CHARLOTTE, N.C. (July 30, 2013) –Tresata, a big data analytics software company has teamed with AVAC, a collaboration of world leading economists and computer scientists at New York University, to bring to market advanced analytics applications built on Big Data.
A combination of the economics and computer science talent at AVAC with Tresata’s industry leading Big Data software, this partnership will offer enterprises the ability to monetize their ever increasing data assets rapidly. The initial focus will be on launching applications for the financial services industry where Big Data represents a big market opportunity to help address some of the challenges the industry faces today.
The team at AVAC, led by Professor Andrew Caplin, Professor of Economics at NYU, also has amongst its ranks Professor Yann LeCun, Professor of Computer Science at NYU and renowned Machine Learning expert; and Professor John Leahy, an expert in macro econometric modeling.
“We see tremendous synergies with Tresata,” stated Andrew Caplin. “AVAC’s expertise is in economic modeling and computer science. Tresata has next generation Big Data software. As an example, combining our strengths, we can demonstrably improve valuation models in the industry in areas such as real estate finance, liberating the flow of capital to these areas.”
Tresata launched the first big data analytics applications that sift through massive amounts of transactional, online, social and mobile data delivering real-time actionable insights. Powered by Hadoop, Tresata’s software products represent a big shift on how technology is being applied to extract value from Big Data.
“Our partnership with AVAC represents the new paradigm in Big Data,” said Abhishek Mehta, Founder & CEO Tresata. “Only when data & technology experts work with the best scientists can you automate the discovery of knowledge from massive amounts of data. Collaborating with AVAC’s thought leaders allows Tresata to continue to develop the most advanced analytics applications that help monetize big data.”
The first analytics applications as a result of this collaboration are expected to launch early next year. They will allow financial services companies to get insights from their data assets by leveraging self learning, non-parametric models tightly coupled with Tresata’s big data engines.
Tresata is building next generation predictive analytics software that automates the discovery of knowledge. This software allows enterprises to use all their data to get, grow and keep their customers and runs completely on Apache Hadoop, the leading open source data analytics platform. Tresata is widely recognized as the leader in the rapidly emerging Big Data sector offering software that helps monetize big data. www.tresata.com
About Advanced Valuation Analytics Corporation
Advanced Valuation Analytics Corporation (AVAC) provides research and modeling into topics concerning real estate economics, property valuations, and housing policies. Founded by New York University Professor of Economics, Andrew Caplin, in combination with other economists and computer scientists at NYU and industry professionals, AVAC applies the extensive knowledge of leading researchers to issues important to industry. For more information on Professor Andrew Caplin, visit http://cess.nyu.edu/caplin/.
Katie McKiever, Communications Manager
Andrew Caplin, Secretary