Six Tools Put New Twist on Business Intelligence
Taken from www.enterpriseappstoday.com
HiQube’s Simulation Play
HiQube is another company taking the approach of tacking functionality onto business analytics. While Revolution focuses on the statistics angle, HiQube’s core competency is math-based simulation. It tackles problems like, “If these are our objectives, how do we get there?” To accomplish that, it utilizes what-if analyses and simulations.
Case in point: a utility that installed tens of thousands of smart meters at customer sites across its network. Instead of the meter being read manually once a month, the utility now has data coming in continually from every meter. This enables the utility to fine tune its pricing structure from a simple off- peak or on-peak pattern to having many different rates across the day, evening and weekend. By informing customers of this, they can decide not to do laundry at 5 p.m. but instead wait until after 8 p.m. when rates are lower.
“The goal is to normalize usage across the day versus building new power generation facilities,” said Michael Kidder, senior vice president of HiQube.
Read the full article by Drew Robb at Enterprise Apps Today
HiQube is a simulation-driven analytics platform to maximize business performance. Unrivaled in speed for large data sets, HiQube uniquely leverages an embedded optimization engine that speeds and guides decision-making. As a complementary solution, HiQube enriches the value of existing IT investments by providing forward-looking insight to realize business objectives. To learn more, try HiQube live or download a free trial license, visit www.hiqube.com
Altair empowers client innovation and decision-making through technology that optimizes the analysis, management and visualization of business and engineering information. Privately held, with more than 1,500 employees, Altair has offices throughout North America, South America, Europe and Asia/Pacific. With a 26-year track record for high-end software for engineering and computing, enterprise analytics solutions, and innovative product design and development, Altair consistently delivers a competitive advantage to customers in a broad range of industries. To learn more, please visit www.altair.com