NEW YORK and MUMBAI, India, Feb. 14, 2018 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, today announced the launch of its Enterprise Data Lake (EDL) for Advanced Analytics on Amazon Web Services (AWS). TCS' new offering will enable enterprises in the banking and financial services industry to reimagine, transform and optimize business processes faster by leveraging fast data and data-driven intelligence.
Data-driven digital disruptions are shifting paradigms in the banking and financial services industry, making it essential for organizations to view themselves as customer-centric rather than product-centric entities. Rapid technological advancements give banking and financial institutions access to large volumes of data from multiple touch points in the value chain. Data can help banks deliver a superior customer experience, but without the capability to collate, structure, and analyze the data, it remains largely unusable.
The Global Business Solutions Labs in TCS' Cincinnati facility leveraged AWS' big data services (Lambda, Kinesis Streams, Kinesis Firehose, S3 Dynamo DB, and Redshift) to incubate and design a reference architecture framework and solution. TCS' EDL for Advanced Analytics solution on AWS provides a single persistent data store to house all data (structured, semi-structured and unstructured) in its native format, and it can be accessed across the organization's processing, analytics and regulatory functions. The solution rapidly identifies historical and trending patterns across customer segments by leveraging AWS Machine Learning based on behavior, preferences, needs, and sentiments. It is then able to deliver relevant propositions, real-time contextual communications, and a consistent experience to enhance customer-centric business processes and service models.
"TCS's technical expertise and the globally accessible EDL framework and solution architecture delivered through the secure, robust and scalable AWS, allow our customers to benefit from accelerated enterprise-wide transformation and improved business agility," said Raman Venkatraman, Vice President and Global Head of Alliances & Technology Unit at TCS.
TCS' EDL is also differentiated by flexibility. The solution deploys on the AWS Cloud using AWS-native services, open-source products and interoperable software on the AWS marketplace.
"Amazon Web Services is excited about TCS's commitment to help customers uncover data driven insights for intelligent actions through this Enterprise Data Lake Solution. AWS platform provides the flexibility to this solution to help leverage leading AWS cloud technologies," said Christopher A. Niederman, GM, Worldwide Strategic Alliances, Amazon Web Services (AWS).
The EDL solution, while developed for banking and financial institutions to help them lower the cost of data management and operational infrastructure, and enhance agility, scalability and in-memory computing for enhanced performance, can also be applied to other industries equally well.
Seeing the value offered by TCS' EDL for Advanced Analytics on AWS, customers have already partnered with TCS to optimize their costs, operational efficiency, agility, scalability, security, and regulatory compliance. Existing customers include:
- An American investment management firm used TCS' EDL Framework to build a customized AWS EDL for their Analytics and Insights needs.
- A leading U.S. financial services provider leveraging TCS's EDL to build rich, intuitive, interactive and role-based analytics in real-time to personalize customer experience.
About TCS' Business Solutions Unit (BSU):
TCS' strong partnerships with technology vendors, Global Business Solutions Labs, specialized knowledge of emerging technologies, deep domain expertise, and global teams, enables us to help customers solve business problems or develop new business models through proof of concept, proof of technology, and validation of solution architecture. We drive Business innovation for our Customers by leveraging technologies in the areas of Cloud, Cyber Security, Business Analytics, Big Data, Blockchain, APIfication, Connected Networks, Artificial Intelligence, Integration Services, Business Visualization and Simulation enablers. Our industry-specific business solutions that leverage leading and disruptive technologies on an interoperable platform supported by a workforce with cross-technology skills help clients drive Digital Re-imagination and Simplification.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world's largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique, location-independent Agile delivery model, a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 390,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.6 billion for the year ended March 31, 2017 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
SOURCE Tata Consultancy Services