June 07, 2012 // By: Heather McIlvaine
Technology for Big Data
Oversight Systems is not the kind of company to let a new trend in the IT industry pass by unexamined. When SAP first started talking about a new in-memory platform, Oversight saw an opportunity to bring real, real-time analytic capabilities to the continuous analysis (CA) space and jumped on it. The company became one of the first SAP partners to develop on the SAP HANA platform. Similarly, Oversight has closely followed developments in the world of big data. And now, with the release of its new SuperMapper technology, Oversight has officially integrated big data analysis into its CA software.
As Oversight CEO Patrick Taylor describes it, there is a spectrum of big data analysis. On one end, organizations are analyzing enormous data sets to make long-term, planning-oriented decisions. For these types of analyses, you will necessarily be looking to identify larger trends. On the other end of the spectrum, organizations are using big data analysis to make day-to-day, operational decisions. Oversight falls at this end of spectrum. Its CA software analyzes huge amounts of transactional, ERP data to spot anomalies and inconsistencies on the level of individual events. These findings might be used in the procurement space to identify a savings opportunity. Or they could be used to detect unauthorized user behavior and internal fraud. SuperMapper essentially supercharges these analyses to include unstructured data.
By integrating the analysis of unstructured data into its CA applications, Oversight is enabling its customers to make smarter decisions based on larger and even more complex data sets. In procurement, for example, Oversight customers use the Assured Best Pricing application to identify opportunities for better purchasing decisions in real time. In the past, they would simply analyze structured data from their ERP system, such as purchase history and inventory data. Now, with SuperMapper technology, the application allows purchasing managers to also analyze unstructured data. This could be from internal sources, such as email conversations with vendors, or from the broader Web, such as discussions in blogs and social media about price trends and product availability.
In the next months and years, Taylor says, Oversight will continue to augment its analytic applications with SuperMapper technology for big data analysis. This could range from revenue generation applications, where companies would be able to gain new insights from the analysis of customer email communications, to fraud detection, where they could analyze related news articles on the Web. “In a sense, we’re simply adding another data source,” says Taylor. “But it’s actually really decisive, because more information means more insights. And that leads to better decisions.”
The new SuperMapper technology is available now as part of every Oversight Systems Continuous Analysis solution. Existing customers will start receiving the benefits as part of their regular upgrade cycle.