Infosys has announced details of the Infosys Information Platform (IIP) that includes latest pre-packaged solutions from Infosys BPO and Infosys Finacle. IIP is an open source platform for big data analytics that empowers businesses to operationalize their data assets and discover new opportunities for swift innovation and progression.
IIP leverages the power of open source to address big data adoption challenges for enterprises like insufficient availability of easy-to-use development tools, a fragmented method to build data pipelines, and lack of enterprise-ready version of open source big data analytics platform that can support all types of data – structured, semi-structured and unstructured, the press release states.
At present, Infosys is working with several clients across various industry sectors like banking, insurance, retail, pharmaceutical, mining, and manufacturing.
Companies including Ricoh Americas Corporation, Syngenta and The Hershey Company adopted open source based platform.
Balaji Rangaswamy, CIO, Ricoh Americas Corporation, said “In today’s new world of work, big data analytics is playing a key role in helping companies make more solid business decisions and better understand their customers. It is enabling companies to increase revenues and reduce costs. Technology is bringing disparate systems together and using the data science to predict buying patterns and equip the sales force with the qualitative data they need to sell more effectively. The Infosys Information Platform is proving to be a great asset for Ricoh’s system strategy — bringing together our Social, Mobile, Analytics and Cloud technologies. We are beginning to see actionable results delivered at a rapid pace and are looking forward to what’s next in our predictive analytics journey together.”
Christian Bayer, Head of Data and Information, Syngenta said, “As part of the review of our reporting and analytics platform we asked Infosys to show us their capabilities in big data analytics and the ability to deliver a solution quickly. Within two weeks they built a proof of concept based on IIP, their state of the art data analytics platform. The platform is a competitive data analytics solution that Infosys made available quickly and relatively inexpensively. It could be used for any enterprise use case that needs to manage mass volume of data and complex calculations and transformations.”
Carlos E. Amesquita, Chief Information Officer, The Hershey Company said, “At heart, Hershey is a knowledge company. We want to put Consumer, Customer, Market, and Industry understanding at the center of all our decisions. Infosys, our strategic partner, recently shared with us their new Infosys Information Platform (IIP). I am quite impressed with this new capability and especially the speed it offers to organizations like ours, to ingest diverse data sets, and harmonize and link them together to derive insights. We are excited to be engaged with Infosys using IIP to further build our capability to turn diverse data into knowledge and insights.”
Infosys is functioning with clients on a variety of scenarios:
- Trade data analysis and regulatory reporting in real-time for a financial major, which has resulted in approx.18X progress in the speed of report generation.
- Better service levels for an important ATM manufacturing and services company. IIP enabled 18% lessening in the cost of maintaining ATMs, approx.15% enhancement in productivity of service experts.
- Predictive maintenance to check network errors for a telecom major. As an outcome, curative actions could be planned 1week in early.
- Enhanced price to performance for analytics on very large data volumes for a retail banking major. The bank’s annual transaction logs for 530 million credit card accounts were managed in approx.11 min.
- Customer churn prediction for top automation major. The solution made analytical analysis to support engagement strategies, and facilitated the client improve retention rates. 66 million customer records can be processed to make these predictions within 6min.
- Optimization of working capital for a mining major that recognised US$ 27 million attributed to early invoicing by vendors.
- Telematics-based prediction model for an insurance major, which has resulted in approx. 100X development in execution times for segmentation models and 8X development in model generation times.
It’s worth mentioning that, IIP is a crucial part of the Infosys strategy to assist clients renews existing landscapes and fetch new innovation to clients that empower them to grow and transform. IIP is used by Infosys Finacle and BPO to provide new capabilities to the clients.
Infosys Finacle is using IIP to power its customer analytics solution for financial institutions. The solution allows banks to build insights across business processes like non-profitable asset analysis, customer churn and profitability analysis. This also empowers them to optimize their customer engagement and management strategies in order to provide a differentiated service experience.
While, Infosys BPO is using IIP to power its ‘Forecasting As A Service’ offering. This service allows enterprises to recognize working capital development prospects and improving customer experience in supply chain and fulfilment processes and business predicting.
Vishal Sikka, CEO and MD, Infosys said, “Open source enables us to deliver an enterprise class data platform to our clients and their end-users in entirely new ways – from security to quality to customization to flexibility. We are the first IT services company to leverage open source in this way, bringing the value-added applications like predictive maintenance, regulatory reporting, planning and forecasting on top. With IIP, we are bringing a unique experience to our clients in their efforts to manage, understand and act on data – and in the true spirit of open source, we will share these enhancements and contribute them back to the open source community to help promote and advance both the reach and the speed of data driven innovation in the enterprise.”
Abdul Razack, Head of Platforms, Infosys, said “Data is at the heart of every enterprise and the Infosys Information Platform enables companies to derive insights from large and diverse data sets. IIP uses open source technologies and runs on commodity hardware to provide a cost-effective solution for enterprises to manage data and leverage innovations seamlessly.”
IIP Capabilities Include:
- Decreases total costs by using an open-source technology stack running on commodity hardware, and provides improved price to performance, with its use of in-memory processing
- Features a scalable and elastic hardware setup with several deployment choices like on premise, public and private clouds
- Comprises out-of-box components and tooling critical for enterprise usage, including features like one-click deployment, version management, security, governance and multiple data adapters to decrease time-to-insights
- Offers access to real-time and batch data processing, structured, semi-structured, or unstructured data analytics, and in-built components for data ingestion and making of multi-step data pipelines
- Features a data science workbench that supports self-service exploratory analysis and out-of-box integration with open-source projects, and also third-party BI tools.
Infosys will share more details about IIP at confluence event in San Francisco.