Earlier this year, Alternet Systems, Inc. (OTCQB: ALYI)
launched its Data Analytics Division. At that time, Henryk Dabrowski, CEO of
Alternet Systems, stated, “Alternet has a successful history of developing and
commercializing young digital commerce technologies. We are now building upon
that history to develop and commercialize an expanded portfolio of new key
technologies in the burgeoning big data analytics sector. We quietly started
the expansion last year after the successful sale of our mobile wallet
solution. We anticipate our new Data Analytics Division to build upon the
revenue base we established in 2015 from our digital commerce operations
throughout the course of 2016.”
Big Data, or data analytics, refers to the growing practice
of using the data from all available sources, which can come in a variety of
formats, to uncover individual and group behavior. A report
(http://dtn.fm/Y7Rl1) published by the Economist Intelligence Unit (EIU) gives
details on a global survey of over 300 executives from companies with over
US$500 million in annual revenue (with half of them reporting US$1bn or more)
on their data analytics practices. The survey found that companies are moving
beyond first-generation big data applications based on internal assets and are
reporting considerable success with innovative market-facing initiatives that
use a wide range of transactional and external data. Competitor-focused
initiatives are given the highest priority, with customer- and
operations-focused measures comprising a significant number of initiatives.
The survey also found that the biggest technical challenge
was the need to identify and integrate multiple data types from both internal
and external sources. When it comes to internal challenges within an
enterprise, data and analytics silos stand out, largely because market-facing
advanced analytics initiatives tend to be driven by individual lines of
business. A data silo is a separate database or set of data files. Despite
these challenges, executives overwhelmingly rate these advanced analytics
initiatives as successful and point to multiple simultaneous benefits. This
broad success is driving continued innovation and experimentation, with
technical challenges seen as minor obstacles compared with the need to select
the right initiative and the right team.
In the early days of data analytics, companies mostly
focused on internal initiatives, such as operating efficiencies, but with
increased computational power and new data sources, they are experimenting with
‘offensive moves’. Proactive price optimization stands out as the most common
market-facing data analytics initiative.
A full research report (http://dtn.fm/ue9AC) on Alternet
Systems by Caprock Research, commissioned by Wall Street Corner, published
February 2, 2016, estimates the data analytics market at $125 billion in 2015.
The ‘analytics-as-a-service’ segment of this market is expected to grow from
$4.2 billion in 2015, by a compound annual growth rate (CAGR) of 40 percent, to
$23 billion in 2020.
Alternet Systems is on a mission to provide innovative
solutions that facilitate and expedite commerce by enhancing customer
experience and improving efficiency. Data analytics is just one of three
high-growth markets in which the company plans to invest. The two others are
financial technology and payment technology.
For more information, visit www.alternetsystems.com
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