ATLANTA (April 3, 2014) LexisNexis® Risk Solutions today announced it has been ranked 97 on the InformationWeek Elite 100 (formerly the InformationWeek 500), an invitation-only assessment of a selective group of the nation’s most innovative users of business technology. The annual list was revealed yesterday on the InformationWeek Elite 100 website, www.informationweek.com.
Among its newest innovation and criteria for the awards, LexisNexis developed self-service exploratory data analysis (EDA) capabilities for data scientists and statisticians to analyze large volumes of data and identify attributes from a dataset that would be relevant in building a statistical model.
“This is truly innovative because there was no solution in the market, EDA on large datasets is a very new field, and traditional solutions do not scale well with large datasets,” explained Vijay Raghavan, EVP and CTO, LexisNexis. “At LexisNexis, multiple datasets in terabyte sizes are the norm. Our HPCC Systems platform with its unique big data processing power provides the best foundation to leverage the EDA capabilities.”
Models are important to LexisNexis customers such as home insurers, who have only had three years of profitability in the last 20, as they review attributes such as location and weather – flooding, hail and straight line winds – to determine the risk of a property based on its location.
With built-in big data EDA capabilities in an easy-to-use toolset and an intuitive, visual drag and drop interface, data scientists and statistical modelers can perform complex analytics and analysis without needing to learn a new language or write code, while at the same time utilizing the entire data set and not just a sampling.
HPCC Systems, an open source, enterprise-proven Big Data analytics platform, grew out of the need for LexisNexis Risk Solutions to manage, sort, link, join, and analyze billions of records in hours rather than months, with the ability to run queries against these records with sub-second response time. HPCC Systems has evolved for more than a decade, supporting enterprise customers who need to process large volumes of data in critical 24/7 environments.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX Group (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit www.risk.lexisnexis.com and www.relx.com.