In this new era of connected devices the Internet of Things and Industry 4.0 are changing business paradigms for software and technology companies. Software and hardware components are increasingly connected by wired and wireless networks. Gartner estimates that by 2020 there will be 20.8 billion connected things in use worldwide. These connected machines, software logs, and sensor networks generate enormous data sets. But collecting large amounts of data doesn't provide value. Successful companies are applying advanced analytics to reveal valuable insight from these Big Data sets to gain a strategic advantage.
As an analytics consultancy with decades of experience, Elder Research has helped software and technology companies by using data science to solve tough business challenges, inspire product and service differentiation, and uncover profitable competitive advantages.
Here is a brief overview of analytic services we can provide to software and technology companies:
Product USAGE & LOG ANALYTICS
Many commercial products produce logs of their usage, which are a very rich source of information about how customers interact with the product. Log analytics provides a robust, quantitative measure of the precise way users are interacting with the software. Through data mining, predictive analytics, and data visualization it can reveal valuable insight about software quality and user behavior that can be used to:
- Streamline software development processes
- Increase productivity
- Improve software stability
- Enhance user experience and retention
Elder Research can build predictive models and data visualizations to reveal actionable insight from your log data. Learn more.
IOT & SENSOR Data ANALYTICS
The Internet of Things (IoT) is creating opportunities for industries able to take advantage of this wealth of data to improve product usage, reduce maintenance costs, avoid equipment failures, and drive improvement in their business operations. Elder Research has extensive experience helping our clients use predictive analytics to filter through the noise of Big Data from sensor networks to reveal actionable insight. Learn more.
Elder Research can provide an entire analytics platform or individual services on an as-needed basis. What sets us apart is our flexibility to provide only the analytics necessary to drive product and customer service excellence for your organization.
Product Usage Analytics Improves Software User Experience
Elder Research successfully used over 1TB of log data to build a user segmentation model for a major software client. We also created a custom visualization tool allowing the client to visualize their log data in a way that was previously impossible.
Results: User segments defining unique software user personas were reproducible with 92% accuracy and have proven extremely valuable in helping SolidWorks understand user needs and behavior. Product Usage Analytics enabled SolidWorks to better understand, communicate with, and serve their users, facilitating more effective customer engagement and outreach.
Using Sensor Analytics to Predict Natural Gas Well Freezing
Elder Research harnessed 20 years of detailed sensor readings from hundreds of wells to characterize transient well states. The goal was to predict gas well shut-ins (blockages preventing production) due to hydrate formations four to six months in advance in a North American field, where winter months allowed only very limited access.
Results: Our model was far more accurate than the existing heuristic models and it allowed operations personnel to know which clusters of well pads should be prioritized for treatment. A second model was created which clearly showed when in the new well life cycle a plunger pump system should be installed. The estimated return on investment for each model was less than one year. Read the Case Study
Request a consultation to speak with an experienced data analytics consultant about your analytics requirements.