TCS Launches Enterprise Data Lake for Advanced Analytics on Amazon Web Services Platform
Tata Consultancy Services (TCS) announced the launch of its Enterprise Data Lake (EDL) for Advanced Analytics on Amazon Web Services (AWS). TCS’ new offering will enable enterprises in the banking and financial services industry to reimagine, transform and optimize business processes faster by leveraging fast data and data-driven intelligence.
Data-driven digital disruptions are shifting paradigms in the banking and financial services industry, making it essential for organizations to view themselves as customer-centric rather than product-centric entities. Rapid technological advancements give banking and financial institutions access to large volumes of data from multiple touch points in the value chain. Data can help banks deliver a superior customer experience, but without the capability to collate, structure, and analyze the data, it remains largely unusable.
The Global Business Solutions Labs in TCS’ Cincinnati facility leveraged AWS’ big data services (Lambda, Kinesis Streams, Kinesis Firehose, S3 Dynamo DB, and Redshift) to incubate and design a reference architecture framework and solution. TCS’ EDL for Advanced Analytics solution on AWS provides a single persistent data store to house all data (structured, semi-structured and unstructured) in its native format, and it can be accessed across the organization’s processing, analytics and regulatory functions.
The solution rapidly identifies historical and trending patterns across customer segments by leveraging AWS Machine Learning based on behavior, preferences, needs, and sentiments. It is then able to deliver relevant propositions, real-time contextual communications, and a consistent experience to enhance customer-centric business processes and service models.
