What if someone told your CEO that he was making vital business decisions based on five percent of the useful data available to the company?
Needless to say, he wouldn’t be happy.
But that’s precisely what’s happening in firms of all sizes says Shawn Blevins, Executive Vice President of Opera Solutions, a leading global Big Data Science company.
Blevins explains that there’s a flood of newly computable data -- we’re talking about data generated by digital devices, click streams, applications, social feeds and so on -- from inside and outside of enterprise firewalls, that most companies don’t yet have a handle on.
Once that handle is found a world of new possibilities opens up, says Laura Teller, Chief Strategy Officer at Opera Solutions.
In order for that to happen, companies need to be able to organize and analyze huge masses of data and to then transform it to something of value (aka “signal”) from which actionable insights can be drawn.
Introducing Signal Hub
To help companies do this, Opera Solutions is introducing its Opera Solutions Signal Hub™ today at Oracle Open World. The Signal Hub™ is a turnkey, enterprise-ready solution that integrates with Oracle’s Big Data Appliance and Oracle’s Exalytics Big Data Machine to bring their mutual customers the ability to usurp value from their data assets quickly.
It is delivered “as a service” in either a software licensed model or as Software as a Service (SaaS) in the Cloud. It offers ready-built modules for Marketing, Operations, Purchasing and a variety of industry specific offerings such as healthcare, government and credit and risk.
What’s especially notable about Opera Solutions Signal Hub™ is the team of people who build it, maintain it and continually refine it; 240 of them are data scientists -- those brainy, well educated, short-in-supply geniuses who are masters in canceling out the noise from massive data flows and applying algorithms and advanced machine learning science to find predictive signals.
A Tool that's Open to Instruction
These predictive signals are then leveraged in Signal Apps that provide machine recommended actions to front-line decision makers who can then either act accordingly or tell (aka “teach”) the machine why they opted out. The machine uses feedback from humans to gain insight and to make better recommendations in the future.
Interesting examples of insights and prescriptive actions Opera Solutions Signal Hub™ and Signal Apps have made include: informing a hotel chain when one of its competitor’s loyalty program’s frequent guests (250 nights plus) was about to jump ship so that they could make him an irresistible offer to switch at exactly the right moment; the exact locations in which a used car (brand, model year and feature specific) can be bought cheap or sold for the biggest bucks; who will pay their bills ahead of schedule and who won’t and so on ...