ASX listed company Skyfii (ASX: SKF) has scored a three-year contract from the National Museum of Australia in Canberra that will see it deploy its IO Connect data collection and IO Insight analytics services.
Skyfii has developed a cloud-based platform that uses existing Wi-Fi infrastructure, BLE beacon networks, door-to-people counters, video sources, web and social platforms to allow venues to analyse the behaviour of anonymous visitors and to capture data from those who opt-in to free internet connectivity.
Skyfii says its IO platform will assist the museum to better understand and engage with visitors. “Insights will be gained on visitor return rates to the museum, the frequency and recency of visits, visitor flow and dwell times in different areas of the museum. These insights will enable the museum to plan its exhibits and flow to suit the preferences of its visitors.”
The museum has 6,600 square metres of exhibition space on an 11-hectare site on the shores of Lake Burley Griffin in Canberra and last financial year had 1.2 million visitors.
Skyfii says the deal marks its entry into a new ‘cultural centre’ vertical with a pool of over 2000 museums and galleries in Australia and follows its announcement on 24 January that its platform was being deployed in the university vertical.
In May it announced a contract with Wellington Airport in New Zealand saying that deal marked its successful entry into the airport vertical.
Analyst’s bullish view of Skyfii
TMT Analytics initiated coverage of Skyfii on 4 May when its share prices was $0.07, giving it a price target of $0.14. It said the company had successfully built up a strong blue chip customer base over the course of FY15/16 through the sales of its IO SaaS platform services.
“During FY17, its newly launched additional services, including Data Consulting Services (DCS) and soon to come Marketing Services (MS), will provide significant upsell opportunities to its existing customer base and a basis for attracting a broader customer set into the future,” TMT Analytics said.
“With bespoke Data Consulting Services (DCS) and Marketing Services (MS) ramping up in CY17, we expect SKF will be able to accelerate revenue growth beyond the already attractive revenue growth (20 percent +) it achieves from the IO Platform to over 50 percent CAGR through to 2020.” Its shares closed at $0.078 on 6 June.