Teradata’s new RACE eases decision making on business investments

NEW DELHI: Today, at the Teradata Partners Conference, Teradata launched its Rapid Analytic Consulting Engagement or RACE, which is an agile, technology agnostic methodology that gives clients insight into the potential business value of analytic solutions before an investment is made. Teradata’s deep expertise and experience in driving high-impact business outcomes fuses business knowledge, data science and technology in a proven process that fully delivers on commitments in just six to ten weeks, rather than months.

The company has said in detail that the Teradata RACE service leverages Teradata Business Value Frameworks–intellectual property gleaned from the company’s experience with thousands of successful client engagements. The resulting frameworks are tailored by industry and/or business function, and act as a value accelerator–identifying the most relevant and valuable analytic solutions to help clients achieve faster time-to-value from analytic and data investments, while reducing risks associated with complex analytic initiatives.

Teradata’s RACE service comes at a time when the potential return on investment and strategic business impact of any analytic solution is expected prior to investment, despite the complex variables in calculating projections. Key factors such as the inflow of new data sources, including IoT sensor data, as well as the proliferation of new analytic techniques, complicate the deployment and use of analytic solutions by business users.  Armed with detailed visibility from the applicable Teradata Business Value Framework, RACE clients will begin projects with a clear roadmap about when and how the project will deliver a return on their investment.

The RACE method involves three primary phases:

1. Align – Using the Business Value Framework as a starting point, Teradata analytic business consultants assist the client in identifying and aligning around the highest potential value uses cases, and validate the availability of key data assets to support the use case.
2. Create – Teradata data scientists load and prepare the data, and develop new or existing analytic models for the selected use cases. This phase involves rapid iterations with the business sponsors to ensure the analytic insights will produce the targeted business outcomes.
3. Evaluate – Teradata analytic business consultants analyze the results and document the potential ROI of deploying the analytic use cases at scale, and develop a deployment plan for the client.

“When companies use analytic consultants, they expect experience-based insights about what works, and what does not. Teradata consultants understand this and use proven tactics to routinely drive accelerated, high-impact business outcomes for our clients,” said Dan Harrington, EVP, Consulting and Support Services, Teradata Corporation. “Along with our unique consultative perspective, Teradata can also leverage its deep technical capabilities to architect, implement and manage innovative analytic ecosystems. This end-to-end program execution – something Teradata alone can deliver – makes life simpler for our clients and significantly reduces their risk.”