From the Wires
Kognitio Inks Deal With Fortune 5 Company, Delivering Big Data Analytic Power Via Kognitio Cloud
Company to use cloud-based Big Data analytics to better understand customer behavior, streamline supply chain cycles; deal builds on Kognitio corporate momentum
By: PR Newswire
Nov. 5, 2012 08:31 AM
NEW YORK, Nov. 5, 2012 /PRNewswire/ -- Kognitio, driving the convergence of in-memory analytics, Big Data and cloud computing, today announced that it has signed an agreement with one of the world's largest companies to provide on-demand data analysis through its Kognitio Cloud platform.
The company, a Fortune Five firm, will use Kognitio to monitor and understand its customers' online behavior. Through the use of in-memory analytics, the Kognitio Analytical Platform will help drive more efficient and effective marketing to protect and grow sales revenues, thus providing better service to customers. Since Kognitio Cloud is implemented through Amazon Web Services (AWS), the company will also be able to easily scale its infrastructure on an as-needed basis at a fraction of the cost of more traditional business intelligence implementations.
"We regard this as one of the most strategic customer wins we have ever achieved," said Steve Millard, Kognitio president and chief executive officer. "Moreover, it delivers tangible proof of the corporate momentum that we have built over the last 18 months, with more companies realizing the value of Big Data analytics." Millard noted that in the second quarter of its fiscal year, Kognitio reported a 27 percent increase in year-over-year revenue, with a 42 percent quarter-over-quarter increase. The company also exceeded its new revenue and order targets, delivering the highest number of new orders in years. Kognitio Cloud, he said, is a key component in the company's meteoric sales growth.
Kognitio Cloud-powered deep analytics into customer buying patterns, at granular levels, will allow the company to reach deep into its supply chain, optimizing just-in-time delivery cycles. Millard added that this is intended to deliver a revolutionary advancement in supply-side efficiency, predicated on fact-based, demand-side decision-making. This, he said, is a revolution rooted in Big Data, and powered by Kognitio.
Details of the agreement between Kognitio and the Fortune Five firm were not disclosed.
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