Panoratio Big Data Application as a Service

Panoratio operates within the Big Data-as-a-Service (BDaaS) market, providing a platform for data analytics and visualization solutions. The company was established in 2003 by Michael Haft and Reimar Hofmann and originated as a spin-off from Siemens, a global technology firm. This move allowed other industries, such as health insurers, multi-channel retailers, and telecommunications, to leverage Panoratio's capabilities starting in 2006. Since 2013, the company has focused on delivering its Big Data as a Service platform, which incorporates machine learning and artificial intelligence to create optimization applications for business users. Panoratio has successfully raised a total of $8.85 million over three funding rounds, with the latest being a Series B round in October 2012.

The firm's business model is centered on providing a platform as a service (PaaS) that enables clients to develop custom prescriptive analytics applications in the cloud. This service is designed for data-driven solution providers, including audit, financial services, and marketing strategy consulting firms that handle massive datasets. The platform facilitates investigative and predictive analysis of large, varied data sets, allowing clients to identify key indicators of change, simulate scenarios, and enhance their business models. Panoratio generates revenue by offering its integrated application suite, which includes performance, prediction, and simulation tools. A key offering is the Optimizer suite, a comprehensive package for the insurance industry that addresses operations from cost-saving measures in claims and contracts to revenue-enhancing strategies for campaigns and complaints.

Panoratio's platform is engineered to perform complex, in-memory analytics on large volumes of data on demand. The service provides the necessary infrastructure and tools, abstracting away the complexities of managing the underlying hardware and software. This approach offers clients flexibility and scalability, allowing them to adjust computing resources as their processing needs change. For the insurance and pharmaceutical sectors, Panoratio offers specialized solutions and also develops customized prescriptive analytics applications tailored to specific business objectives. With administrative headquarters in San Francisco and scientific operations based in Munich, the company maintains a global presence with representation in Boston, Miami, Mannheim, Paris, and Madrid.

Keywords: Big Data as a Service, BDaaS, prescriptive analytics, data visualization, Siemens spin-off, data analytics platform, business intelligence, predictive analysis, machine learning applications, AI analytics, insurance analytics, pharmaceutical data, financial services data, marketing analytics, data optimization, in-memory analytics, cloud analytics, data simulation, performance management, custom analytics applications