PORTLAND, Ore., April 10, 2012 (GLOBE NEWSWIRE) -- HCG Software, LLC, maker of comprehensive business intelligence (BI) solutions, today announced the release of HCG Prevision Version 7.0. With this latest release, Prevision 7.0 becomes the only BI application leveraging Big Data, data analytics, predictive modeling, and Microsoft's Excel all within a unified enterprise system.
Key new features include a lightning-fast in-memory data engine with intelligent query, an improved analysis user interface, and an intelligent caching layer for greater performance. Enhanced report distribution capabilities and complex parallel processing round out the significant feature set in this milestone release for the company.
"Our clients demand rapid, timely, and accurate access to large volumes of data," said Scott Stanton, Chief Executive Officer of HCG Software. "With the new reporting, data analytics, predictive modeling performance enhancements, clients will be able to drive analysis across tens of millions of records spanning 10-20 years allowing the insight required to make progressive, intelligent decisions in real time."
With the HCG Prevision Version 7.0 application, there is no such thing as too much data or waiting overnight for a summary consolidation.
One such example is demonstrated in healthcare. Hospitals using Prevision 7.0 can now run real-time analytics to understand total patient revenue down to the patient name, procedure, care provider, and outcome – all on a daily basis resulting in improved profitability and margins per diagnosis.
With Prevision 7.0, financial institutions can monitor individual accounts at the loan and deposit level down to the individual transaction on a daily, weekly, bimonthly, monthly, or yearly basis to monitor and track individual account profitability.
Manufacturers using Prevision 7.0 will be able to track inventory, stock turnover, lead and lag times, and shifts in product demand for hundreds of thousands of products at both the retail and catalog level.
According to Stanton, "Most importantly – all of the HCG Prevision 7.0 clients will get these results in a matter of seconds. Not hours, overnight, or days later – but in real time, right here, right now."
The explosion in data variety and volume in the last three years has lead to an equivalent boom in simplistic or highly custom-programmed BI solutions. "We've seen an onslaught of products built around financial data utilizing simply an SQL interface and storage. This architecture immediately limits the opportunity for new insight" says Stanton. "Whether they be OLAP, cube, SaaS, or spreadsheet consolidation systems they are not suitable for real-time, mission-critical deployment."
"What makes HCG Prevision Version 7.0 so unique is the flexible NoSQL data store fully integrated with Microsoft Excel," states Chief Technology Strategist Erick Cloward. "By utilizing functional programming in an 100% .NET managed code environment, HCG is able link a client's business rules and requirements with an unlimited amount of data – financial, operational, sales, payroll … really anything!" The result with Prevision Version 7.0 is an unmatched robust Big Data management solution coupled with the simplicity of enterprise data access, analytics, and distribution.
Stanton is upbeat about the future: "This initiative is a bold generational change for Prevision, placing it in a position to compete favorably with leading-edge architectures. The vision is very ambitious and customer adoption and feedback on the latest release of HCG Prevision Version 7.0 has proven that our innovative approach is allowing customers to realize benefits they never thought possible with tradition methods. This has opened entirely new markets that were previously constrained by architectural limitations." But Stanton has a word of caution for those waiting on the sideline, "the Big Data of today will be known as just 'data' in five years."
About HCG Software
Backed by a decade of pioneering R&D, HCG Software, LLC is the Business Intelligence and Business Performance Management leader. Comprised of a talented group of engineers, programmers, business leaders, and innovators, HCG Software, LLC is an enterprise application software and professional services company with headquarters in Portland, Oregon. HCG Prevision provides a robust BPM application that is fully integrated for Reporting, Analytics, Benchmarking, Budgeting and Forecasting. Built on a unified enterprise database based on 100% .NET managed code, Prevision is the only enterprise level BI / BPM software application that is seamlessly integrated with Microsoft Excel. More information about HCG Software products and services can be found at www.hcgsoftware.com.
For more information please contact: David Turzillo, SVP Global Sales & Marketing, at dturzillo@hcgsoftware.com or 503.847.9903
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