sdecoret - stock.adobe.com
Graph database technology supplier Neo4j has teamed up with consulting firm Deloitte to offer a range of services to customers in Southeast Asia.
Neo4j will provide product and technical support to Deloitte, which will in turn offer advisory and implementation services for organisations, particularly those in logistics and transportation, telecommunications, financial services and government.
Graph databases are ideal for handling vast and complex troves of data, storing information as connected nodes and relationships. They excel in connecting and managing masses of data to answer complex queries in applications such as fraud detection and supply chain management.
Commenting on the partnership, the first of its kind for graph databases, Chris Lewin, artificial intelligence (AI) and data practice leader at Deloitte Consulting Southeast Asia, noted that Neo4j is the “ideal partner” for Deloitte to help organisations gain insights through knowledge graphs.
“Deloitte has developed knowledge graph accelerators to enable organisations to quickly adopt and leverage the power of knowledge graphs,” he said. “Neo4j’s world-leading platform combines user-friendly tools with a powerful library of production-ready graph algorithms that can help our customers generate insights to drive growth and give their businesses a competitive edge.”
According to Gartner, graph technology will underpin 80% of the innovations in data and analytics by 2025, up from just 10% last year.
In Asia-Pacific, Neo4j grew its business by 100% last year, spurred by demand from industries including financial services, travel, retail, public sector and healthcare.
Nik Vora, vice-president of Neo4j Asia-Pacific, said the partnership with Deloitte will enable organisations to counter the challenges of dealing with dynamic, complex relationships between data to achieve strategic business goals.
“We’re excited to collaborate with Deloitte, which has a trusted reputation across the Southeast Asian region and around the world. Deloitte has proven solution delivery capability, and together, we have a shared vision of helping customers derive deep insights from ever growing, highly interconnected datasets,” Vora said.
According to IDC, graph databases are moving from a handful of targeted use cases to wider application in the enterprise as operational performance issues that made earlier graph databases impractical have largely been solved.
In addition, the development of powerful analytics tools sitting on top of graph databases allows users to search and analyse graphs better than ever before.
“Graph databases have come of age”, said Chris Marshall, associate vice-president at IDC Asia-Pacific. “When enabled with robust analytics, they are showing strong value in use cases such as counter fraud, intelligent search and metadata management.”
Read more about database technology in APAC
- TigerGraph is approaching the Asia-Pacific region with a solution-based strategy and partnering with universities to grow local capabilities.
- Alibaba Cloud’s growing clout in cloud-based databases was validated recently when it reported that its database revenues grew by over 50% year over year.
- DataStax opens regional headquarters in Singapore to tap the growth opportunities in Asia-Pacific where more organisations are modernising legacy systems and building cloud-native apps.
- MongoDB teams up with Alibaba Cloud to expand its presence in Asia-Pacific as it prepares to release a serverless variant of the open source database.