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Veloxiti Executes Joint Venture Agreement With Thoughtronix to Meet Growing Demand for Market Intelligence

Awardee Story Veloxiti Executes Joint Venture Agreement With Thoughtronix to Meet Growing Demand for Market Intelligence
Date: Jan 15, 2013
Author: press release
Source: Yahoo Finance ( click here to go to the source)

Veloxiti, a provider of thinking software that helps businesses make better, faster and more comprehensive data-driven decisions, today announced a joint venture with Thoughtronix, a social sciences research and engagement firm, to create a revolutionary marketing intelligence ecosystem that provides unique behavior insights into marketing demographics.

According to the Institute for Scientific Interchange Foundation, every 1.2 years, more socioeconomic data is produced than during all preceding human history. Businesses are challenged with finding enough affordable, top performing talent to manage and interpret this data in a timely manner. As a result, businesses require solutions that address this knowledge gap, redistributing intelligence across the organization to better manage consumer engagement.

By harnessing the power of Veloxiti’s Intelligent Agent technology, Thoughtronix can emulate the marketing insight and thought processes of experts in brand marketing so that thousands if not millions of marketing decisions can be made in the time it would take for a human expert to make alone. This new joint venture combines Veloxiti’s deep expertise in analyzing complex data with Thoughtronix’ experience in consumer engagement, empowering organizations with the ability to effectively mine and manage greater market intelligence data.

“The combination of Veloxiti and Thoughtronix’ individual expertise will yield greater insights and efficiencies to further advance our shared vision of a comprehensive marketing intelligence ecosystem,” said Don Turner, president and chief executive officer of Veloxiti. “Our venture with Thoughtronix will demonstrate the benefits of an intelligent ecosystem that tracks consumer preferences across social platforms. This venture will enable businesses to quickly collect and analyze market intelligence, improving brand marketing decisions.”

As part of the joint venture, Veloxiti made an "investment in kind" with its Intelligent Agent software and in exchange received a minority interest in Thoughtronix, a seat on the company’s Board of Directors and ongoing royalties.

“Big data poses significant challenges for organizations today,” said Brad Edmonson, chief operating officer of Thoughtronix. “Combining Thoughtronix’ knowledge of consumer engagement with Veloxiti’s expertise in intelligent systems creates incredible advantages for businesses conducting brand marketing. Veloxiti’s technology furthers our ability to sort through the data and reach consumers across an array of market sectors.” Edmonson continued by saying, “Bottom line, this venture will allow marketing dollars to be spent more efficiently and effectively than ever before. Brands that don’t use this technology in the future will be seen as simply ‘throwing marketing dollars away’.”

In addition to market data, the venture has broad implications for other functional areas. For example, Veloxiti and Thoughtronix plan to expand the venture to include charter jet staffing and other verticals in the future.

About Thoughtronix

Headquartered in Nashville TN, Thoughtronix has a global reach and extensive leadership in the areas of social sciences, artificial intelligence, social media engagement, complex software engineering, entrepreneurship and corporate restructuring. With hundreds of years collective experience, the Thoughtronix team is focused on solving one of today's biggest challenges -- organizing and engaging big data in a way that unlocks its potential. For more information, please visit http://www.thoughtronix.com/.

About Veloxiti

Veloxiti creates and delivers solutions that help people make better, faster and more comprehensive decisions. Grounded in two decades of battle-tested development for the military, the company is the first to bring to the commercial market easy and intuitive intelligent solutions. Veloxiti’s development environment allows a broader cross-section of professionals to create and deliver the best data-driven results. For more information, please visit www.veloxiti.com.

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