The amount of data that we are collecting has increased exponentially over the past decade, driving a new world quantum of data storage. This has left many businesses with considerable information overload and makes it difficult for them to operate in this new environment and to achieve a Return on Investment.
So how can companies harness this data to inform decision making and drive business growth? - The answer is data analytics.
Many companies have a Big Data Plan, but they are now realising that to extract real value they also need a Data Analytics Plan. Building a Data Science team is extremely difficult, time consuming and expensive and this is where Spectra Analytics can help.
Spectra Analytics is a Data Science software and consultancy firm established in 2014 by members of the Centre for Complexity Science at the University of Warwick. Spectra enable businesses to extract value from their data by applying state-of-the-art statistics and Artificial Intelligence (AI) / Machine Learning. They offer companies a low-cost alternative to building their own data science capabilities. Their close links to academia allow them to attract very high level (PhD standard) talent with less risk and at a lower cost than their competitors.
Spectra works across a range of industries from Finance and Healthcare to Transport. Their unique blend of analytics, software development and business intelligence has seen them develop a loyal client base and win funding awards from the European Commission and InnovateUK.
We believe that our clients are the experts in their business. Hence, we are not here to tell our clients how to run their businesses. Instead we try to foster a close relationship with our clients to allow us to synergise their knowledge with our expertise in data analysis. Our aim is to provide our clients with the information they require to make informed decisions. However, for any data-driven approach to be successful there must be a willingness to integrate the analytics throughout the firm.
Each firm has unique challenges which require unique solutions. Our ability to apply a range of techniques across multiple domains allows us to tailor our solutions for individual clients, enabling them to extract the most from their data.
Beyond Big Data there is Big Information; the process of turning data into actionable insights. This requires using the most appropriate form of data analysis for a given problem, which may be simple descriptive statistics but could extend to applying academic level research.
Data Science is a rapidly developing field. This means that it is very important to stay at the forefront of research and continually innovate. We achieve this through close relationships with academia: supervising PhD students, co-authoring research, joint funding bids, and running internships programmes.
Complexity Science examines the intricate causal relationships within real world systems. Many seemingly disparate systems, such as the weather and the economy, exhibit similar mathematical properties. This interdisciplinary focus allows us to develop unique insights and solutions.
Hiring in-house teams can work well but it is often very expensive and time consuming. Furthermore, the knowledge of in-house teams tends to be very narrow which means they don't have the cross-fertilisation of ideas that are common place in consultancy firms. Hiring top data scientists can also be very difficult as they are often drawn to consultancy firms due to the variety of work available. Consultants on the other hand can be available at short notice for specific projects.
Standardised analytics platforms are a great low cost way for businesses to start to develop analytics capabilities and can be implemented quickly. However, they are simply tools and as such require qualified data scientists to implement and analyse. They are also limited in scope and not specifically designed for an individual's business needs. This means building an in-house team or hiring consultants.
Enabling businesses to unlock the power of their data
To become the world's leading "Artificial Intelligence Factory", providing solutions to the world's most pressing problems
Spectra Analytics is a value-driven organisation with the values built around three pillars: our people, our clients and our society.
- Firm’s biggest asset
- Focused on delivering results
- Epitomise integrity and honesty
- Act in accordance with the highest professional standards
- Intellectually curious and keen to share knowledge
- Display creativity and imagination
- Our clients come first
- Build long-lasting client relationships
- Deliver the best to every client and aim to surpass expectations
- Provide clients with the most appropriate solutions for their needs. The most complicated solutions are not always the best solutions
- Keep client information confidential
- Contribute to society through the pursuit, dissemination and application of knowledge
- Build a foundation for best practice in quantitative and qualitative analysis
- Honest and transparent approach to statistical analysis
Research ethics are at the heart of our work. Therefore we have implemented a rigorous Research Code of Practice. This draws upon the guidance and good practices espoused by the UK Research Integrity Office (RIO), Research Council UK (RCUK) and the University of Warwick.
In addition, many of our employees will either hold, or be working to obtain, charters in Mathematics and Science. Hence, we also expect all our employees to uphold the Codes of Practice set out by the Institute of Mathematics and its Applications (IMA) for charter holders.
Technology is at the heart of data analytics. It is only with the increase in processing power and data storage that we now have the ability to tackle 'Big Data'.
Spectra Analytics has access to state-of-the-art high performance computing facilities. These include distributed computing and supercomputer facilities with petabyte data storage through MidPlus at the University of Warwick. We also make use of parallel processing, GPU and cloud computing where required.
To us the most important aspect of data analytics is data security. All of our client's data is very important to us. To this end we have measures in place to protect client data. We use 256-bit AES hardware encryption on all our devices. We would be happy to discuss our security arrangements with clients and put in place other safeguards as required.
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