We’re pleased to announce Praescient’s partnership with TransVoyant, a cutting-edge technology and services company aimed at empowering a range of users with real-time operational decision making and support. By joining our analytic acumen with their robust data collection capabilities, we will bring an entirely new set of solutions to existing and future clients across several industries – ranging from responding to security threats at internationally located facilities to making smarter financial trades using real-time global insights. These joint solutions will also enable improved enterprise management such as reduced shipping costs and quicker transportation routing.
TranVoyant’s Continuous Decision Intelligence™ (CDI) platform is the tool behind these exciting new solutions. In a nutshell, CDI™ uses a form of cloud computing that harnesses technology for parallel computing at a low cost to make it easy for even a non-technical user to develop meaningful and actionable analytical insight. The platform can ingest a wide range of open-source, live streaming data feeds covering weather, social media, natural disasters, logistics, public safety, and maritime information. CDI has been recognized in both industry and the media as a leading platform for real-time big data crunching. “Continuous Decision Intelligence is at the industry forefront because it understands the strategic elements involved and how they interrelate,” said Ben Kerschberg of Forbes.
So how can CDI be used to empower decision makers? In one stand out notional example, the platform (under the Federal market pseudonym GeoVigilance™) was used to improve situational awareness and enhance security at a critical military facility. Zeroing in on Whiteman Air Force Base, the home of the B-2 stealth bomber, the analyst used GeoVigilance to track real-time observations of flight operations from sources such as Twitter, Facebook, Flickr, and YouTube. With the platform’s capabilities, the user can set up rules to issue alerts of flight observations tailored to temporal and geolocated parameters. These alerts obviate the need for analysts, and ultimately decision makers, to sift through large amounts of data to find relevant intelligence.
TransVoyant’s powerful platform can be used to improve supply chain management, drive down associated logistical costs, and assess and prevent risk. Threats to the successful operation of a large enterprise, such as an international shipping company, can come from both local and external sources. Due to globalization, regional instability, complicated logistical coordination, and other factors, organizations have much less control over their supply chains compared to just a few decades ago. With CDI, organizations large and small can provide advanced warning of risks through the monitoring of real-time events, allowing for quicker and more informed responses.
The platform can also be a vital tool for time-sensitive or even life-saving operations. Take the example of a patient with an immediate need for an organ transplant. Any delay in getting the organ to the surgeons would be fatal for the patient. With CDI, the transporters can take advantage of up-to-the-minute information regarding a range of critical indicators such as weather, traffic, and airport delays all in one place. Often, information about such delays (e.g., a FAA ground stop) can be determined even before official announcements are reported – saving minutes that could be the difference between life and death.
Additionally, the platform can empower smarter market trading through global big data exploitation. For example, predicting a merger based on flight patterns of a company’s jets in one particular location repeatedly over a measured period of time. In another instance, an analyst could evaluate a decrease in demand in global oil markets based on a drop in global oil well counts and oil shipments below 30-day average levels. Even catching the momentum from an event related to a target company that impacts the stock price in a positive way by setting trigger alerts on intraday trading, cumulative daily trading, articles in business press and social media.
There are even more applications for TransVoyant’s technology when paired with the extensive range of analytical expertise that Praescient can bring to clients. Together, we’ll enable vital solutions for customers operating in military, governmental, medical, and commercial spaces. For more information, have a look at the official press release announcing our partnership. Check back with the Ideas Blog for updates on our joint efforts!