CHICAGO, Sept. 28, 2017 /PRNewswire/ -- Open Data Group, a private company that has spent the past 18 years innovating the way analytic and predictive models are deployed, has announced the evolution of their organizational mission from consultation to creating software products. These will allow enterprises to deploy more analytics with higher quality and greater efficiency than ever before. This shift to Analytic Deployment Technology helps enterprises make analytic deployment a core competency vital to competing successfully in today's business environment.
Recently the industry has invested heavily in the world of analytics and data science. There are innumerable languages, analytic creation software environments, and open source technologies now available to empower analytic professionals (e.g. data scientists, mathematicians, statisticians, actuaries, etc.) to create the best analytic models possible. The problem is that there is still a struggle to move the models from analytic team creation to IT team production successfully. Today's deployment process creates new, complex challenges that must be solved in order for businesses to achieve ROI from their investments in analytics; key challenges include:
- Production Requirements: Analytic models often impact output and quality, making hiring and retention challenging
- IT Environments are often incapable of managing the complex schemas now underpinning both standard analytic models, as well as predictive models based on machine learning advances.
- As a result, IT professionals find it difficult to scale the model in production, support SLAs in a multitude of verticals and environments.
- Manage the varying performance needs and requirements of an enterprise scale business.
- Increased IT costs and quality issues: There still exists need for rapid, flexible iteration of production models to remain competitive
- Production environments: Companies supporting open source, micro-services approaches for reduced costs and future flexibility are being forced to consider expensive, monolithic deployments to handle all of these issues
"Analytic deployment needs to be a discipline inside any organization looking to maximize the benefits of their analytic and data science investments," said Open Data Group's Chief Data Scientist, Robert L Grossman. "Only with a language-agnostic analytic deployment engine, can you build the competency to move any analytic or predictive model into production efficiently, then update the model as often as needed."
Open Data Group is pioneering Analytic Deployment Technology with their core technology, FastScore™. This technology is a point solution that bridges the analytic deployment gap that exists today between Analytic and IT professionals. By embracing open source and integrating with any existing IT environment using a micro-services deployment approach, FastScore sits between analytic model creation and IT production environments, managing multiple input and output streams seamlessly.
"Speaking from decades of experience, I can tell you that we desperately need to address the emerging problems of Analytic Model Deployment in every industry," said Phil Fasano CEO of Bay Advisors and formerly CIO of AIG and Kaiser Permanente. "As organizations continue to gather massive data sets and develop more advanced analytic models to extract value from them, they are increasingly encountering barriers to production deployment, scale, and servicing. Software focused on analytic deployment to enterprise production environments is needed to enable Analytic and IT team success that drives ROI for their businesses."
Open Data Group is hosting a 6-part educational webinar and whitepaper series starting October 3rd. For more information on Open Data Group and to register for the webinar, please visit www.opendatagroup.com.
About Open Data Group
Open Data Group was founded by Robert L. Grossman, a world-renowned Data Scientist and Frederick H. Rawson Professor at the University of Chicago. For the last 18 years, the company has helped enterprises build analytic and predictive models over big data, and recognized that these models continued to evolve with the presence of machine learning and artificial intelligence. In 2014, technology veterans Pete Foley, now Chief Executive Officer, and Stu Bailey, Chief Technology Officer, joined to harness Open Data Group's deep expertise in Analytics Team, analytics, and IT consultation to create FastScore™, the enterprise grade technology that now defines the Analytic Deployment Technology category.
Media Contact: North 6th Agency
SOURCE Open Data Group