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News : Westpac Taps into New Big Data Streams for Customer Delivery
Oct 14, 2014 -- Westpac has partnered with data and analytics platform provider, Teradata, to tap into a new seam of big data within the organisation and further its customer engagement strategy.
Westpac is investing in Teradata’s Unified Data Architecture and Aster Discovery Platform technology to uncover patterns in very large datasets the vendor claims haven’t been possible using the banking group’s existing data analytics capabilities. The insights are being used to better Westpac’s personalised offers and services to customers.
The deal also sees Westpac developing new insights to reduce loss and fraud. The objective is to engage different parts of the organisation to draw on new analytics technology and data sources.
"Working alongside the Teradata team, we created a vision of the outcomes, quickly proved them and by engaging IT, defined the processes and architecture to ensure the technology swiftly delivered on the business promise," said Rachel Rohlach, Westpac’s executive manager of CRM capability, CRM&D for AFS Strategic Marketing.
"We have been able to combine these new data sources with our existing ones and test new technology, such as Hadoop."
Teradata has been ramping up its big data analytics offering in recent years, and acquired the assets of Revelytix and Hadapt earlier this year in a bid to broaden its Hadoop big data processing capabilities.
Earlier this week, the company announced an expanded partnership with enterprise data analytics management vendor, Cloudera, around technology integration and alignment, as well as a unified approach to go-to-market, sales and support under its Unified Data Architecture. Under the agreement, Teradata can also resell Cloudera's Enterprise Basic, Flex and Data Hub editions.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Understand Your Business
More Editorial From Westpac Banking Corporation
About Westpac Banking Corporation:
Westpac, is a multinational Financial services company and became the largest bank in Australia (by market capitalisation) after it took over St George, and the second-largest bank in New Zealand.
Teradata Corporation is an American computer company that sells analytic data platforms, applications and related services. Its products are meant to consolidate data from different sources and make the data available for analysis.
Published: Wednesday, October 15, 2014