Sumitomo Mitsui Banking Corporation (President & CEO: Akihiro Fukutome, hereinafter ”SMBC”) and Fujitsu Limited (President: Takahito Tokita, hereinafter ”Fujitsu”) announced a partnership to explore the creation of a data analytics business, designed to empower customers with enhanced decision-making and operational efficiency.
The partnership comes after a joint project team formed by the two companies in 2024 conducted a survey of customer needs and discovered that various industries, including manufacturing, wholesale, and retail, want to move away from decision-making based on individual experience and promote data-driven operations to improve efficiency, and enhance management decision-making.
To meet these needs, the two companies will combine their expertise and technologies to create a data analytics business focused on solving customer challenges.
These efforts come against the backdrop of Japan’s aging population and declining birthrate which is leading to labor shortages and increased personnel costs, as well continuing corporate awareness of the importance of sustainability efforts, including efforts to reduce CO2 emissions by optimizing inventory management and minimizing waste in manufacturing.
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SMBC’s industry knowledge and data science analysis expertise will be combined with Fujitsu’s AI demand forecasting to enhance management decision-making, and support the optimization of customers’ product ordering volumes, personnel allocation, and logistics planning.
Fujitsu’s AI demand forecasting incorporates the Fujitsu patented Dynamic Ensemble Model technology which automatically tunes and optimally combines multiple demand forecasting models.
Compared to selecting a single forecasting model, this approach enables more accurate learning that captures the characteristics of each forecasting target, which changes due to various factors such as demand cycles, external influences, and trends. This results in stable and highly accurate demand forecasting, enabling rapid response to market needs and supporting corporate management decisions.
About Fujitsu
Fujitsu’s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, their 124,000 employees work to resolve some of the greatest challenges facing humanity.
About SMBC
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance.
