Hitachi and RapidMiner Form Strategic Alliance to Deliver Innovative Predictive Analytics Solutions for the Financial Industry
(Marketwire Via Acquire Media NewsEdge) BOSTON, MA and TOKYO, JAPAN -- (Marketwired) -- 06/03/14 -- Hitachi, Ltd. (TSE: 6501) and RapidMiner today announced a strategic partnership focused on providing financial service institutions with predictive analytics solutions designed specifically to address marketing and channel challenges. The partnership combines RapidMiner's advanced analytics expertise, especially in predictive analysis, with Hitachi's experience in systems integration for the Japanese financial industry. Hitachi will also resell RapidMiner products.
Hitachi and RapidMiner are collaborating on technical and marketing activities. A joint pilot project focused on fraud reduction was initiated in May 2014.
With the increased usage of mobile devices, and the pervasive reach of social networking, financial service institutions have more opportunities to collect and utilize a great variety of data from both internal and external sources. In this big data era, Japanese financial service institutions are more focused on data analytics in order to deliver increased customer value.
RapidMiner offers highly scalable predictive analytics applications, including operational dashboards, metrics and performance reports in a single, easy-to-use platform that seamlessly integrates with popular enterprise data sources. RapidMiner's predictive analytics software is helping companies across multiple industries in areas where advanced analytics can make a significant impact, such as churn reduction, fraud detection, predictive maintenance, sentiment analysis and more.
Highly sophisticated solutions are necessary to enable financial service institutions to analyze data on a real-time basis from multiple viewpoints to ensure the capabilities such as: Detection and prevention of fraud on a real-time basis and the creation of alerts Timely and appropriate one-to-one messaging based on past customer transactions and/or behaviors Customer interaction optimization -- inviting appropriate customers to appropriate channels to improve customer engagement and satisfaction through internal data analysis as well as social data monitoring Customer feedback and voice of the customer analysis to gain more customer satisfaction and prevent customer churn The result of the partnership will be a key component in Hitachi's Innovative Analytics business initiative and help extend RapidMiner's global reach.
"Our customers are looking for a way to leverage the next generation of analytics in order to grow their businesses through a more customer-centric approach," said Tsugio Yamamoto, president of financial information systems division. "A flexible platform like RapidMiner can address a wide variety of needs in the financial industry and help our customers to achieve their business goals." "Hitachi and RapidMiner have partnered to become the premier trusted providers of predictive analytics for the financial services industry," said Ingo Mierswa, co-founder and CEO for RapidMiner. "Together we deliver best-in-breed analytics solutions that support corporate success." About Hitachi, Ltd.Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, health care and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
About RapidMinerPioneering predictive analytics leader RapidMiner is redefining how business analysts use all kinds of data, including big data, to predict the future. With an open source heritage, RapidMiner is one of today's most widely known and used analytics platforms, providing powerful solutions for a wide variety of industries. For more information, visit www.rapidminer.com.
Contacts: Japan: Saya Harada Hitachi, Ltd.
+81-3-5471-8900 Email Contact U.S.: Mariah Torpey Davies Murphy Group for RapidMiner +1-781-418-2404 Email Contact Source: RapidMiner
Huawei Talks SDN at ITEXPO Miami
Xirrus Unveils Unified Access Strategy
IoT Evolution Track
Smart City with a Social Conscience
Smart City with a Social Conscience