At the I Love APIs 2014 conference today, Apigee unveiled a version of the Apigee Insights analytics platfrom that adds a graph visualization tool that allows data analysts to more easily explore common events and time-based behavior patterns.
Exposed via RESTful APIs, Apigee Insights is designed to give developers access to a rich set of analytics data that they can use to enhance their applications, says Anant Jhingran, vice president of products for Apigee. Rather than having to make massive investments in big data analytics platforms, Apigee Insights makes it simpler to embed, for example, predictive analytics capability inside applications.
Based on a Graph and Sequence Processor engine, Apigee Insights now allows developers to leverage machine learning algorithms using better-defined APIs to visualize big data in a way that turns all that information into actionable intelligence, Jhingran says.
As the API economy continues to develop, Jhingran says the difference between success and failure will eventually come down to how much insight developers are able to surface inside their applications. While the aesthetics of the application will always be important, its business value will be directly tied to the quality of the analytics it can surface.
It's available as a cloud service or as an application that organizations can deploy on premises. Jhingran says that over time more advanced analytics will be consumed inside another application rather than in the dedicated analytics applications that now dominate the category. That doesn’t mean the latter applications will disappear. But it does mean that end users will prefer to consume analytics data within the context of some larger business process or workflow. In fact, more often than not the analytics capabilities being invoked will need to span multiple applications.
Organizations of all sizes have been trying to incorporate more facts into their business decision processes. In fact, a global survey of more than 1,000 senior business and IT executives published today by Accenture finds that business executives are increasingly using big data to "identify new sources of revenue (94 percent), retain and acquire customers (90 percent), and develop new products and services (89 percent)." In terms of actual success, the business executives say they have seen tangible benefits from those investments in the form of "finding new sources of revenue (56 percent), new product and service development (50 percent), winning and keeping customers (47 percent), and enhancing the customer experience (51 percent)."
Unfortunately, the majority of business decisions are still based on instinct and experience. But in a large number of instances, gut instinct is at odds with the facts. The challenge is that most organizations don’t have ready access to all the facts that should be used to inform those decisions.
None of this means there won’t still be times when experience trumps analytics. But it does mean that business decisions going forward should at the very least involve much less guesswork — assuming, of course, the information needed to make those better decisions is only an API call away.
For more coverage, check out this post by Mark Boyd.