FSOFT makes its mark with the TADA initiative at the iKhiến Finals No. 6, Group A

The iKhiến 2024 competition has reached its 6th Final Round, with 4 initiatives from Group A – the group of commercialized products and services – competing. Among them, FSOFT is participating in this race with the TADA (Total Augmented Data Analytics Platform) product from the CEP unit.

In 2020, when the demand for a unified data management platform increased, the team leveraged its strengths in the energy and oil & gas industry to develop TADA – a comprehensive data management platform. TADA not only solves complex data problems but also provides accurate predictive solutions, applicable across multiple industries with competitive costs.

The initiative helps increase data processing speed by up to 100 times, saves 20% of the cost of developing data and AI platforms, improves work productivity by 50%, and expands data scale by 1,000 times. The initiative is expected to generate revenue of more than 3.3 billion VND in 2024, currently connecting with more than 20 customers, with potential revenue of up to 49 billion VND.

“The application combines GenAI to accelerate the construction of reports as quickly as possible, from 2 weeks down to 1 day. Currently, the team is building its chatbot to serve customers and, depending on their needs, will proceed to build and expand to many other features,” said Mr. Minh.

With this initiative, the jury gave a lot of feedback because they assessed that this is only an integration tool to manage data in the oil and gas field, not really a product, and does not have many special features. In addition, the judges also suggested: “The team can cooperate with Petrolimex or deploy it for the Top 10 oil and gas companies in the world because the revenue and benefits brought will be much better than just leaving the initiative as a tool.”