Financial Technology

Financial Technology

June 03, 2014

Hitachi, RapidMiner Enter into Strategic Partnership

Hitachi (News - Alert), Ltd. and pioneering predictive analytics leader RapidMiner have entered into a strategic partnership focused on providing financial service institutions with predictive analytics solutions designed specifically to address marketing and channel challenges.

As part of the pact, RapidMiner's advanced analytics expertise, especially in predictive analysis, will be combined with Hitachi's experience in systems integration for the Japanese financial industry.

Hitachi will also resell RapidMiner products.

Besides this, Hitachi and RapidMiner are collaborating on technical and marketing activities.

Pioneering predictive analytics leader RapidMiner is redefining how business analysts use all kinds of data, including big data, to predict the future. With an open source heritage, RapidMiner is one of today's most widely known and used analytics platforms, providing powerful solutions for a wide variety of industries.

The company 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.

“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, in a statement.

Yamamoto said that a flexible platform like RapidMiner can address a wide variety of needs in the financial industry and help the 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,” said Mierswa.

Back in May, RapidMiner announced a new Platform-as-a-Service (PaaS) version of its RapidMiner Server solution. The professionally-deployed and fully-managed service, hosted on Amazon Web Services (News - Alert), will allow a greater range of organizations to reap the benefits of predictive analytics.

RapidMiner Server is a key part of the company's predictive analytics offering that enables members of disparate functional areas –such as business analysts, line of business executives and IT –to fully realize the business value of predictive analytics.

Users can schedule the execution of resource intensive processes, share models and seamlessly integrate predictive analytics with any other business application.

Edited by Maurice Nagle

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