Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
June 3, 2014
Hitachi to Support Financial Services Marketing and Channel Strategies Solutions and
Resell RapidMiner's Advanced Analytics Platform
Boston, Mass., U.S.A and Tokyo, Japan, June 3, 2014 --- Hitachi, Ltd.(TSE: 6501) and RapidMiner today announced a strategic partnership focused on providing financial service institutions with predictive analytics solutions designed specifically to address marketing and channel challenges. The partnership combines RapidMiner's advanced analytics expertise, especially in predictive analysis, with Hitachi's experience in systems integration for the Japanese financial industry. Hitachi will also resell RapidMiner products.
Hitachi and RapidMiner are collaborating on technical and marketing activities. A joint pilot project focused on fraud reduction was initiated in May 2014.
With the increased usage of mobile devices, and the pervasive reach of social networking, financial service institutions have more opportunities to collect and utilize a great variety of data from both internal and external sources. In this big data era, Japanese financial service institutions are more focused on data analytics in order to deliver increased customer value.
RapidMiner offers highly scalable predictive analytics applications, including operational dashboards, metrics and performance reports in a single, easy-to-use platform that seamlessly integrates with popular enterprise data sources. RapidMiner's predictive analytics software is helping companies across multiple industries in areas where advanced analytics can make a significant impact, such as churn reduction, fraud detection, predictive maintenance, sentiment analysis and more.
Highly sophisticated solutions are necessary to enable financial service institutions to analyze data on a real-time basis from multiple viewpoints to ensure the capabilities such as:
The result of the partnership will be a key component in Hitachi's Innovative Analytics business initiative and help extend RapidMiner's global reach.
"Our customers are looking for a way to leverage the next generation of analytics in order to grow their businesses through a more customer-centric approach," said Tsugio Yamamoto, president of financial information systems division. "A flexible platform like RapidMiner can address a wide variety of needs in the financial industry and help our customers to achieve their business goals."
"Hitachi and RapidMiner have partnered to become the premier trusted providers of predictive analytics for the financial services industry," said Ingo Mierswa, co-founder and CEO for RapidMiner. "Together we deliver best-in-breed analytics solutions that support corporate success."
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, health care and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Pioneering predictive analytics leader RapidMiner is redefining how business analysts use all kinds of data, including big data, to predict the future. With an open source heritage, RapidMiner is one of today's most widely known and used analytics platforms, providing powerful solutions for a wide variety of industries. For more information, visit www.rapidminer.com.
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