The Challenge: Surviving the Data Tsunami Isn’t Good Enough… Today You Have to Ride the Wave
We are witnessing a veritable data tsunami. In fact, the amount of data we are generating is more than doubling every two years. In 2011, 1.8 zettabytes of data were generated worldwide. What does that mean? A zettabyte is a trillion gigabytes – that’s a 1 followed by 21 zeros. If there are 2100 electronic characters on a page and each character represents one byte, then 1.8 zettabytes would create a stack of pages that would be taller than 40 times the distance between the Earth and Pluto. Today, many organizations feel that their ability to collect data is far more advanced than their ability to capitalize on it. So your organization has learned how to store and manage all of the data it collects… Now how are you going to put all of that data to work?
The Solution: NovoAnalytics — Recognizing Patterns to Create Competitive Advantage
NovoAnalytics is an advanced services offering that draws on decades of experience dealing with “Big Data” challenges. Using customized tools and consultative analysis, NovoAnalytics identifies the patterns in data, yielding insights that can lead to more informed decisions. The NovoAnalytics team is comprised of scientists, engineers and analysts who think “out of the box.” They approach challenges with fresh perspectives, applying their extraordinary expertise and experience to find innovative ways to solve even your most difficult business problems. A truly intelligent solution, NovoAnalytics excels at…
- Predictive Modeling and Analysis: Predictive analytics forecasts probabilities and trends. Predictive modeling uses statistics to anticipate future behavior, based on past performance. For example, customer demographics and purchase histories might be used to predict future sales. Spam filtering is also a typical example, whereby predictive modeling is used to identify the probability that a given message is spam.
- Data Mining: Data mining extracts information from databases that are too large to analyze manually. It often uncovers unforeseen patterns and relationships that human analysts might miss because they are unexpected. For example, through data mining, a supermarket operator discovered that when men bought diapers on Thursdays and Saturdays, they also tended to purchase beer for the weekend. The retailer used this information to increase revenues by merchandising beer closer to diapers and by selling both beer and diapers at full price on Thursdays.
- Real-time Streaming Analysis: NovoAnalytics methodologies can be applied to warehoused data or to real-time streaming data for on-the-fly analysis.
- Decision Support Systems (DSS): Decision Support Systems derive information from raw data and predictive models to identify opportunities and insights, thereby helping organizations gain knowledge and solve complex problems. By comparing the consequences of decision alternatives, a DSS can help decision makers choose more wisely.
Transforming Big Data Into Competitive Advantage
The NovoAnalytics team has a proven track record of developing successful, custom business intelligence (BI) implementations for a wide variety of commercial industries and government organizations.
Applications for NovoAnalytics Solutions
- Product Development
- Brand and Product Marketing
- Product Lifecycle Management
- Drug Discovery
- Capacity Planning
- Customer Relationship Management (CRM)
- Security Management
- Change Management
- Risk Management
- Disaster Recovery
View the NovoAnalytics Data Sheet.
To learn how NovoAnalytics can help your organization gain greater insights into your business and transform data into a competitive advantage, contact us: Sales@NovoDynamics.com