Teradata, a division of NCR Corporation, announced two new enhancements to its Teradata data mining solution, Teradata Data Mining Warehouse solution and Teradata Business Analytic Templates.
The introduction of new capabilities makes data mining more accessible to business users than ever before. Businesses can use data mining to gain a competitive advantage by advancing beyond describing what customers did last quarter to predicting future behavior.
“As Teradata was the first to enable the consolidation of data marts into an enterprise data warehouse and the first to deliver in-database data mining, we are now the first and only vendor to enable businesses to consolidate analytic data marts into a central data mining warehouse,” said Vickie Farrell, vice president of Teradata warehouse marketing. “Regardless of the vendor platform or IT architecture, which may include federated,’ centralized’ or hub and spoke,’ the Teradata Data Mining Warehouse solution offer is complementary to any data warehouse implementation without disrupting the existing business intelligence environment.”
The Teradata Data Mining Warehouse solution is a separate, high-powered analytic warehouse that streamlines the data mining process. Data is centralized in the analytic warehouse to create a consistent, up-to-date, single view of the business. Leveraging the inherent, parallel processing muscle of the Teradata Database and combining it with Teradata Warehouse Miner’s in-database mining capability, it is possible to mine large volumes of data with significantly improved accuracy and speed.
“The Teradata Data Mining Warehouse solution effectively combines the steps required to build an analytic data mining model within a single, cost- effective, manageable platform for data miners and business analysts,” says Bill Inmon, general partner, Inmon Associates. “Based on my corporate information factory’ concept, this is the ultimate integration of the exploration warehouse with the data mining warehouse to create an information architecture that works together to meet real business needs.”
Businesses with a Teradata enterprise data warehouse are able to benefit from data mining done directly in their centralized data warehouse. The new Teradata Data Mining Warehouse solution has been designed to make data mining more accessible for those businesses that have not yet moved to a central, enterprise data warehouse architecture.
Many non-Teradata users who aspire to run analytics on enterprise-wide data find it difficult, if not impossible, because integrated data is not available to run complex, exploratory queries on large volumes of detail data. Because of the business value, running analytics is essential. Only in a single integrated warehouse can businesses run a high-performance, exhaustive review of all data, not just a sample that may offer misleading clues to customer behavior.
By consolidating data from across the enterprise into a powerful, central analytic warehouse, Teradata delivers advanced business intelligence with significant cost savings. It provides businesses with unbridled ability to query the warehouse with unstructured queries or queries-on-the-fly that other architectures are unable to accommodate. Large volumes of data can be pulled from virtually any existing warehouses or repositories like billing, inventory, product orders and customer records into the data mining warehouse.
The Teradata Data Mining Warehouse solution enables businesses to move beyond the reporting and online analytic processing phase of data warehousing into the high-value data exploration and data mining, which is the foundation for strategy development and business differentiation. It is also effective for those businesses that already have data mining capability, but need help to extend or regain their competitive strength against feisty competitors.
The Teradata Data Mining Warehouse solution includes hardware, Teradata Database, Teradata tools and utilities, Teradata Warehouse Miner, and Data Mining Professional Services consulting. The Teradata Professional Services consulting team’s expertise has evolved from scores of data mining engagements, and continues to be further refined and improved. They are dedicated to enabling businesses to understand and use data mining to achieve tangible results, regardless of their level of expertise.
The second new data mining enhancement, Teradata Business Analytic Templates, provides businesses with data mining models that solve critical business problems. The three new templates, the first of many to come, save time and money in development costs and help businesses to get data mining up and running more quickly. The foundation for the templates is the Teradata Logical Data Model, a predesigned blueprint that organizes customer and business data required for data mining. It provides an advanced starting point, helping businesses to deploy data mining solutions more quickly.
“Teradata has captured best practices from our data mining engagements and incorporated them into these templates for quick, reliable, cost-effective analytic capability. By using these templates, businesses can get results within a few days, savings months of development time,” says Mike Rote, director of data mining for Teradata.
The Price Elasticity template helps determine the optimal price to maximize demand and sales for the retail and manufacturing industries. Financial institutions can use the Product Cross-Sell and Up-Sell template to predict the next financial service that a customer is most likely to buy. The Customer Attrition template for financial institutions identifies customer behavior that leads to attrition and enables action to be taken before the customer leaves.
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