Big Data to Play Larger Role in Accounting

rtinsights.com | January 21, 2020

A new report reveals that accountants feel that technologies like real-time analytics, machine learning, AI and blockchain will have an increased role in their workflows in 2020. The Institute of Management Accountants surveyed its members and 170 CFOs and other management accountants responded and said they see big changes coming. Data science is being increasingly adopted to improve data governance and analytics capabilities. The respondents said it will continue to be necessary for accountants to keep pace with the changing technology and develop the skills needed to make the best use of it. Four key elements must be present for organizations looking to become data-driven data-savvy people, quality data, state-of-the-art tools, and a supportive organizational culture,according to the report.The report stated that the number of companies deploying big data will exceed the adoption rate of data visualization and process automation.

Spotlight

Paradigm4’s SciDB – the latest innovation from Turing Laureate, entrepreneur, and MIT Professor Michael Stonebraker – is a radically new computational database for mining insights from genomic, clinical.


Other News
BIG DATA MANAGEMENT

New Release of Talend Trust Score Enables Data Teams to Establish a Foundation for Data Health

Talend | May 09, 2022

Talend, a global leader in data integration and management, announced today at Gartner Data & Analytics Summit in London, the latest version of Talend Data Fabric. In its Spring '22 announcement, Talend will add advanced capabilities to Talend Trust Score™, including aggregation and historical views into the health of any dataset. These new features will help businesses analyze combined data quality metrics to evaluate data trust at macro and micro levels, including across all datasets, groups of datasets, or individual datasets. According to a survey taken of global executives in 2021, 78% say they face challenges in using their data, and more than a third say they simply aren't using it to make decisions. In fact, Gartner recently reported that inconsistent business outcomes due to unreliable data and poor data quality are responsible for an average of $12.8M per year in losses for organizations. As the first advanced trust score available in the industry, Talend Trust Score helps businesses assess the quality of their datasets. Talend Trust Score intelligently evaluates and scores data in Talend customer environments by using crawlers that automatically scan datasets in on-premises and cloud data warehouses such as Snowflake, AWS, Microsoft Azure, or Google. Businesses can also identify quality issues with incoming data from third-party systems/source systems and remedy them immediately, before there is a negative impact. Talend's Spring '22 enables businesses to see trends and measure data trust over time and identify data drift issues to ensure reliable information is used to drive optimal business outcomes. New features include: Talend Trust Score by Groups provides more targeted insights into the health of data assets instantly with trust score grouping via metadata. Now users can filter any group of datasets, or individual datasets, and see an aggregate trust score that can serve as an enhanced "single-pane-of-glass" view into data health. This provides a fully tailored view of datasets that are relevant to each user, for an at-a-glance view of actionable data quality metrics. Talend Trust Score Trending provides a temporal view of the health of datasets. Customers can now see trends and measure the effectiveness of data programs on an ongoing basis and surface issues that are not visible with snapshots of quality, such as data drift. Customers may scan datasets at intervals such as daily, weekly, and hourly, providing a view into dataset quality to help provide a more accurate assessment at any given time. In addition to Talend Trust Score updates, Spring '22 accelerates productivity with collaborative workflows that can serve as a conduit between users at different technical levels. Talend expands its centralized repository with Data Quality Rules in Talend Studio, a step to ensure these simple-to-configure rules are available for reuse across the Talend ecosystem, on any data, no matter its location or format. "Talend continues to raise the bar on innovation with our customers in mind. Our advancements to Talend Trust Score will help businesses understand the ongoing quality of their data and feel confident in the decisions they are making. This new product release is another step toward helping our customers leverage healthy data to achieve powerful business outcomes." Jamie Fiorda, vice president, product marketing, Talend About Talend Talend, a leader in data integration and data management, is changing the way the world makes decisions. Talend Data Fabric is the only platform that seamlessly combines an extensive range of data integration and governance capabilities to actively manage the health of corporate information. This unified approach is unique and essential to delivering complete, clean, and uncompromised data in real-time to all employees. It has made it possible to create innovations like the Talend Trust Score™, an industry-first assessment that instantly quantifies the reliability of any dataset.

Read More

BIG DATA MANAGEMENT

Software AG, SAP partner on industry 4.0 data

Software AG | February 24, 2021

Software AG and SAP have partnered to better surface supply chain management data with the aim of improving product quality. The news, which landed as Software AG held its Capital Markets Day, highlights how multiple players are forming partnerships to focus on the industry 4.0 market. Software AG's alliance with SAP will combine SAP's S/4HANA Cloud with Software AG's TrendMiner, which is self-service industrial analytics software for smart factories. According to the companies, the partnership will bring sensor-generated time-series data into the analytics and operational performance fold. Software AG in January reported bookings growth of 31% in the fourth quarter and 24% for 2020. Digital transformation drove demand for Software AG. For 2020, Software AG reported revenue of €834.8 million, down 3.8% from a year ago. Net income (non-IFRS) was €125.4 million. Software AG said that it will "double down on its existing strategy by focusing on five priority areas, namely: continuing to develop its subscription growth engine, fostering product innovation, driving internal simplification to improve productivity, progressing the ongoing cultural transformation driving its success, and taking a more proactive stance towards Mergers & Acquisitions."

Read More

BIG DATA MANAGEMENT

HCL Technologies Acquires Hungarian Data Engineering Services Company Starschema

HCL Technologies | January 17, 2022

HCL Technologies (HCL), a leading global technology company, signed a definitive agreement for the acquisition of Starschema, a leading provider of data engineering services, based in Budapest, Hungary. The strategic acquisition will bolster HCL’s capability in digital engineering -- driven by data engineering -- and increase its presence in Central and Eastern Europe. Starschema provides consulting, technology and managed services in data engineering to Global 2000 companies in the U.S. and Europe. The acquisition combines Starschema’s high-value capabilities and data-focused expertise with HCL’s existing presence in industry segments undergoing data-driven transformation. In addition, HCL will strengthen its position in data engineering, which is an integral part of the company’s digital engineering capabilities and next-generation offerings. “Joining HCL will enable us to keep our strategic focus and expand our data engineering capacity to provide a greater breadth and depth of services to clients. As part of HCL’s full spectrum of technology services, we will leverage our expertise in data engineering and emerging data technologies to solve companies’ data challenges, through building fast, scalable solutions that make people more effective and companies more profitable. This strategic move also represents exemplary career growth opportunities for our people.” Tamas Foldi, Founder and CEO, Starschema “Starschema will strengthen our data engineering capabilities, providing us with the ability to leverage its solutions and talent in Central and Eastern Europe,” said Vijay Guntur, President, Engineering and R&D Services, HCL Technologies. “Starschema’s capabilities will further scale HCL’s data engineering competencies at our integrated delivery centers across the world. Engineering talent will continue to remain in high demand, and Starschema offers a specialized talent pool in a strategic growth area for HCL. Following the acquisition, HCL will be able to offer data engineering consulting and near-shore access to digital engineering services to a wide base of clients.” The transaction is subject to regulatory clearance from the Hungarian Ministry of Innovation and Technology and is expected to close in March 2022.

Read More

BUSINESS INTELLIGENCE

Avantive Solutions Selects Hitachi Solutions America to Optimize Customer Experience with Advanced Data Analytics

Avantive Solutions | January 05, 2022

Avantive Solutions, a global technology and business process outsourcer (BPO) specializing in innovative customer experience (CX), strategic sales, and digital marketing solutions, today announced a partnership with Hitachi Solutions America, Ltd., a leading provider of global industry solutions powered by cloud services from Microsoft, to enhance their data analytics capabilities through improved performance of Microsoft Power BI with Azure Databricks. This will allow Avantive to drive best-in-class performance using machine learning and artificial intelligence solutions. "The goal of our partnership is to take our clients' results to the next level. This will allow Avantive to use optimized technology to increase our contacts, conversions, as well as improve our customers' reachability and level of trust." Amy Brennan, Avantive's VP of Operational Excellence As Avantive's digital transformation partner, Hitachi Solutions will develop a customized data platform — fueled by machine learning (ML) and artificial intelligence (AI) — that will let Avantive leverage the power of cutting-edge analytics and customer insights. "With the ML and analytics scalability of Microsoft Azure and Databricks, Avantive will be able to collect and aggregate data in real time and make efficient moment-by-moment adjustments to live customer outreaches. This capability will markedly improve their contacts, close rates, and performance," explained John Young, Hitachi Solutions' VP of Data Science and Machine Learning. The Avantive team is focused on how they can control and leverage data to make interactions more personalized and relevant for their clients. This is what sets them apart from the competition — using data-driven insights to successfully reach their customers and communicate with them on a more meaningful level. "Hitachi Solutions is helping us to not just append the data, but to find the trends in the data in the blink of an eye. At 5:00pm on Tuesday, we will know which households in which state to call, and we will have the ability to personalize our conversations based on the demographic data we can access with speed and security," said Brennan. Avantive will implement new insights, utilizing multi-faceted demographic appends, allowing greater ability to reach their customers. By providing new data analysis speed and capacity, they will supply clients with greater trending insights and, ultimately, personalized call scripts. Avantive chose Hitachi Solutions as their partner due to the relationship CEO Frank Pettinato built with the Hitachi Solutions team over the past two years. Already using Power BI and Azure, Avantive sought to collaborate further with a Microsoft solutions and technology leader. "Hitachi Solutions impressed us with their team and the comprehensive nature of the solution they provided based on our market position. We've been very impressed with their nimbleness to come up with this unique solution for our company," said Pettinato. While the project is well underway, Brennan is working daily with the Hitachi Solutions team on delivery, review, and developing the release of this cutting-edge technology in the first quarter. "Our goal is to drive strong, measurable performance for our clients. We are already a market leader in insights and innovation. We believe Hitachi Solutions will make that capability richer, allowing us to provide additional actionable insights and placing Avantive Solutions several years ahead of market competitors," added Brennan. About Avantive Solutions Avantive Solutions, founded in 1988, is a Purpose-Driven global technology and business process outsourcer (BPO) specializing in designing, building, and delivering innovative customer experience (CX), strategic sales, and digital marketing solutions. The Company's Omni-Touch™ integrated solution provides actionable insights and drives desired outcomes through advanced analytics, artificial intelligence (AI), and machine learning platforms. Avantive Solutions partners with the world's most recognized brands in communications and media, healthcare, energy, financial technology (Fintech), and eCommerce. To learn more about how Avantive Solutions is bringing purpose to the customer experience, go to avantivesolutions.com. About Hitachi Solutions America, Ltd. Hitachi Solutions America, Ltd. helps its customers successfully compete with the largest global enterprises using powerful, easy-to-use, and affordable industry solutions built on Microsoft cloud services. Hitachi Solutions America provides global capabilities with regional offices in the United States, Canada, Europe, India/Middle East, Japan, and Asia Pacific. To learn more about how Hitachi Solutions can support your organization leveraging Microsoft solutions and technologies, go to global.

Read More