the system was deployed at a supermarket in the US wherein it was discovered that men having new-born kids mostly do the shopping while returning from office.
"In the haste, the men would pick up diapers and beer. The supermarket, by placing both the commodities adjacent to each other increased the sales of beer," he said. CITIL has received a number of inquiries from both domestic and foreign companies for data warehousing systems.
"The banks, financial firms and insurance companies have shown a keen interest in deploying the system," claimed CITIL's N R K Raman.
The company is expected to enter into agreements with a few firms for the system in the near future. Stating the advantages of the data warehousing, Raman said that it can provide competitive edge through use of online analytical processing tools for querying historical trends in a multidimensional database.
CITIL is currently deploying the system at Citibank in Singapore. The project involves delivery of sophisticated data management and analysis capability to provide the workers with information and analytical tools.
The launch of the data warehousing centre is part of the $3 million expansion plan of the company. CITIL is also slated to recruit about 300 professionals within a year. The company expects a revenue of Rs 750 million in the current year, up from last year's Rs 540 million.
Of the revenue, around 70 per cent comes from products while the rest is earned from services. It has a customer base of 143 spread over more than 40 countries.
- Compiled from the Indian media
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