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Thinksmart to boost profits

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									Brendan O'Brien: 'We have had enormous traction in the US market'




Thinksmart to boost profits
                                                                      reach deep into the university      he hoped to recruit up to 15
By Siobhan Brett                                                      and research arena and take         more staff in the next year and
                                                                      out nuggets that we can apply       also planned to open a US of-
                                                                      -   the clever technology that
                                                                      can make business easier," said
                                                                                                          fice.
                                                                                                              "We have had enormous
Brendan O'Brien, chief execu-
tive and co-founder of Cork's                                         O'Brien.                            traction in the US market. I
                                      Company:
Think Smart Technologies, be-                                             Think Smart's Intellify pro-    spend a lot of time in the US in
lieves his company's analytical       Thinksmart                      duct combines 12 technologies,      Silicon Valley building business
software could boost profits for      Technologies                    including data mining and lin-      relationships. It's beginning to
large corporations.                   Position: chief                 ear programming, to analyse         pay off," he said.
    Think Smart has invented a                                        patterns in business functions.         O'Brien and Little have just
                                      executive and                                                       begun their first funding
system that uses maths and ar-                                            O'Brien said it could be used
tificial intelligence to speed up     co-founder                       for a range of forward-plan-       round. "It's early days, but our
decision-making for compa-            Location: Cork                                   -
                                                                      ning activities for example,
                                                                       to optimise inventory. "Com-
                                                                                                          target is to raise $3 million,
                                                                                                          which would put us on a sound
nies. It identifies patterns in
                                                                       panies can have the right pro-     footing and allow us to operate




                                                                  -
business, which can be used to
plan ahead.                                                            ducts in the right place and for   comfortably in the US," said
    As an example, O'Brien          by increasing efficiency or re-    the right customer demand,"        O'Brien, who worked with Ac-
pointed to the retail sector        ducing expense based on new        he said. "In financial services,   centure and IBM before setting
where, he said, companies           knowledge," he said.               we can solve complex pro-          up Think Smart.
could use it to find out which        O'Brien established Think        blems by bringing together in-         "I met with James Little, co-
promotional offerings gave the      mart in July 2010 with business    formation about people,            founder and chief technology
best customer return.               partner James Little as a spin-    priorities, skills, challenges     officer, and there was a sy-
    "This is a complex problem.     out of University College          and financial constraints."        nergy between us and our
We take what people might           Cork, leveraging a decade of          Think Smart employs ten         ideas. It evolved from there;
have had a sense of before and      university research to launch      people at its headquarters in      there wasn't a magic spark or
we make it scientific. We allow     the venture.                       University College Cork's In-      anything. It has been a slow
business to make more money            "Our business strategy is to    novation Centre. O'Brien said      burn, all the time evolving."

								
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