Chennai, July 27 (IANS): Consulting and enterprise solutions company TAKE Solutions Ltd on Monday said it is foraying into the US big data market for life sciences with a wholly-owned subsidiary, Intelent.

In a statement the company said it has floated the subsidiary with an outlay of $3 million.

Intelent aims to address the S300 billion healthcare and life sciences market by providing clients offerings in the areas of data integration and advanced analytics.

Noting the exponential growth in data volume and variety, and shortening of technology lifecycles, TAKE Solutions has set up Intelent to address the challenge of harnessing data from multiple streams to create a competitive advantage for its clients.

"There has been a growing importance of mining actionable insights from big data for strategic decision making in the life sciences space. This investment goes into areas of analytical data aggregation, mining and visualisation," Srinivasan H.R., vice chairman and managing director said in the statement.

"Insights and intelligence derived from fast-moving data sets can help inform strategy decisions, spur innovation, inspire new products, enhance customer relationships and bolster operations."