The partnership will bring together Veriluma’s prescriptive analytics software, which was originally developed for use by the Australian Department of Defence, with Potentiate’s customer experience technology.

Combining the two pieces of software will mean the joint venture can predict future purchase intention within specific categories using industry data. The move will expand the software beyong defence to the commercial sector.

Veriluma’s algorithms are based on subjective logic, used for analysing situations where there is uncertainty and incomplete information.

Henry Cheang, group chief executive at Potentiate, said: "The software can deal with what we know and can also consider what we don’t know. It can handle quantifiable data and combine it with qualitative, unreliable and uncertain information to arrive at an outcome of confidence and likelihood. The software extends the results of big data tools, descriptive and predictive analytics as well as business intelligence solutions to deliver assessments with actionable outcomes."

As part of the venture, Cheang has been appointed as a member of Veriluma’s new advisory board.