As Big Data continues to become a hot topic, companies like HP are paving the way in streamlining the process. They want to ensure more businesses can have access to readily available tools. To help support this mission, HP has developed Haven Predictive Analytics as reported by Information Week, which is an open source platform for data scientists and companies alike.
The platform works with HP’s Distributed R, which is a type of modeling language based off of the open source version known simply as R. Distributed R and R create statistical models out of data which can in turn be used in reports that businesses utilize to better understand the landscape of their competitors, future markets, or even streamlining internal processes. However, Distributed R can process data faster than R. HP claims it can quickly manage petabytes of data without any issues.
The goal of Haven Predictive Analytics is right in the name: predictive analysis. The platform will allow businesses to have an upper hand on strategy in all aspects of their organization. However, HP is doing this in a different way by providing programming languages and pre-made algorithms already familiar to IT professionals using mainstream technology enterprise tools. That means these same professionals can immediately jump into Haven Predictive Analytics without having to learn a brand new language or database.
One of the biggest hurdles many companies have faced when it comes to Big Data is learning the technology that has been released. Data management depends on the success of this process. For the longest time only major technology corporations like HP had the resources to build out a Big Data department with data scientists that already know the technology or even built it themselves. With Haven Predictive Analytics and the Big Data algorithms HP is creating, they hope to make processing large amounts of data something as easy as using email or a CRM dashboard.
According to Forbes, the industry of Big Data is expected to grow by 50 percentwith a predicted $50 billion market in the next five years. This means companies like HP will continue to pioneer near solutions for businesses as well as new start-ups providing tools and resources to better understand data. In turn, this huge growth in the industry means greater solutions for businesses outside of the Big Data market to better allot resources, acquire top talent, and tap into undiscovered markets that were hiding right in the company’s own collected data.
Haven Predictive Analytics is joining the ranks of tools that are trying to make Big Data easier to utilize for businesses. Others in the market include Neustar, Lattice, IBM, and Microsoft. This also marks HP returning to their original roots of research and innovation rather than outsourcing the process to other companies and buying the proprietary source. HP’s Big Data department developed Haven Predictive Analytics internally and will continue to fine-tune it as new technologies emerge.
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