CIOTechOutlook >> Magazine >> October - 2014 issue

Modak Analytics: Leveraging Agile Analytics Services to Drive Smarter and Bigger ROI

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Today, many organizations bent on putting their data to use to gain insights of businesses. Despite of identifying and mapping underlying challenges involved in Analytics Projects at the outset; the success of Analytics projects is not often guaranteed. One of the biggest factors that decrease the success rate of BI projects is the high cost of implementation. These BI and analytics projects experience cost overruns, low functionality and high consumption of IT resources during Data Integration. Modak Analytics, headquartered in Hyderabad, trims down the high failure rate of BI projects by leveraging its open source technology and analytics services that reduce huge investment cost in software implementation and allow organizations to take up data analytics initiatives without much muddle.
In India, though the private sector is spearheading to adopt BI, there is still a dearth of Big Data processing based decisions that rage problems about its adoption. Indian customers are cost-conscious and are reluctant to invest in Data Platforms unless these bring a big ROI drivers. Modak Analytics addresses this predicament by developing propriety tools which drive returns that are measurable in short spans. “Modak has developed propriety tools and processes that enable Indian business to leverage open-source platforms and achieve ‘Faster Time to Value’ in their Big Data journeys”, says Aarti Joshi, Co-founder and EVP, Modak Analytics.
CIOs face an increasing erratic environment when it comes to handling large volumes of data as they are fail to turn raw data into revenue. This brings new challenge to data integration, exploration, and garnering useful insights. Modak Analytics underpins next-generation analytics based on Hadoop and NoSQL and enables executives to unite and evaluate the data in ways that produce new insights into markets and business strategies. In addition, top management can break the data at a click of button to review how data is being used with Modak’s Performance Management Dashboards.
Innovation and automation remain the hallmarks of Modak Analytics. Incorporating automation into its core strategy for building data platforms significantly reduce the time and resource needed for any Analytics projects. Furthermore, the company leverages a proprietary tool “RapidETL” that generates automated code for Data Integration and saves time and resources by shortening the development and testing cycle by four times.
Determining the imperativeness of transaction security in banks, Modak has developed fraud analytics solution to raise alarms during suspicious transactions. Extending its solutions and services to Marketing Campaign Management and Fraud Management for BFSI sector, the company has successfully built India’s first Customer database that has lifestyle segmentation and socio-economic classification profiles for all consumers to allow micro targeting of Customers.
With a vision to allow its clients to achieve the ‘Faster Time To Value’ in Analytics projects, Modak will use “Pattern Based Programming” paradigm by which it will filter and sort data and come up with a fine solution with high degree of automation. The company will soon be spearheading to provide Data Analytics services ranging from building Data Platforms to developing Advanced Analytics models.

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