Ivy Jul 05, 2014 No Comments
At IVY, we have students and mid-career professionals enhancing their knowledge base with the Analytics and IT Programmes. They come from different streams, industries and work areas. It is our constant effort to innovate, educate and empower our Programme participants with the latest in analytics jargon, industry usage and application areas.
It was the foresight of industry-wide analytics deployment, which led to the inception of Ivy Professional School back in 2008. So it is exciting to note how analytics is pervading newer industry verticals, like utilities and supply-chain manufacturing.
This blog highlights a new trend in analytics driven by industry needs and real world Big Data problems – high performance analytics (HPA).
Organisations working in real-time like telecommunications, manufacturing or crisis management, have the need for high-precision insights from Big Data in shortest reporting windows. This has given rise to the practice of ‘high performance analytics’ for driving high-end real-time analytics solutions, doing away with ‘sampling’ and cutting down the time to insights and decision-making.
HPA is also being explored by banking and financial services, healthcare, CPG(Consumer Packaged Goods) , retail, insurance, life sciences, and Government Agencies, amongst others – “to glean insights from big data that once took days or weeks, in just hours, minutes or seconds”.
Understanding high performance analytics (HPA)
HPA or high-performance analytics uses analytics within high performance computing, in a Big Data environment.
High performance analytics (HPA) differs from Big Data analytics (BDA). While BDA is an online analytical processing (OLAP) cube in memory that handles descriptive statistics, HPA imbeds robust analytics in the database itself; in the memory of the data; or over multiple processors in a grid environment. HPA helps tame the challenges of Big Data effecting an average of 38 percent greater use of real-time performance data and predictive analytics.
The 3 pillars of HPA
What does this mean for the Analytics Professional?
As a mid-career professional you can make suggestions to your management – for use of high-performance analytics – to reduce run times, trim costs and increase analytic bandwidth from Big Data. Regardless of the industry vertical you work in, high performance analytics is the best roadmap to an effective DSS (decision support system) in a Big Data ecosystem.
SAS CEO, Jim Goodnight, explained the power of HPA best when he asked in an article in sascom magazine,
“What would you do with the extra time if your code ran in five minutes instead of hours or days?”
- play a round of golf?
- ask more questions of your data?
- get a raise?
- take a much needed vacation
- …..?
Bottomline: HPA has the potential to be a game changer for utility companies (power, telecommunications, water, energy, oil), supply chain manufacturers and Governement agencies.
So if you belong to these industries or are planning for a career makeover in such areas where the demand for in-house Analytics Professionals has just taken off, come to IVY Professional School for Analytics empowerment.
A Must-watch:
Moneyball – A 2011 movie, highlighting a manger’s determination to use data analysis as a competitive weapon ….. a film that reminds how difficult it is to effectively leverage vast information resources …. and why it is important to persuade people in the organization to think differently about their business as much as adoption of new technology.
Suggested Reads:
High-Performance Analytics for the Smart Grid – SAS / GTM Research
High Performance Analytics Solution for Banking – Accenture
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