26th Annual InformationWeek Selects LexisNexis Risk Solutions for Elite 100, Lauds Exploratory Data Analysis (EDA) Innovations
ATLANTA (April 3, 2014) LexisNexis® Risk Solutions today announced it has been ranked 97 on the InformationWeek Elite 100 (formerly the InformationWeek 500), an invitation-only assessment of a selective group of the nation’s most innovative users of business technology. The annual list was revealed yesterday on the InformationWeek Elite 100 website, www.informationweek.com.
Among its newest innovation and criteria for the awards, LexisNexis developed self-service exploratory data analysis (EDA) capabilities for data scientists and statisticians to analyze large volumes of data and identify attributes from a dataset that would be relevant in building a statistical model.
“This is truly innovative because there was no solution in the market, EDA on large datasets is a very new field, and traditional solutions do not scale well with large datasets,” explained Vijay Raghavan, EVP and CTO, LexisNexis. “At LexisNexis, multiple datasets in terabyte sizes are the norm. Our HPCC Systems platform with its unique big data processing power provides the best foundation to leverage the EDA capabilities.”
Models are important to LexisNexis customers such as home insurers, who have only had three years of profitability in the last 20, as they review attributes such as location and weather – flooding, hail and straight line winds – to determine the risk of a property based on its location.
With built-in big data EDA capabilities in an easy-to-use toolset and an intuitive, visual drag and drop interface, data scientists and statistical modelers can perform complex analytics and analysis without needing to learn a new language or write code, while at the same time utilizing the entire data set and not just a sampling.
HPCC Systems, an open source, enterprise-proven Big Data analytics platform, grew out of the need for LexisNexis Risk Solutions to manage, sort, link, join, and analyze billions of records in hours rather than months, with the ability to run queries against these records with sub-second response time. HPCC Systems has evolved for more than a decade, supporting enterprise customers who need to process large volumes of data in critical 24/7 environments.
About LexisNexis Risk Solutions®
LexisNexis Risk Solutions (www.lexisnexis.com/risk) is a leader in providing essential information that helps customers across all industries and government assess, predict and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a world leading provider of professional information solutions.
About HPCC Systems®
HPCC Systems® (www.hpccsystems.com) from LexisNexis® Risk Solutions offers a proven, data-intensive supercomputing platform, designed for the enterprise, to process and solve Big Data analytical problems. As an alternative to legacy technology, HPCC Systems offers a consistent data-centric programming language, two processing platforms and a single, complete end-to-end architecture for efficient processing. Read our blog (http://hpccsystems.com/blog), or connect with us on Twitter (@hpccsystems), Facebook (https://www.facebook.com/hpccsystems) and LinkedIn (http://www.linkedin.com/company/hpcc-systems)
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