Integrating Hadoop® functionality into ‘Designer’ enables Volante clients to set up analytic conditions and feed data sets directly into a high-end analytical Hadoop® environment of their choice. Users can start the design, development and testing of a 'Big Data' analytical solution without having to pre-install a Hadoop® engine or hire technical experts. This makes it easier to set up and analyze previously inaccessible large hybrid data sets stored in data warehouses, in a short timeframe with little upfront investment.
Using Volante and Hadoop®, complex financial transaction data can now be blended with unstructured data sets (e.g., from website browsing, shopping carts, social media sites, images, etc.) to uncover new business intelligence. This can lead to greater understanding of customer behavior, underpinning the development process for new product and service offerings.
Kevin McPartland, Greenwich Associates, said, ”The last few years has brought with them a data explosion for financial services firms. While this new data can provide much needed transparency for an industry focused on risk management and finding the best price, consuming and processing this information from dozens of disparate sources is easier said then done. As regulatory reporting burdens have grown and required data sets become larger, tools to normalize and make sense of this ever increasing flood of data will only become more important."
Using Volante and Hadoop®, complex financial transaction data can now be blended with unstructured data sets (e.g., from website browsing, shopping carts, social media sites, images, etc.) to uncover new business intelligence. This can lead to greater understanding of customer behavior, underpinning the development process for new product and service offerings.
Kevin McPartland, Greenwich Associates, said, ”The last few years has brought with them a data explosion for financial services firms. While this new data can provide much needed transparency for an industry focused on risk management and finding the best price, consuming and processing this information from dozens of disparate sources is easier said then done. As regulatory reporting burdens have grown and required data sets become larger, tools to normalize and make sense of this ever increasing flood of data will only become more important."
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