Business analytics can help organizations use data to find insights
Datawatch has made news with its acquisition of Panopticon, a Swedish provider of business visualization and analytics for not only data but events and messages as well. Panopticon’s innovations in analytical discovery are not widely recognized yet but look forward to them getting recognition moving forward. Of the four types of analytical discovery I have described (data, visual, event and information), Panopticon addresses the first three and Datawatch the last though they already have experience with data. The combined company could simplify the portfolio of tools business people and analysts need to produce analytics and insights. Their capabilities enable users to go far beyond the reporting and dashboard approach of conventional business intelligence tools.
Panopticon has been steadily advancing its technology, developing interactive visual discovery of data in real time from many sources, including complex event processing, message queues and polling. Its tools also take data from relational databases and big data technologies like SAP HANA and blend it with proprietary sources to meet users’ specific strategic and operational needs. They use in-memory computing and analytics to process data and events on the fly, creating specialized time windows in which to analyze and visualize information. Panopticon Designer provides access to various sources of data that can be brought into its environment
Panopticon had made progress in customer deployments in North America, and that should increase as part of Datawatch and help expand it further globally. Panopticon’s approach has appealed to financial services companies and specific risk management needs. Our research into governance, risk and compliance finds large potential in new technology to identify and manage risks faster, which 79 percent of organizations are seeking and which Panopticon can supply. Advanced analytics that handle more information can more easily address risk and fraud issues than do older tools for reporting or monitoring.
Panopticon’s support of technology events that are flowing across
Datawatch is addressing my colleague’s view on the four pillars of big data analytics which is part of our research and helping organizations gain business value from big data. For Datawatch this step moves them to help organizations realize the full value of information optimization including from big data investments as I have pointed out that are essential for almost every organization. By acquiring Panopticon and integrating to Datawatch will introduce a new breed of technology to handle the broad spectrum of information for discovery (including the use of visualization) and to generate insights that will bring value to big data investments and business processes.