OpenText is bringing a new advanced analytics solution to the cloud, allowing users to access tools to make sense of their big data with an on-demand tool available through a tiered subscription pricing model.
Waterloo, Ont.-based OpenText is a software developer specializing in enterprise information management, and its new cloud-based advanced analytics solution is OpenText Big Data Analytics. According to the vendor, it will allow users to access, blend, explore, and analyze their big data for a complete view of their customers or operations, and it’s available in the OpenText Cloud, OpenText Big Data Analytics is offered through a tiered subscription model.
With more and more information being gathered by companies, there is ever greater potential to use advanced analytics tools to extract actionable business intelligence from all that data to help drive better business decisions. The trend in the analytics space is to move the ability to run reports and extract that intelligence down from data scientists or IT managers to the line of business with simpler tools, allowing insight to be gained faster and turned into action more quickly than before. And predictive analytics can predict future actions based on historical data in real-time.
“Extracting the value from big data has become a necessity in enabling companies to better understand their market and customers, but expensive data scientists or IT resources have been required to mine that data,” said OpenText CEO Mark J. Barrenechea, in a statement. “OpenText Big Data Analytics makes the power of real big data and advanced analytics capabilities accessible to everyday business users in the cloud. OpenText is the only vendor with integrated solutions for both advanced and embedded analytics to help global leaders understand and engage their market and customers.”
Among the key features of OpenText Big Data Analytics are: offers predictive analytics capabilities not offered by traditional Business Intelligence tools. Key features of the new solution include:
- Built-in High-Speed Analytics Columnar Database: According to OpenText, this will provide significantly faster performance than regular relational database solutions
- Built-in Statistical Algorithms: Allows analysts to do profiling, mapping, clustering, forecasting, decision trees without coding or involving the IT team
- Cloud Availability: Allows users to get up and running faster without having to invest in infrastructure, and access the solution from anywhere
OpenText Big Data Analytics is the first in a series of planned Analytics-as-a-Service offerings from the vendor, which adds one of its foals is to bring the power of predictive analytics to businesses of all sizes. The solution is available now, with pricing ranging from $18,000 per year for 50 million rows of data to $300,000 a year for up to a billion rows of data, with solutions for unlimited data beyond that point.