In May TMC (News - Alert) had the news that 1010data hired Afshin Goodarzi as the managing director of predictive analytics, for the development and support of new analytical capabilities for 1010data's cloud-based big data analytical platform.
1010data's cloud-based big data platform allows companies to get quicker answers to questions so that predictive analytics and modeling are within reach of senior management and business analysts. Historically, to use predictive analytics, companies were forced to reduce the size and complexity of their data sets, by creating smaller subsets or cubes. The underlying technology that enables lightning-fast analysis in 1010data's cloud eliminates the need for pre-processing of this sort.
“We’re not well-known, flying under radar,” Negris said, “quietly growing by word of mouth.” He explained how it works with “extremely large amounts of data” in retail and banking, for instance, loading huge amounts of data, “billions of transactions,” and using 1010data’s tools to analyze the data.
“It’s all in the cloud,” he said. “1010data was cloud before cloud was cloud.”
He explained that it’s particularly well-suited for market basket-style analytics for retail, preventing churn for phone companies, looking at values in a bunch of data and what they mean to each other. What are certain customers doing in the store, what products sell with other products, the kind of thing retailers love to know.
The company also provides tools for less experienced users, so they can get basic reports without having to know a tremendous amount about analytics themselves.
And security, of course, is a top priority. “We act as a data fiduciary,” Negris said, noting that they have every single transaction conducted on the New York Stock Exchange uploaded for analysis. “We don’t know what companies do with the data they have.”