Alexander Ladd, CEOBig Data analytics is a cardinal driver of business success across sectors today. However, irrespective of the avalanche of Big Data technologies and business intelligence (BI) tools, organizations are facing hurdles while mining detailed data for rigorous financial and operational analysis that can greatly impact business forecasts. “With the great deal of information within operational data stores, often Enterprise Project Management (EPM) is not able to tap the relevant information,” delineates Alexander Ladd, CEO, MindStream Analytics. “Data scientists must ensure that the integration of dispersed information should yield results for businesses to thrive. To accomplish that, data analytics should be completely optimized, when in reality they are not completely put into use.” Bridging this gap is MindStream Analytics that specializes in the implementation and optimization of business analysis and financial system solutions across enterprise performance management, data management, and BI.
The major challenge today is in identifying the most befitting solution among the dearth of platforms that helps tap rich data through due reporting and by involving various old and new technologies that can bring silos of information together. Headquartered at Boston, the firm has tight integration with Oracle and implements Oracle solutions to run the world’s demanding analytic needs.
Foreseeing the tremendous scope for deeper analytics, where data could be looked from a granular level, Ladd founded MindStream Analytics. The company possesses deep understanding of multidimensional modeling that can help the clients gain valuable insight on complex financial and operational data sets.
The firm also offers a consultative insight to the customers on Oracle’s offerings that include Master Data Management (MDM) and governance leveraging Oracle Data Relationship Manager (DRM) and Data Relationship Governance (DRG). “We are able to bring strong technical expertise in the tool set that Oracle leverages in data analytics,” adds Ladd.
We are able to bring strong technical expertise in the tool set that Oracle leverages in data analytics
Some of the different ways to unlock the potential value of all data dispersed in different systems is by leveraging the power of master data. MindStream performs this role by implementing DRM and DRG solutions into their customers systems. “By implementing the Oracle solutions, we oversee that every operational system and every subsystem is using the same set of master data cues,” confides Ladd. Further, the subsystems and all the other systems relate to each other, allowing master data integration to serve as blueprint of the overall data sets. MindStream can then accommodate the data and put things together in the data warehouse, making data compilation more of a flexible and analytical model. This paves a way for more analytical answers since all the data is integrated.
A multitude of companies, have benefited immensely using MindStream’s solutions into their environment. In one instance, MindStream enabled analytic environment for business reporting into WindStream Communications, an acquisitions firm. The customer was facing persistent problem in their financial reporting and analysis which led them to invest too many hours in getting the processes cleared. MindStream implemented data mapping into WindStream’s financial data quality tool and enhanced their financial data management application. This led to the considerable reduction in their work hours.
The market foothold of MindStream Analytics adds credence to the unique capabilities of their solutions and prowess in enhancing data analytics for their clients. Moving forward, Ladd believes that there is great scope in cloud and envisions having a “data science park.” “Customers can call us with queries on data analytics and we will provide the required help and the requisite insights,” concludes Ladd.