Business Opportunities with Oracle In-Database Analytics
By DataMurthy-Oracle on Apr 14, 2014
Data-driven organizations across all industries adopt data warehousing and big data solutions to enable fast, high quality analytical decision-making. Data scientists and other specialized analytical knowledge workers are getting a lot of buzz in the industry due to the increasing popularity of advanced analytical methods like data mining and geospatial analysis. While many organizations have historically either implemented advanced analytics as separate, disconnected solutions or simply avoided them altogether due to the high complexity of implementation, the insights gained through these methods have become essential to effectively compete in today’s environment. Oracle helps data-driven organizations simplify and accelerate the delivery of advanced analytics through its industry-leading data warehousing and big data solutions by embedding analytical capabilities in the Oracle Database platform. In-database analytics enables advanced analysis against large datasets with little or no movement of data from one system to another.
So how can in-database analytics help? Here are a couple ways we’ve seen leading customers use in-database analytics:
One way organizations are using in-database analytics is to drive new sources of revenue. Consumer facing companies in brick-and-mortar or online retail have long relied on advanced analytics techniques like market based analysis and principal components analysis to drive market segmentation decisions. By leveraging in-database analytics in conjunction with existing CRM data in the data warehouse, consumer organizations can empower analytical teams to run sophisticated analyses extremely quickly. Great examples of this include Stubhub’s use of in-database analytics to power their online marketplace, Dunnhumby’s use for accelerating and deepening customer science engagements, and Unicoop Firenze’s use to correlate retail stores with consumer addresses for improved marketing.
Organizations are also reducing costs and driving operational efficiency with in-database analytics. Government organizations around the world use in-database spatial and graph analytics to simplify land surveys and accelerate the creation of geospatial visualizations. A great example of this is the Singapore Land Authority who saved millions of dollars by developing a geospatial web application. Chan Chin Wei, CIO for the Singapore Land Authority, comments, “Without our GeoSpace portal, developed using Oracle solutions, 70 government agencies would need to spend a total of US$9 million on application development and US$2.5 million in annual maintenance to enjoy the data sharing capabilities and benefits that this portal offers.” Likewise, private organizations, like CSX, also make use of in-database spatial analytics to optimize the allocation of their workforce as well as the flows of their transportation networks. All of these analyses are done natively in the Oracle Database without the complexity and data latency of separate systems.
Beyond revenue growth and cost savings, organizations also use in-database analytics to mitigate risks. Financial institutions like banks, credit card processors, and insurance companies use in-database analytics to improve their ability to fraud detection. FiServ, one of the world’s largest financial services providers, uses Oracle in-database analytics to quickly develop and tune new fraud models that can easily be rolled out to production systems. Likewise, government organizations use in-database analytics to improve their ability to detect threats to public safety. As an example, The Rio de Janeiro State Police have also used in-database analytics to more quickly empower criminal investigators with geospatial information about suspected crimes. André Drumond, CIO, comments, "With the occurrences map based on Oracle Spatial and Graph, we can visualize and create maps of criminal occurrences.” The national Italian Department of Public Security also uses Oracle’s in-database analytics to ensure better public safety. The City of Toronto used Oracle technologies to geographically map social media data to improve their ability to detect threats to public safety. In fact, the City of Toronto will be presenting their creative use of Oracle technologies at an upcoming webcast in April 2014.
Whether revenue growth, cost savings, or risk mitigation, Oracle in-database analytics simplifies and accelerates the delivery of advanced analytics for data-driven organizations. For more information on Oracle’s data warehousing and in-database analytics solutions, check out www.oracle.com/datawarehouse