The prior tech giant International Business Machines (IBM) made an announcement on Tuesday reporting to be launching new updates regarding analytics in its Hadoop analytics. It will be offering machine learning insights, data science and R language, for the consumer companies to extract insights from their existing enterprise data.
IBM realized that most of the companies fail to utilize the full potential of the product they offer for the customer’s businesses. These enterprises use open-source tools in order to collect and store vast amount of various data.
“In our fast-paced world, the ability to turn data into insight is the difference between success and failure,” said Beth Smith, the GM of the analytics platform business at IBM.
Unveiling the features of the new Hadoop analytics solution, the company said that their product provides “a broad data science toolset to query data, visualize, explore and conduct distributed machine learning at scale.”
The analytics platform features 3 aspects for the consumer; analytics used in businesses to retrieve information fast, data scientists creates data in order to fit it well with the statistical modeling, and ensuring easily understandable IT environment is adopted.
IBM Biglnsights for Apache Hadoop includes: modules for International Business Machines Corp.(NYSE:IBM) Biglnsights Data Scientists, IBM Biglnsights Analyst, and IBM Biglnsights Enterprise Management, to find data, allocate resources, identify patterns, and manage workflows.
IBM is keen to make developments in the department of analytics and data extraction. Therefore, the company is also reportedly will be sponsoring Big Data University for the programs on Data Science and Programing for Analytics. It has been reported that most of the courses, that are being offered, are for free and reportedly over 230,000 global participants have already registered.
The technology development company also announced that Open Platform is also being offered with the Hadoop. “ODP aims to accelerate the delivery of Big Data solutions by providing a well-defined core platform to target,” IBM said. This shared offering is described by the company as majorly focusing on promoting and developing Big Data and Apache Hadoop for advancement in analytics field.
Recently, analyst from Cantor Fitzgerald, Brian White restated his ‘buy’ rating on the company’s stock and upheld the price target of $198.
Also, according to Bloomberg’s coverage, seven analysts out of 33 recommend a ‘buy’ rating on IBM’s stock, whereas 22 held a ‘hold’ and two suggested a ‘sell’. The consensus 12-month price target held for IBM stock is $159.43.
The company’s stock price was at $162.19, with a rise of 0.76% during pre-market hours.