The partnership between the SMART Infrastructure Facility (SMART) and one of Australia’s leading providers of digital analytics services will continue for another six months.
SMART Senior Research Fellow, Dr Rohan Wickramasuriya through SMART’s Data Analytics Lab, is working in partnership with Internetrix to develop a data analytics product that will actively monitor and gain intelligent insights into any unexpected movements in conversion rates.
The Wollongong-based company services key industry leaders including Domino’s Pizza, carsales.com and Webjet.
Internetrix identified that current analytics products are limited to undertaking historical analysis with simple alerting systems.
This means that organisations would have to commit copious amounts of time and money digging into data to find both possible problems and solutions.
The Data Analytics Lab at SMART focuses on solving practical problems involving data.
“We carefully evaluate project proposals to see if we can contribute to the advancement of science while solving a real problem using data analytics methods and tools. This particular project presented the right opportunity that eventually helped meet the expectations of both parties.” Dr Wickramasuriya said.
Recognising the opportunity for collaboration and in an effort to gain access to more resources for research and development, Internetrix formed a partnership with SMART through a Government Innovation Connections grant.
Internetrix data science lead, Dean Marchiori, is working closely with SMART to develop and test an algorithm that sits at the heart of the anomaly detection function of the product.
“Our research partnership has been beneficial for both parties,” he said.
“It has allowed Internetrix to benefit from the technological resources available in the SMART Infrastructure Facility.
“But it has also allowed SMART to benefit from the substantial research value presented to them by ‘Internetrix Analytics’.”
The research partnership has already resulted in a product that provides accurate real-time conversion rate monitoring, alerts and insights.
It also offers predictive capabilities, allowing users to forecast future conversions for further identification of cost-saving opportunities.
For the next six months, the researchers will refine and develop the idea with the first paying customers expected to start using the product in April.