SAS will invest $1 billion (€914 million) over the next three years in the development of advanced analytics. The resulting solutions should address the needs of sectors such as banking, government and healthcare.
The new investment follows the $1 billion from 2019, when SAS made the money available for AI, education and services. The current amount should build on SAS’ focus on providing customized solutions for industry-specific challenges.
“Businesses face many challenges, from the threat of economic recession and stressed supply chains to workforce shortages and regulatory changes. With insights from industry-focused analytics, resilient organizations can find opportunity in these challenges,” said CEO Jim Goodnight.
Innovation and expertise
The billion-dollar investment will go toward R&D (research and development), line-of-business teams for specific industries and marketing operations. It should support the work of SAS data scientists, statisticians and software developers working with consultants, system engineers and marketers.
In addition, SAS is also making a connection between the investment and the democratization of analytics. “By putting the power of advanced analytics in the hands of more people with varied experience and job roles, organizations and society will benefit. It’s what SAS calls analytics for everyone, everywhere,” the company explains.
The solutions for the specific industries will use the Viya platform, SAS’ cloud platform for analytics.
The $1 billion investment was announced during SAS Innovate. SAS also unveiled a partnership with Erasmus MC and TU Delft, as well as an update for Customer Intelligence 360 at the conference.