Raymond James Utilizes Fuzzy Logix In-Database Analytics on IBM Netezza and SQL Server
Sep 17, 2013 (Close-Up Media via COMTEX) --
Fuzzy Logix, an analytics software and professional services company, announced that Raymond James is leveraging its in-database analytics solutions on IBM Netezza (PureData) and SQL Server for investor portfolio performance reporting.
According to a release, Raymond James is using DB Lytix, a library models used for simulation, predictive analytics and data mining and FIN Lytix, a library in analytics models used by financial services companies that includes fixed income, equity, and portfolio and risk analysis models.
According to Tim Garrod, senior manager of enterprise data at Raymond James, "With the complexity and quickly changing demands of compliance and performance reporting, we needed a solution that could process a large volume of data quickly that was also flexible and quick to implement. We installed the libraries in less than 30 minutes and, with help from Fuzzy Logix consulting services, re-platformed and replaced our existing solution in three months. We're very happy with the improvements to many of our processes."
The company reported that the performance and scalability of Fuzzy Logix's in-database analytics allows companies to quickly analyze big data. Since the libraries are available on almost all database platforms, including Netezza/Puredata systems, SQL Server, Teradata, ParAccel, MySQL, Sybase IQ and others, companies can standardize their analytics across their enterprise. The models are run using SQL, so companies also realize tremendous savings by reducing duplicate data storage and reliance on analytics systems that are separate from their databases. Because the models can be called from any reporting tool, business users can gain insight into multiple areas on demand.
"It's great to help Raymond James improve their processes. Because of improved efficiency, they can focus resources on additional analysis and since they have the same in-database libraries working on two platforms, they also have benefited from standardization and simplification," said Michael Upchurch, COO at Fuzzy Logix. "We work hard to ensure that our products and consulting services deliver solid business value. We are grateful to have the opportunity to work with Raymond James on solution development and delivery."
Raymond James Financial is a diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal broker/dealers are Raymond James & Associates, Raymond James Financial Services, and Raymond James.
((Comments on this story may be sent to firstname.lastname@example.org))
[ InfoTech Spotlight's Homepage ]