IT cluster resident SDI Research has had a 21.8 million ruble grant approved from the Skolkovo Foundation to develop a semantic master data management system that aims to significantly streamline information handling at large industrial holding companies.
The project’s budget is 43.6 million rubles; the other half is covered by private investors.
SDI Research’s parent company, SDI Solutions, estimates the potential market of semantic MDM at $1.4 billion. The product, slated for completion by 2016, is aimed at geographically dispersed industrial holdings and large enterprises with a large fleet of information systems serving production.
SDI Research names IBM, SAP, Oracle as competitors but notes they are more focused on the financial and retail sectors and are not industry oriented.
“SDI Research’s product helps optimize operating processes at engineering holdings, and helps cut spending on collating and storing reference data,” said Igor Bogachev, a Skolkovo Foundation vice president and director of the IT cluster.
“It also lowers costs associated with accountancy and cuts the time needed to take a product to market. In short, it makes engineering holdings more competitive,” he added.
The company already has three big orders on its books, said Andrei Andrichenko, the general director fo SDI Research.
Using semantic technologies in MDM systems make the them efficient when working with engineering data, the company claims, leading to more effective automated decision-making.
“Implementing systems of this class will ensure the unification of reference data and will give industries the potential to freely participate in the global information exchange,” SDI Research says on its website.