CIO Review >> Magazine >> October - 2013 issue

NextGen Invent Corp: Technology And Big Data Analytics As Service

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Thursday, October 3, 2013

Benita Matilda The volume of data generated today is overpowering the enterprises' capacity to analyze and derive valuable insights. Additionally, traditional analytics tools require extensive IT and data analyst efforts to perform unstructured data analytics. These tools can provide insights about past, but what about the future?

NextGen Invent, founded by Deepak Mittal in 2005, has come up with an effective solution for this dilemma. Its Big Data Analytics framework, Pure Analyzer, utilizes corporate Big Data (structured & unstructured data) and social media data along with its powerful machine learning algorithms to provide actionable insights. NextGen's Big Data Analytics as a Service (BDAS) has solutions for enterprises across different verticals.

The avalanche of information that appears every day in emails, CRM data, application logs, transactions, Twitter, Facebook and YouTube is vital for marketing managers. However, it is impossible for a single person or even a team of experts to read and analyze it. NextGen’s technology services provide a way to measure this, including measuring the impact of client’s social media marketing, along with insights into the outcome of strategic actions. NextGen’s team architects and implements a customized IT roadmap with solutions that provide insights into customer behavior, sales trends, and the ability to streamline the product fulfillment process.

NextGen’s technology, a unique integrated software package, consists of several components including Big Data Analyzer, Social Media Analyzer, Text Analyzer and Trend Analyzer along with 70+ machine-learning algorithms, which enables the company to create predictive models that focus on specific business outcomes.
These solutions are helping NextGen to get traction in different verticals. Legal departments of large organizations are starting to employ NextGen's services and expertise in predictive analytics to protect themselves from recurring law suits. The company is strongly positioned in healthcare industry and provides services ranging from optimal patient selection to introducing new drugs in the market.

The illustrious clientele of NextGen includes Hagen, Streiff, Newton&Oshiro Accountants (HSNO) who have major insurance companies as their clients. One such insurance company made use of BDAS when one of the Fortune 100 companies filed a business interruption loss claim because of Sandy storm impacting its network towers. NextGen’s solution gathered social and market data and analyzed the impact on customer service and network tower unavailability. They completed the project within a compressed time frame and helped the insurance company save millions. Another company, Aileron Solutions engaged NextGen to help realize the vision of gaining insights from healthcare claims that could enable pharmaceutical companies to increase sales of their drugs. The company has also been working with Columbia University to analyze market and social trends to recommend public policy changes.

NextGen believes that despite the widespread reliance on business analytics, companies still face a steep learning curve in using and benefiting from Big Data analytics. Therefore, the company is seeking to build productive go-to-market partnerships with specialized firms in the Financial Services, Healthcare, Pharmaceutical, Federal & State Government, Retail, Legal, Energy, Telecommunications and Transportation industries that can effectively leverage their expertise and technology to jointly expand the global market presence.