PERTH: Family Insights Group Limited (FAM) has signed a non-binding Memorandum of Understanding with leading data intelligence company Invigor Group to explore co-developed analytics and data solutions for B2B customers.

Invigor is a leading data intelligence, insights and analytics business with customers in multiple industries including liquor, white goods and electronics. Increasingly it’s client base requires diversified product analytics including grocery products and categories.

Under the terms of the Memorandum of Understanding, FAM and Invigor have agreed to explore opportunities to create mutual data and analytics solutions of each party. They will also explore revenue sharing opportunities for both shared data and analytics opportunities co-developed by each party.

The scope of the Memorandum of Understanding will extend to exploring mutual data licensing agreements to meet Invigor’s existing customer requirements as well as agreeing to develop new customer proposals utilising the combined expertise across both parties.

Family Insights Group MD and CEO Sean Smith said: “Invigor is known within the retail industry as a top of class data intelligence provider. We are very excited to be exploring ways to leverage our growing data asset and in-house analytics expertise to add value to their existing business, as well as working with them to accelerate new business growth within retail.”

Invigor Group Executive Chairman Gary Cohen said; “We look forward to working with Family Insights Group. Our skills and expertise are very much complementary and we believe we can create value for our clients to use data to manage and grow their business.”