|Tuesday, 24 October 2017, 09:00 HKT/SGT|
|Distributed, in-memory database enables correlation of customer profile, buying behaviour, sentiment and shopping trends based on cross-industry data sources in sub-seconds|
JAKARTA, Oct 24, 2017 - (ACN Newswire) - OVO, a member of Lippo Group Digital, has chosen Kinetica, provider of the world's fastest GPU-accelerated analytics database, and NVIDIA to spur innovation in big data and analytics that fully utilize a 360-degree customer view and derive real-time analytics and insights on shopping trends and the digital lifestyle.
Lippo Group is a prominent conglomerate with significant investments in digital technologies, education, financial services, healthcare, hospitality, media, IT, telecommunications, real estate, entertainment and retail. Aggressively investing in big data and analytics technology, OVO is Lippo Group Digital's concierge platform, integrating mobile payment, loyalty points, and exclusive priority deals.
With the support from Kinetica and NVIDIA, Lippo Group Digital will be the first enterprise to integrate an AI, in-memory, GPU database in Indonesia.
Lippo Group Digital's investment in big data and analytics technology aims to consolidate all their customer data that are being generated by all transactional systems from various subsidiaries into a centralized analytics platform. All subsidiary-fragmented data are to be consolidated and analysed to generate a 360-degree view of the customer profile and journey. OVO will be the main anchor to link customers 360-degrees and to enable delivery of personalized offers.
By having a big data API and AI platform in place, all Lippo Group touch point channels can introduce new and personalized experiences to customers in real time. By implementing Kinetica, Lippo Group's touch point channels are able to do queries through an analytic API that involves huge volumes and rich data sets in sub-second latency, compared to traditional technology which has seconds or minutes -- or even hours -- of latency.
Through Kinetica's GPU-accelerated database, Lippo is able to consolidate multiple dimensions of customer attributes, including demographics, cross-channel buying behaviour such as their sentiments as gained through social media, and interactions in-store and online. Furthermore, Lippo will be able to correlate customer, transaction and location information, and by using geospatial analytics, will deliver actionable insights for Lippo Group business units for a better understanding of business performance and help outperforming the competitors.
Adrian Suherman, CEO of Lippo Digital Group said: "Lippo Group is strongly committed to embracing innovation and using the latest technology to create a competitive advantage for business. At the core of every business within the Lippo Group is our customers. By harnessing technology and using it with much intensity, precision and speed, we are able to understand consumers better and meet their needs and expectations."
Lippo will soon embark on big data monetization to deliver a new, smart interactive digital channel. This new channel will infuse a new shopping experience for customers, and help marketers reach out to their audiences and better understand the customer journey.
"We take pride in partnering with NVIDIA to power the business of Lippo Group, one of Indonesia's business icons. We congratulate Lippo Group for its foresight in leveraging technology for business and for being the first enterprise to integrate an AI, in-memory, GPU database in Indonesia," said Joseph Lee, Vice President, Asia Pacific Japan at Kinetica.
"Given today's changing business and technological landscapes, ever-dynamic customer needs, tight profit margins, and shorter product cycles, businesses other than retail and e-commerce can gain real competitive advantage by leveraging big data analytics. The benefits of a 360-degree customer view and accelerated data processing to make informed operational and product decisions are easily transferrable other industries," added Lee.
Kinetica's broadly applicable in-memory database is powered by NVIDIA's graphics processing units (GPUs) and can run both on premise and in the cloud, including on Amazon Web Services, Dell-EMC, Google Cloud, IBM Minsky, and Microsoft Azure. As compared to legacy systems that are based on central processing units (CPUs), GPU-accelerated solutions have proven to be 10 to 100 times faster and at only one-tenth of the hardware costs.
"The advent of machine learning and deep learning technologies will bring about a slew of exciting opportunities to Indonesia's retail industry. Our joint solution with Kinetica will offer businesses in Indonesia unrivalled performances for advanced analytics," said Raymond Teh, Vice President, Asia Pacific, NVIDIA.
OVO has been present in Indonesia since 2016 as an app that offers the most comprehensive payments, loyalty points and financial services in Indonesia. OVO provides cross-coalition loyalty program, fast, secure and flexible payments, and financial services features which give privileges for its users. To date, OVO has millions of users in Indonesia and is present in major cities in Indonesia. https://www.ovo.id/
About Lippo Group
Lippo Group is a pan-Asian investment holding company with investments in real estate, department stores, retailing, financial services, telecommunications, hospitality, healthcare, news media, and IT services. Over the past 60 years, it has established a model for growth, innovation and leadership in industries and new markets. Lippo's education foundation manages 52 schools and two universities, including Indonesia's leading private university. Lippo's healthcare initiative manages Indonesia's largest healthcare group, comprising 29 hospitals across the Indonesian archipelago, including Indonesia's world-class cancer treatment hospital. Lippo is dedicated to its vision of "Growing in Stewardship, Transforming Lives". https://lippogroup.com/
Headquartered in San Francisco, Calif., Kinetica is the provider of the only GPU database to combine data warehouse, advanced analytics, visualisations, and is optimised for running machine learning and deep learning models. With Kinetica, users can simultaneously ingest, explore, analyse and visualise fast-moving, complex data within milliseconds to make critical decisions and find efficiencies, lower cost, generate new revenue and improve customer experience. Customers in verticals such as financial services, retail, healthcare, utilities and public sector use Kinetica for fast OLAP, convergence of AI and BI, and geospatial analytics. Amazon, Cisco, Dell, Google, HP, IBM, Microsoft, NVIDIA and Tableau are part of the Kinetica ecosystem of cloud, hardware, server and software partners. Investors include Canvas Ventures, Citi Ventures, GreatPoint Ventures, and Meritech Capital Partners. http://www.kinetica.com
PRecious Communications for Kinetica
Singapore: Melinda Ilagan, Tel +65 3151 4760
Indonesia: Francisca Adinda, Tel +62 81290111429
Topic: Press release summary
Sectors: Retail & eCommerce, Electronics, Cloud & Enterprise, FinTech & Blockchain, Venture Capital, Digital
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