Peter Drucker - the great Management Consultant, educator and author once said “You can’t manage what you don’t measure” and this statement rightly fits for today’s organizations scuffling with data deluge. Simply put, because of immense data pouring in from various sources, CIOs and business leaders are not able to measure the business value derived from the data and translate it into improved decision-making. Although there are several niche vendors who are equipped with right tools and architecture to help organizations manage their data effectively, they become apprehensive when it comes to organizing the data in the ways that can be easily searched, browsed, navigated and analyzed to trigger effective decision making. Addressing these concerns, Aureus Analytics, headquartered in Singapore has developed a Big Data Analytics platform, called ASAP or Aureus Statistical and Analytical Platform to create insights by gleaning data across the enterprise irrespective of the source and size. The three founders, Anurag Shah, Ashish Tanna and Nitin Purohit conceptualized the company in 2013 with an aim to bring in the power of analytics to resolve various data management predicaments and accelerate the process of decision-making. “ASAP brings power to the decision makers as well as practitioners by enabling analytics at the point of decision in a simple yet comprehensive manner.
It is complicated and expensive to combine both external and internal data wisely and concurrently putting it into use owing to data intrusion concerns. “If you don’t use it wisely it can come back to haunt you and that’s giving severe headaches to the CIOs”, says Anurag, CEO& Co-Founder, Aureus Analytics. ASAP helps in bringing data aggregation, quality, and analysis and visualization capabilities on the same platform, thus eliminating the need for multiple tools. In addition, Aureus comes equipped with deep domain skills, big data capabilities, data sciences and analytics expertise which helps them build holistic solutions to business specific challenges.
Determined to transform the way analytics solutions are implemented, Aureus and its team of data scientists and engineers make sure that the customer understands the value of data and engages in extensive research to ensure that the value of big data is visible to its clients with a short period of time. “This élan approach with high visibility significantly reduces the turnaround time for decision making”, adds Anurag. The company is adept at bringing usable analytics directly to the business users, at the point of decision, when they need it. Aureus’s suite of business challenge specific products such as AUPERA for Persistency Analytics , AUCUA for Customer Analytics and Customer 360 for a comprehensive insight into customer behavior, are already helping many banks and insurers.
As per a BCG-Google report on Insurance, the growth of Google search queries related to Insurance has grown 6 fold for Motor, 4.5 fold for both Health and Life Insurance. With such humongous figures of growth, big data analytics will play a revolutionary role in the insurance market. Sensing this rising impact of big data analytics across various industries, Aureus has taken a step further to boost efficiencies across Insurance and Banking sector with big data analytics capabilities to enable right decision-making. Moving ahead, the company wants to collaborate with various banking and insurance players and work relentlessly towards driving a culture of data driven decision-making.