Hitachi and RapidMiner Form Strategic Alliance to Deliver Innovative Predictive Analytics Solutions for the Financial Industry
September 3, 2014     Japanese 
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Hitachi and RapidMiner Form Strategic Alliance to Deliver Innovative Predictive Analytics Solutions for the Financial Industry - JCN Newswire
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Hitachi and RapidMiner Form Strategic Alliance to Deliver Innovative Predictive Analytics Solutions for the Financial Industry
 
Hitachi to Support Financial Services Marketing and Channel Strategies Solutions and Resell RapidMiner's Advanced Analytics Platform

Tokyo, June 4, 2014 - (JCN Newswire) - 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

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 320,000 employees worldwide. Fiscal 2011 (ended March 31, 2012) consolidated revenues totaled 9,665 billion yen ($117.8 billion). Hitachi will focus more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at http://www.hitachi.com/.

Contact:

Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111

 


June 4, 2014
Source: Hitachi

Hitachi (TSE: 6501) (U.S: HIT)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Joint Venture
View more news from these Sectors: Financial General, Engineering, Energy General


 
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