Leonovus Inc. (LTV:TSX.V) provided an update in a news release about Consolidata, its generic solution for unstructured and structured data.
Consolidata, which is technology agnostic and highly secure, copies data from various sources to a centralized repository and analytics platform. The collected data are continuously collated and categorized such that artificial intelligence and machine learning may be applied to them. These features make Consolidata ideal for amassing COVID-19 data, for instance.
Currently, the Department of Justice in Canada is evaluating Consolidata's two components, Smart Filer and Vault, which it is slated to complete in late Q3/20. "Preliminary discussions regarding a full product launch beginning in Q4 2020 have already started," the release noted.
Leonovus also is awaiting responses regarding Consolidata proposals that it submitted since April to federal, provincial and territorial governments.
Looking forward, Leonovus intends to expand its Consolidata platform into a complete big data analysis solution and to do so, needs to add advanced analytics, dashboards and artificial intelligence/machine learning to it. The company intends to pursue this in three ways: partnerships, internal development and acquisitions.
The global analytics market, which Leonovus is targeting with Consolidata, is estimated to grow to $33.8 billion by 2021 due to COVID-19, according to Reportlinker.
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