The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

SAS’ ‘Big Analytics’ Tackles Big Data, Speeds Problem Solving

A powerful new release of SAS software helps enable faster, better decision making by improving analysis of vast and growing amounts of data. Whether a retailer optimising pricing for thousands of items, a hospital identifying which treatment plans improve patient health, or a government agency fighting fraud, SAS, the leader in business analytics, helps organisations scour “big data” through “big analytics” and data management to reveal hidden insights and produce better decisions.

New capabilities in SAS simplify big data management and allow businesses to derive insights from all of their data, not just a sample. Enterprises such as online travel site Expedia can now use their data assets in ways that were not previously possible.

“Expedia tracks and measures everything,” said Joe Megibow, VP & general manager, Expedia US. “We rely on SAS to handle Expedia’s big data. SAS predictive analytics and data mining analyse nearly 200 terabytes of customer and clickstream data in our data warehouse. Customers need a reason to do business with Expedia. Analytic insights help us deliver the value and convenience that earns customer loyalty and boosts bookings and revenue.”

Available now, the upgrade has features that help organisations tackle massive volumes of structured and unstructured data, including business transactions, social media, location and multimedia.

With a unique ability to analyse larger volumes of data – all available data without sampling – the improved software produces even more accurate results. Business processes such as customer credit scoring, inventory optimisation and real-time risk management will benefit from increased precision.

Whether delivering real-time customer insights, predicting failures or monitoring fraud, SAS now offers:

  • Greater scalability – new components can analyse even greater amounts of data.
  • Higher performance – enhanced high-performance computing offers faster delivery of results for decisions.
  • Increased productivity – new capabilities streamline analysis so users can potentially tackle additional projects.
  • Broader enablement – new features incorporate nontraditional data sources and formats into analyses and workflows allowing users to collaborate and interact on analytical projects.

The upgrade includes enhancements to the following SAS product suites: SAS Predictive Analytics and Data Mining Suite, to uncover unknown patterns, opportunities and insights; SAS Data Management, to empower organisations with consistent, accurate and timely data; SAS Text Analytics, to maximise information buried within large text collections; and SAS Forecasting, to understand the likely range of future behaviour to improve planning.

BETTER ANALYTICS FOR BETTER RESULTS

Investment in SAS delivers value from new business opportunities, increased customer knowledge, more efficient operation and greater profitability.

Addressing the next generation of business problems, SAS’s expanded analytics portfolio will have a profound impact on the way businesses make decisions. Among the new capabilities:

  • Enhancements to SAS Forecasting provide improved results through simulation environments and scenarios, which can optimise inventory management for manufacturers or retailers.
  • New security and data integrity features in SAS Data Management help the healthcare industry’s meet mandates for patient information privacy and protect against unwanted disclosures.
  • A new rate making capability in SAS Enterprise Miner helps insurers determine the optimal premium for individuals based on an applicant’s known attributes, ultimately driving profitability as rising claim expenses increase the need to identify the appropriate rate.
  • SAS’ newly expanded arsenal of predictive modelling algorithms can help governments counter declining tax revenue by increasing efficiencies in tax collection, combating fraud and maximising public services for their citizens.
  • Improved SAS analytic performance helps all enterprises. One SAS customer, a global financial services organisation, reduced from 96 hours to four hours the time to model the probability of default, a risk calculation that needs to consider both different repayment assumptions as well as the unique life of each loan across 9.5 million mortgages.

Data volumes and variety are growing from social media, mobile, email, metering data, stock ticker data, financial transactions and more. SAS Data Management simplifies data asset use, regardless of how much data exists or how many data types are involved. Direct integration between SAS Data Management and SAS Analytics results in rich and timely analysis for optimal decision making. In addition, SAS provides a framework for integrating analytics directly within operational systems to further speed decision making.

Related content

WEBINAR

Recorded Webinar: How to run effective client onboarding and KYC processes

Increasing cost, complexity and regulatory change continue to challenge firms implementing client onboarding and Know Your Customer (KYC) systems. With an effective strategy and a clearly defined pathway, it’s possible to gain a valuable competitive advantage whilst meeting those all-important compliance requirements. But how to get there? With a myriad of different options out there...

BLOG

Are You Ready for the RegTech Summit Virtual 2020?

Hope might be in sight with the advent of an effective new vaccine, but the global pandemic has changed the way we work forever, and it is becoming increasingly clear that the business environment will be irrevocably changed by the 2020 experience. Remote engagement has become more important than ever, and agility and versatility have...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...