I-BiDaaS Project with Qbeast Completed With Great Success
March 26, 2021
The Barcelona Supercomputing Center(BSC) was a member of the I-BiDaaS consortium, and Qbeast’s solution took part in the I-BiDaaS platform as BSC’s contribution. Qbeast’s visualization tool Qviz, which will be part of the Qbeast Platform product, was used in the banking use cases(CaixaBank) that were conducted during the project.
Industrial-Driven Big Data as a Self-Service Solution (I-BiDaaS) an EU-funded project that aimed to encourage IT and non-IT big data experts to easily apply and collaborate with big data technologies by developing, creating, and demonstrating a unified solution that significantly increases data analysis speed while coping with the pace of data asset development, and promotes cross-domain data-flow towards a thriving data-driven EU economy.
The vision of I-BiDaaS was to shift the power balance within an organization, improving efficiency, lowering costs, generating greater employee empowerment, and increasing profitability. To create a stable environment for methodological big data exploration in order to develop new products, services, and technologies. To build innovations that will boost the productivity and competitiveness of all EU companies and organizations that deal with large, complex data sets.
The I-BiDaaS project was successfully launched in January, 2018 with 13 participating organizations from 8 different countries and the duration of the project lasted for 36 months.
Qbeast, as part of the I-BiDaaS tools, was tested and analyzed in the context of fraud detection in the use cases of advanced analysis of bank transfer payment in financial terminal and enhance control of customers to online banking. Qbeast was credited with a 30% reduction in data processing time and a potential cost reduction in commercial data analytics solutions licenses.
CaixaBank concluded: “the most important conclusion of the use case was the ability to perform big data clustering analytics in a very agile way, based on existing or custom-tailored clustering algorithms.”
I-BiDaaS tools were validated for the full cycle of big data processing, as a self-service for non-IT and intermediate users, with advanced users able to customize their big-data analysis.
“One of the key gains Qbeast has obtained from the I-BiDaaS project is clearly the close contact we have had with the industry. Having CaixaBank, Telefónica I+D and Centro Ricerche Fiat in the project, and being able to work with them so closely, has had a paramount impact on how Qbeast is now, and how Qbeast will be shaped in the future.” said Raül Sirvent, Principal Investigator for BSC during the I-BiDaaS project and Senior Researcher at the Department of Computer Science, BSC.
For further information on I-BiDaaS, please visit the I-BiDaaS website.
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