2004
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June 8, 2004 | NEWBURYPORT, Mass. & TORONTO, Canada
Genalytics and Platform Computing Form Joint Partnership
Genalytics, a leading provider of advanced business analytics software, today announced it has formed a partnership with Platform Computing, the largest distributed and grid computing software vendor. As part of this joint agreement, business analysts can now analyze data and create more accurate predictive models in less time within a grid-computing environment.
While the volume of data collected and stored by today’s retail financial services firms is growing exponentially, their ability to analyze this information remains a challenge. As a result, these firms are turning to advanced analytic techniques like the machine learning algorithms embedded in Genalytics software to capture the full value of this enterprise data. Genalytics’ approach allows firms to employ all of their data in their analytic models which ultimately drives significantly greater predictive power and returns. These new algorithms benefit from a high-powered grid computing solution like Platform Computing’s Platform Symphony. Platform Symphony helps business analysts distribute the CPU-intensive genetic algorithms across an affordable, virtualized computing infrastructure, enabling them to deliver more accurate predictions about future customer behavior.
When combined with Genalytics’ advanced business analytics software, Platform Computing’s Platform Symphony delivers a more scalable and reliable analytics solution over low-cost commodity hardware. This results in more accurate analyses than is possible with other analytic approaches.
“Platform is partnering with Genalytics to help optimize their customers’ infrastructures with our grid technology solutions,” said Robert Boettcher, VP, Financial Services, Platform Computing. “Credit card providers, for example, can now effectively gain more insight from existing data, as Genalytics’ software provides them with a better way to mine customer data.”
“Grid computing is the future in the enterprise analytics space,” said Doug Newell, president and CEO, Genalytics. “Our customers are recognizing the cost advantages of using standard, off-the-shelf hardware and sophisticated grid infrastructures like Platform Computing’s Platform Symphony product in mission-critical enterprise applications.”
Genalytics is a supplier of advanced business analytics software that helps marketers and data analysts better target customers, discover new market opportunities, and manage risk. The company’s software uses existing data to create predictive models that make accurate projections about future customer behavior, leading to higher promotional response rates and fewer charge-offs from delinquent accounts. Genalytics’ enterprise-class software platform automates the tedious, time-consuming data preparation process, reducing the total model development cycle time from weeks or months to days. Genalytics software is used by some of the world’s leading marketers of financial services, including CapitalOne, Providian, UBS, Juniper Financial, CheckFree, and Upromise.
Platform Computing's intelligent, practical enterprise grid software solutions help organizations optimize IT resources to Accelerate Intelligence™. We plan, build, run and manage grids that link IT to core business objectives, and help our customers improve service levels, reduce costs and enhance business performance. With industry-leading partnerships and a strong commitment to standards, we are at the forefront of grid software development, propelling over 1,600 clients toward powerful insights that create real, tangible business value. For more information please visit http://www.platform.com.
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