Article appears in SAP Startup Focus Newsletter – Issue 7
Big data applications in the cloud can make analytics affordable to small enterprises that can’t take on the operational expense of large analytics teams. Magile Software focuses on the Insurance vertical to bring affordable big data analytics by leveraging SAP HANA.
Using Magile Software and SAP HANA’s real-time processing of disparate data sets, product creators can determine in real time the effectiveness of their decisions as they build out new insurance products. For example, taking real-time analysis of existing product performance provides a valuable feedback loop to front-end product designers. In real time, they can predict optimal values for design criteria to ensure the new product succeed where the last ones may have had a shortcoming.
The Insurance industry is not new to predictive analytics but it usually takes an expensive in-house team to analyze a large data set to achieve meaningful product insight. With the advent of big data solutions, smaller companies can take advantage of and analyze multiple data sets in real time with some help from lower costing analytics solutions from Magile Software. Bring big enterprise analytics to smaller Insurance companies who were unable to afford such luxuries in the past. Small insurance companies will now have an affordable path to scalability and rapid deployment.
Future Magile Software is a leader in not just Insurance but in multi-industry data analytics applications in the cloud. Utilizing SAP HANA’s cloud deployment along side the real-time capabilities and predictive analytics algorithms, Magile Software and their team will enable ANY small sized enterprise company to grow organically from its humble beginnings to large enterprise insight.
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Chak Kolli, Founder & CTO, Magile Software Inc.