Verdande Technology and Nastel Technologies have teamed up to combine their case-based reasoning (CBR) and application performance monitoring (APM) solutions, respectively, to provide financial services organisations with predictive analytics to reduce system outages and to remain compliant with regulatory reporting.
CBR allows for an adaptive “human” approach to problem solving that analyses data patterns in real-time while using past events to predict problems and suggest a course of action. Verdande’s solution is based on the principle that similar problems have similar solutions. By harvesting massive data sets, the solution identifies impacting events and remedial approaches from past events to provide a realistic assessment as to whether a similar scenario is likely to happen in the future.
With the partnership, Verdande’s CBR platform takes data from Nastel’s AutoPilot solution, and provides real-time actionable intelligence to prevent business-impacting issues before they occur. Verdande and Nastel worked with a major investment bank to create an early warning system for potential problems. The Bank required an operational support tool that could help increase the value of its “Run the Bank” (RTB) team, which was spending too much time investigating false alarms. The Bank needed a reliable system to map events within its IT infrastructure to previously recorded experiences and map those cases to recorded solutions.