Deloitte Australia has bolstered its Big Data strategy with a deal to introduce Big Data analytics specialist, Guavus Inc, to the the Australian market.
Deloitte Australia has entered into a memorandum of understanding in Australia to work with Guavus.
Based in Silicon Valley, Guavus develops use-case led solutions for network operations, marketing and customer care based on streaming data analytics.
These solutions analyse massive streams of structured and unstructured data from complex relationships across multiple, disparate source systems in real-time.
The company’s technology has been proven at Tier-1 telecommunication carriers globally.
It now processes more than 2.5 petabytes of data per day and analyses more than 50 per cent of all mobile data traffic in the US.
As well as helping Australian telcos to achieve customer, operational and performance improvements, Deloitte intends to use the platform to target financial services, retail, energy industries as well as the public sector.
Deloitte managing partner, Anthony Viel, said businesses were collecting and storing more and more data.
But converting the data into actionable insights presents challenges and opportunities.
“Introducing Guavus to the Australian market is an exciting development for Deloitte and for any business looking to extract actionable insights in real time from increasingly large and complex data streams and drive better business strategy and decision making," he said.
“Guavus has developed a highly effective operational intelligence platform that addresses today’s big data challenges by turning streaming data from multiple sources into the right action at the right time.
“Traditional approaches for collecting, loading and processing data have limitations that impact the ability to produce immediate results.
He said Guavus' ‘live analytics’ model put high volume data to work.
“The outcomes of better informed and faster decision making can mean new revenue streams, reduced operating costs and happier and more loyal customers.”
Guavus CEO, Manish Goel, said every company’s data assets held the key to improving profitability and competing more effectively.
"Guavus is delighted to combine its proven Big Data analytics solutions for operational intelligence with Deloitte Australia’s deep knowledge of their clients’ business to help enterprises increase revenue, reduce cost and risk, and improve customer experience,” he said.
Deloitte Australia chief strategy officer, Gerhard Vorster, said arrangement represented yet another strong point of differentiation for Deloitte in terms of our strategy that was driven by a very strong focus on data, design, digital and economics.
“Digital disruptors are everywhere, and only those who understand the threats and opportunities will succeed," he said.
“Coupled with Deloitte’s strong industry expertise, including across strategy and operations, and our understanding of our clients’ needs, using Guavus to capture the real value of data by turning rapidly growing and diverse data sources into useful and actionable insights presents clear opportunities.”
Viel said the current approach to big data analytics was a store-first approach, followed by searches for insights and opportunities in data that is days, weeks or even months old.
"It is becoming increasingly difficult and costly to analyse the huge amounts of data an organisation stores," he said.
“Guavus has flipped the paradigm, taking a constant, real time, analyse-first approach that drives faster insights and faster actions by rapidly correlating large and diverse streaming and static data.
“Tapping and analysing data as it arrives, rather than looking for specks of gold in an increasingly huge and largely redundant data lake, allows business to understand issues almost instantaneously, implement solutions faster, and at significantly less cost.”