September 13, 2013

SAP has announced their plan to acquire KXEN, a cloud-based technology provider of predictive analytics based in San Francisco, which allows SAP and the SAP HANA platform to have predictive capabilities so that customers gather big data and leverage it before their competitors, the company said.

KXEN technology automates modeling and analytical tasks, which allows faster deployment and adoption by line-of-business users. KNEX is intended to compliment the SAP Predicative Analysis software to enhance the value of core SAP applications for managing operations, customer relationships, supply chains, risk and fraud, said SAP.

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SAP applications built on SAP HANA, like SAP Fraud Management analytics application, SAP Smart Meter Analytics software and SAP 360 Customer solution, are planned to share the same cloud as KXEN technology. The incorporation is aimed to help customers to utilize predictive analytics and data mining.

“The compelling combination of KXEN with market-leading analytics and business intelligence solutions from SAP intends to deliver the capability organizations need to innovate for growth in high-volume data environments,” says Michael Reh, EVP of business information technology, product and innovation at SAP, in a statement.

[See Also: Big Data Innovation in Banking]

ABOUT THE AUTHOR
Zarna Patel is a staff writer for InformationWeek's Financial Services brands, which include Bank Systems & Technology, Insurance & Technology and Wall Street & Technology. She received ...