Headquartered in Indianapolis, IN, Perceivant targets companies who are having performance issues with scaling their BI operations. “We improve the performance and off load the maintenance of the solution from their internal team to ours,” says Rowe. The company’s services range from Real-Time Analytics, Dashboards & Alerts, Data Warehousing & Data Mining, Data Science Consulting to Predictive Analytics.
While other firms look at Big Data in a ‘volume’ perspective, Perceivant focuses on ‘velocity’ of data. This has prompted the company to shift from traditional Hadoop to a new platform. Perceivant in many ways replaces Hadoop with query capability. “Our solution is 10-100 times faster than Hadoop at one third of the total cost of ownership,” claims Rowe. “It also moves away from the batch nature of Hadoop to real-time.”
Unlike the traditional ways of predictive analytics that turn over results to customers in reports, Perceivant’s platform allows users to operate predictive analytics and deliver the results via dashboards, making it actionable on an on-going basis. “An average business user could easily work on the interface of this platform instead of needing an IT person to query large data sets,” asserts Rowe.
Perceivant has built a real-time maintenance free data warehouse for performing analytics and machine learning. This, combined with the company’s data science team, creates a compelling value
financial and retail industry. The company sees more traction from healthcare—specifically the wellness sector as there is an explosion of data in these markets. Due to the security reasons and sensitivity to data ownership, the requirements of a solution in this sector is held to a higher level. “While open source software like Hadoop can be secure, it doesn’t provide security right from the beginning, and also the increased adoption cost of open technologies is an added disadvantage,” says Rowe. Perceivant’s solution addresses these additional needs as well as provides technical and analytical expertise when needed. These capabilities have earned the company major clientele including MD Revolution, Indianapolis EMS, Bearface Instructional Technologies and a Fortune 100 health insurer.
In one use case, Perceivant helped an Indiana-based financial institution develop a marketing strategy to make each individual customer more profitable. Using a four-step engagement process, Perceivant’s data scientists uncovered the correlation between the products customers’ purchased and their profitability and showed that the company’s most profitable customers utilized a certain combination of the bank’s products. This insight allowed the data scientists to assert that there was an ideal combination of accounts that resulted in profitability at the individual customer level, allowing the executives to develop a marketing strategy that would make each individual customer more profitable. The result? A 10-15 percent engagement increase in their marketing campaigns.
Going forward, Perceivant continues to extend the number of integrations to other data services to make it easier to combine public and private data. “We have more features coming to support the data scientist in data exploration and visualization to make their jobs easier when working with large data sets. The real excitement is around our data mining tools that will expand their way into the hands of business users,” concludes Rowe.