Absolutdata and Third Eye Consulting Create Big Value from Big Data Using Google Cloud Platform
In the era of big data, many business leaders are struggling with the sheer volume of data available and how to best leverage its potential. Typically, enterprises discover what data is available and then apply it to the question or problem at hand. According to Absolutdata, a leading data analytics firm, this insight delivery model is ineffective, returning only fifty cents on the dollar of big data investments.
It has answered this shortfall with a new analytics model called “Decision Engineering.” The underlying concept is to first identify specific decisions an enterprise must make, then work backward to use data and analytics to optimize every aspect of the project. In lead conversion, for example, the enterprise would use data and analytics not only to identify consumers, but also to optimize, in real time, the channels, marketing messages and even product features that influence purchase decisions.
“Decision Engineering ensures that the decision makers are provided potential decision options rather than just insights,” explained Anil Kaul, Absolutdata’s CEO.
To drive the Decision Engineering model, Absolutdata needed to identify the appropriate conversion-optimization platform, specifically one that would help Software-as-a-Service (SaaS) companies convert free users into paid subscribers. The platform had to be capable of using analytical algorithms, developed as dovetailed MapReduce programs, which allow enterprise users to leverage insights from various decision metrics. Also, the platform had to feature a reliable infrastructure that provided enough speed to manage the various MapReduce computations while also scaling easily to meet fluctuating business demand.
Third Eye Consulting selected Google Cloud Platform and its Compute Engine, BigQuery, Cloud Datastore, and Cloud Dataflow tools as the ideal infrastructure to support the demands of the NAVIK Converter.
“Google Cloud Platform provided the NAVIK Converter with several advantages over competing cloud platforms,” said Dj Das, Founder & CEO, Third Eye Consulting Services. Among the advantages he cited:
Google Cloud Platform nodes offer the best computational performance.
For satisfying business case demands, Google Cloud Platform has the fastest cluster spin-up and spin-down times.
To move gigabytes of data around quickly for MapReduce computations, Google Cloud Platform offers significantly more network bandwidth than its competitors can provide.
“Our clients want fast results,” added Kaul. “Combining Decision Engineering with the speed of Google Cloud Platform was an obvious choice for the NAVIK Converter.”
Before launching the NAVIK Converter, Absolutdata tested the product with two different SaaS companies. One, a cloud storage company, increased its free-to-paid conversion rate by 30%. The second, an online genealogy company, increased its bill through rate (BTR) on free trial signups by 5%.
“Absolutdata was able to launch a fully functional product at a very low per-month cost,” said Mr. Das. “They can deploy multiple clients on the current cluster instances and ensure rapid industry adoption. And due to the whole application being 100% cloud based, our time-to-market was dramatically low.”