Mike Merritt-Holmes, VP Global Strategy on why Think Big Analytics prides itself on its dedication to innovation.
How does Think Big Analytics incorporate innovation into its strategy?
Think Big Analytics works with many companies and we are always looking to push the boundaries of innovation. So, in that regard, it sits at the heart of our strategy. Our projects range from deep learning initiatives seeking to add value on business outcomes, right through to engineering focused work that looks at the best and most efficient ways to ingest data. Ultimately, we want to deliver our customers new types of value that aren’t otherwise available in the market.
What are the internal R&D examples?
One of the most recent examples would be the open source launch of Kylo™, a data lake management software, in March. It represents a huge step forward for organizations looking to bridge the gap between business and IT by helping to build capability on their data lake without having to code. Therefore, it empowers business users by enabling them to get involved at any stage. We’re also pushing innovation around data science solutions, such as Rapid Analytic Consulting Engagement (RACE), which allows us to quickly create a project and client specific labs that can drive insights in a matter of weeks rather than months, thus accelerating time to value.
How about AI and analytics success stories?
Regarding AI, we are working on a number of ground-breaking projects For instance, deep learning projects that help identify objects in a moving car external to that vehicle, to improve safety on the road.
Also, we are engaged in an AI-driven banking project. The focus is on reducing the false positives in detection of fraudulent activity. The project has been a game changer for our customer; not only has it diminished false positives by around 80%, resulting in considerable manpower savings, it has also reduced fraudulent activity by around 50% saving the bank millions of pounds.
Of course, IoT is also playing a key role in our innovative projects. We are engaged with a global shipping container company to analyze how and why it moves its inventory to improve the supply chain and identify and eliminate any inefficiencies relating to how, when and why each product is moved. As a result, the company is able to get the right containers in the right place at the right time. Given the volumes at stake, that amounts to a huge cost saving in preventing unnecessary redistribution, as well as freeing up staff time to be better spent elsewhere in the business.
All these projects have helped our customers to reduce costs significantly, as well as generate new revenue opportunities.
How do we differentiate Think Big Analytics from the SIs and competition?
The fact that we live and breathe data science and advanced analytics – whether that is open source, proprietary software or leveraging Teradata‘s world class warehouse – separates us from the competition. Our agility enables us to quickly react to the market and incorporate the learnings into our next solutions. Because we are able to bring out accelerators and frameworks, based on best practice and extensive experience, we are speeding up the process of delivering value for organizations. For example, rather than spending months and months trying to build a pipeline into a data lake, we can spend weeks doing that and then spend months delivering business outcome after business outcome through advanced analytics.
How do you embrace innovation?
While we pride ourselves on delivering innovation for our customers, we cultivate it internally. Innovation and investment in R&D is in the core of our strategy; putting a lot of effort into creating the right structure to let it thrive. We make it possible for anybody to get involved through schemes like the Shark Tank, where we invest into driving out novel ideas and develop them into innovative solutions.
Innovation is at the heart of Think Big Analytics’ strategy, and we will continue to push the boundaries of data science to deliver our customers the very best in class business solutions. Whether it’s deep learning projects or engineering focused work – we offer a hybrid, agile service which is unique to Think Big Analytics.