OREANDA-NEWS. Hitachi, Ltd. and RapidMiner 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:
* Detection and prevention of fraud on a real-time basis and the creation of alerts
* Timely and appropriate one-to-one messaging based on past customer transactions and/or behaviors
* Customer interaction optimization -- inviting appropriate customers to appropriate channels to improve customer engagement and satisfaction through internal data analysis as well as social data monitoring
* Customer feedback and voice of the customer analysis to gain more customer satisfaction and prevent customer churn

The result of the partnership will be a key component in Hitachi's Innovative Analytics business initiative and help extend RapidMiner's global reach.