Building upon its success delivering solutions that operationalize predictive analytics for key vertical markets, such as banking, financial services, retail and healthcare, Symphony Teleca Corporation, a global innovation and development services company, today launched Symphony Analytics, to consolidate such solutions into a single brand. The new brand will combine the company’s proven platform and solutions, along with industry-specific expertise, to help enterprises rapidly implement and realize the benefits of Big Data predictive analytics.
Symphony Analytics is led by Senior Vice President and General Manager, Dr. Venkat Rajan. The group is headquartered in Dallas, Texas and consists of 1,000-plus people around the world.
“Symphony Teleca has been very successful developing solutions that leverage Big Data and predictive analytics to help companies make better business decisions,” said Sanjay Dhawan, President and CEO, Symphony Teleca. “We’ve formed Symphony Analytics to meet the growing market demand for new operationalized solutions that enable real-time and predictive analytics, which are integrated directly into a company’s business processes. While there are other companies that deliver predictive analytics solutions, there is a clear need for experts in markets, such as banking, financial services, retail and healthcare, who clearly understand their specific needs and who come equipped with the technology platforms and solutions to rapidly implement them. As a dedicated brand, Symphony Analytics will be able to fill this critical market need.”
“Leaders in every sector are realizing the benefits of Big Data analytics in helping them drive better business outcomes,” said Dave Rich, CEO, Revolution Analytics. “The strategic and timely use of Big Data has become a key requirement for competition and growth within every sector, and Symphony Analytics has the right technology and predictive analytics expertise to help its clients gain competitive advantage and increased profitability through Big Data analytics solutions.”
Market Opportunity for Predictive Analytics
According to IDC, the global market for Big Data technology and services is projected to expand at a compound annual growth rate of approximately 32 percent between 2012 and 2016. By 2016, revenue from the Big Data sector will approach $24 billion. In other research from Transparency Market Research, the global Big Data market was worth $6.3 billion in 2012 and is projected to expand to $48.3 billion by 2018.