Data Analytics and Machine Learning Services refer to the provision of services that leverage advanced techniques and algorithms to extract valuable insights from large datasets. It involves analysing data, identifying patterns, and deriving actionable insights to improve operations and decision-making.
This includes developing predictive models, implementing machine learning algorithms, creating data visualisations, and assisting with data-driven decision-making. These services help businesses optimise processes, automate tasks, and make informed decisions based on data-driven insights.
The business activities that fall under Data Analytics And Machine Learning Services are:
Data Classification & Analysis Services (6311.92): This activity involves the organisation and categorization of large volumes of data based on specific criteria or attributes. It includes the process of labelling or tagging data with relevant categories or classes, enabling easier retrieval and analysis. This business activity falls under Data Analytics and Machine Learning Services because it contributes to the overall data analysis process. By accurately classifying and organising data, businesses can gain a deeper understanding of their information assets, identify trends and patterns, and perform more efficient and effective analysis. Data classification often relies on machine learning algorithms to automate the process and improve accuracy. Additionally, once data is classified, it becomes a crucial input for various analytics tasks, such as predictive modelling, anomaly detection, and decision-making processes.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 6311.92 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6311.92 is exempt from this requirement.
Electronic Chips Programming (6201.95): This involves configuring and programming microchips using software code. It falls under Data Analytics and Machine Learning Services because it leverages data analytics and machine learning techniques. Data analytics is used to analyse sensor data and make data-driven decisions, while machine learning enables optimization and self-learning capabilities. Electronic chips can benefit from these techniques to enhance their functionality and adapt to changing conditions.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 6201.95 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6201.95 is exempt from this requirement.
Cloud Service & Datacenters Providers (6311.97): This refers to businesses that offer infrastructure and services for hosting, managing, and delivering applications, data, and resources through the cloud. They provide storage, processing power, networking capabilities, and other resources required to run applications and store data in a secure and scalable manner. This business activity falls under Data Analytics and Machine Learning Services because cloud service and datacenter providers often integrate data analytics and machine learning technologies into their offerings. They enable customers to perform data analysis, predictive modelling, and machine learning tasks using the resources and tools provided by the cloud service provider.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 6311.97 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6311.97 is exempt from this requirement.
Datacenter Colocation Services (6311.98): This refers to the practice of renting physical space, power, and cooling within a datacenter facility to house and operate servers, networking equipment, and other computing infrastructure owned by businesses or individuals. Instead of maintaining their own datacenter, organisations can colocate their equipment in a shared facility. This business activity falls under Data Analytics and Machine Learning Services because datacenter colocation services provide the necessary infrastructure and environment for businesses to store and process large amounts of data required for data analytics and machine learning tasks. By leveraging the reliable and secure infrastructure of a datacenter, organisations can deploy and manage their data analytics and machine learning workloads more efficiently, allowing them to extract valuable insights and develop intelligent applications based on the data they store and process within the datacenter.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 6311.98 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6311.98 is exempt from this requirement.
Innovation and artificial intelligence research and consultancies (6209.15): This involves conducting research, providing expert advice, and offering consultancy services in the field of artificial intelligence (AI) and innovation. It falls under Data Analytics and Machine Learning Services because AI and innovation often rely on data analytics and machine learning techniques to derive insights, make predictions, and develop advanced algorithms. These research and consultancies help organisations explore and harness the potential of AI, develop AI-driven solutions, and integrate data analytics and machine learning into their operations. They provide expertise in AI strategy, algorithm development, data modelling, and other areas essential for leveraging data-driven technologies effectively.
- Third-party Approval: No third-party approvals are required for this business activity.
- Filing of Economic Substance Return: Business activity 6209.15 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 6209.15 is exempt from this requirement.
