A Data Science Central Community
Redwood City, Calif. – July 27, 2016 – PwC US and Paxata today announced that they will deliver a new self-service data preparation solution to PwC’s existing governance, risk, and compliance capabilities. Under the new relationship, Paxata will work with PwC to develop customized data preparation solutions that help clients structure various types of data in an intuitive and visual way, accelerating business outcomes through faster and more effective data ingestion and analysis.
“Our clients are confronting an increasingly broad array of risks and are looking to develop data-driven processes, controls, and procedures to stay ahead of them. But they are struggling to efficiently identify and prepare the raw data they need to fuel these new approaches,” said Seth Rosensweig, Principal in PwC’s Advanced Risk and Compliance Analytics Solutions practice. “Our alliance with Paxata will give our teams the tools they need to accelerate the testing and manipulation of data so that we can focus on the big picture: helping our clients manage risks and meet compliance obligations.”
Working with Paxata has enabled PwC to streamline the often painstaking pre-ingestion data preparation process that has traditionally slowed down data-intensive projects, such as transaction monitoring for anti-money laundering or risk data aggregation and reporting. “We view solutions like Paxata as a bridge to the future of analytics because they enable our teams and clients to shift their focus from merely gathering data to making meaning from it,” said Michael Flynn, Principal and Innovation Leader in PwC’s Advanced Risk and Compliance Analytics Solutions practice.
PwC’s team of professionals, who bring extensive regulatory and industry knowledge to the research and audits they need to perform, can now use Paxata to thoroughly explore and understand the origin and context of any data they need to work with and rapidly transform it for any analytic use case, within a fully governed business-centric environment. In short, Paxata’s technology helps reduce manual effort, allowing PwC’s team to spend more time on strategic, high-value analytics for its clients across a wide-range of risk and regulatory topics.
“PwC has some of the most complex, time-sensitive analytics use cases we have seen,” said Prakash Nanduri, CEO and Co-founder of Paxata. “Working together, we developed a code-free, script-free, state-of-the-art data preparation solution that gives the firm a cleaner and contextual look at previously siloed data, enabling them to make a tangible difference to their clients’ business.”
About PwC’s Risk Assurance practice
PwC understands that significant risk is rarely confined to discrete areas within an organization. Rather, most significant risks have a wide-ranging impact across the organization. As a result, PwC’s Risk Assurance practice has developed a holistic approach to risk that helps to protect business, facilitate strategic decision making and enhance efficiency. This approach is complemented by the extensive risk and controls technical knowledge and sector-specific experience of its Risk Assurance professionals. The end result is a risk solution tailored to the unique needs of the organization.
About PwC US
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
© 2016 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
Paxata is the only Adaptive Data Preparation™ platform for the enterprise. Paxata’s platform provides an interactive, analyst-centric data prep experience powered by a unified set of technologies designed from the ground up for comprehensive data integration, data quality, semantic enrichment, collaboration and governance. Information-driven organizations who want to make data worth analyzing use Paxata to explore, clean, shape, and combine all the data they need into rich AnswerSets™ which power ad hoc, operational, predictive and packaged analytics.
Paxata’s platform, built on Apache Spark and optimized to run in Hadoop environments, leverages distributed computing, machine learning and a dynamically visual workspace that promotes transparent governance and ad hoc collaboration. Paxata data prep, powered by IntelliFusion™, is designed to eliminate the need for coding, scripting and sampling. The solution is available as a service, and can be deployed in AWS virtual private clouds or within Hadoop environments at customer sites.
Paxata is headquartered in Redwood City with offices in New York, Ohio and Washington DC. Visit www.paxata.com, follow @Paxata, connect on linkedin.com/company/paxata, follow us at www.facebook.com/paxata and watch us on http://www.Youtube.com/PaxataTV.
Chris McCoin or Richard Smith
McCoin & Smith Communications Inc.