Manav Garg is the CEO and founder of Eka, the global leader in providing Smart Commodity Management software solutions. He recently spoke with Modern Pumping Today to discuss Eka’s Commodity Analytics Cloud, which allows managers, specialists, and executives to gain answers to their most critical questions quickly and easily to gain a competitive advantage. For more information, visit www.commodity-analytics-cloud.com.
Modern Pumping Today: In what ways is Commodity Analytics Cloud different from other business intelligence tools?
Manav Garg: Unlike generic business intelligence tools, Commodity Analytics Cloud was built specifically for the commodities markets. Backed by years of deep domain experience, Eka created the Commodity Analytics Cloud platform and apps specifically designed for the commodities markets to address high value business issues. The baked-in intelligence enables commodities companies to immediately start using the analytics platform to gain answers to the most important questions without needing to perform any customization.
Because the commodities industry is inherently a big data business, commodities companies need a solution that turns the mass amounts of data into insights for decision making. Eka’s revolutionary next-generation technology, Pace, processes millions of data entities in seconds which enables users of Commodity Analytics Cloud the ability to move through data at unprecedented speed. Users can mix and match different data sets and perform real-time analysis on extremely large volumes of data.
MPT: More and more data—both internally and externally produced—is available in myriad companies. How does Commodity Analytics Cloud harness this abundance of information in a useful way?
Manav Garg: Harnessing data from internal systems, such as ETRM, CTRM, ERP, CRM, and spreadsheets, and external sources, such as market curves and weather data, Commodity Analytics Cloud brings all the data together in one place to answer the most important questions. Information is displayed in an easy-to-understand way that facilitates deeper inquiry. Business users can focus on data analysis, not data collection.
MPT: What are some solutions for commodities companies in the manufacturing and energy?
Manav Garg: Commodity Analytics Cloud provides previously unavailable insights into key business areas so commodities companies can take action before competitors. The apps available within the Commodity Analytics Cloud platform span multiple categories including positions, P&L, trading, risk, credit, finance, supply chain, reconciliation, counterparties, and more. For example, procurement activities can be tracked and analyzed with apps related to spend, coverage, and cash flow. Apps are available to support specific geographies (North America, Europe) and specific commodities (natural gas, crude oil, power). Different trading strategies can be compared and analyzed.
MPT: Executives, risk managers, and logistics managers need to make sense of extremely large volumes of data. How can Commodity Analytics Cloud meet these needs?
Manav Garg: Commodity Analytics Cloud provides access to real-time analytics for all business users. With Commodity Analytics Cloud, executives, risk managers, supply chain/logistics managers, traders, analysts, IT specialists, and back office personnel gain previously unavailable insights into key business areas and can take action before competitors.
Users can download the specific apps needed for their area of the business, and even customize apps for their individual needs. Analytics are no longer restricted to the realm of the IT department or other specialists. Commodity Analytics Cloud opens analytics to everyone. ◆
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MODERN PUMPING TODAY, July 2015
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