Teradata announces RACE – Rapid Analytic Consulting Engagement which is sought to be an agile, technology agnostic methodology leveraging client insight into the potential business value of analytic solutions before an investment is made.
At its core, the Teradata RACE service leverages Teradata Business Value Frameworks–intellectual property gleaned from the company’s unparalleled experience with thousands of successful client engagements.
The resulting frameworks are tailored by industry and/or business function, and act as a value accelerator–identifying the most relevant and valuable analytic solutions to help clients achieve faster time-to-value from analytic and data investments, while reducing risks associated with complex analytic initiatives.
The RACE method involves three primary phases:
- Align – Using the Business Value Framework as a starting point, Teradata analytic business consultants assist the client in identifying and aligning around the highest potential value uses cases, and validate the availability of key data assets to support the use case.
- Create – Teradata data scientists load and prepare the data, and develop new or existing analytic models for the selected use cases. This phase involves rapid iterations with the business sponsors to ensure the analytic insights will produce the targeted business outcomes.
- Evaluate – Teradata analytic business consultants analyze the results and document the potential ROI of deploying the analytic use cases at scale, and develop a deployment plan for the client.
Key factors such as the inflow of new data sources, including IoT sensor data, as well as the proliferation of new analytic techniques, complicate the deployment and use of analytic solutions by business users.
Armed with detailed visibility from the applicable Teradata Business Value Framework, RACE clients will begin projects with a clear roadmap about when and how the project will deliver a return on their investment.
“When companies use analytic consultants, they expect experience-based insights about what works, and what does not. Teradata consultants understand this and use proven tactics to routinely drive accelerated, high-impact business outcomes for our clients,” said Dan Harrington, EVP, Consulting and Support Services, Teradata Corporation. “Along with our unique consultative perspective, Teradata can also leverage its deep technical capabilities to architect, implement and manage innovative analytic ecosystems. This end-to-end program execution – something Teradata alone can deliver – makes life simpler for our clients and significantly reduces their risk.”
“RACE provides an incredible, never-before-seen outcome and benefit for enterprise customers who are seeking to understand the exact value to their investments into data analytics. With frameworks tailored by industry and business function, Teradata has ensured that for the first time, organizational teams will be able to ascertain impact on bottom-lines with a high degree of accuracy and predictability and work towards outcome based projects. For CIOs, this becomes a valuable tool that reduces the gap between perceived and actual gains to be had thereby reducing risks associated with complex analytic initiatives. With the RACE methodology Big data and analytics now becomes even more strategically aligned to business objectives and this will be a huge impetus for its adoption in Indian organizations’, said Sunil Jose, Managing Director, Teradata India.
Teradata Business Value Frameworks provide a proven foundation for Teradata Consulting teams to help companies:
- Identify and prioritize the use cases that align with the company’s strategic imperatives and deliver measurable business impact;
- Define the detailed elements of each analytic use case, including business questions addressed, required data elements, proven analytic techniques, relevant key performance indicators and demonstrated improvement ranges; and
- Assess the maturity of existing analytic capabilities to identify sometimes-subtle gaps and recommend solutions to ensure that investments in analytic capabilities are directly aligned to strategic business imperatives.
Rapid Analytic Consulting Engagements (RACE) and Teradata’s Business Value Frameworks are available immediately.