Oracle Introduces Financial Services Analytical Applications R Modeling Framework

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Oracle Financial Services has introduced Oracle Financial Services Analytical Applications R Modeling Framework, a new metadata driven, enterprise-modeling framework, as part of the Oracle Financial Services Analytical Applications Infrastructure. The R modeling framework extends Oracle Financial Services Analytical Applications’ metadata driven approach to analytics, to statistical modeling in R.

With this new framework, financial institutions create complete analytical applications by easily integrating statistical models exposed as services with deterministic business logic processes, all within the same platform.

“As model complexity and regulatory scrutiny increases, organizations are looking for new ways to effectively manage and optimize their use across the enterprise,” said Sultan Khan, group vice president, Oracle Financial Services Analytical Applications. “Oracle Financial Services Analytical Applications R Modeling Framework gives financial institutions new power to perform in-warehouse analytics and integrate model management into broader risk management initiatives, increase transparency and improve overall model governance and control.”

Treating models as metadata objects allows the framework to audit and trace data as it moves through the analytics workflow from data integration to statistical modeling to reporting.

According to Oracle, the solution also provides the power and flexibility of the open source R statistical platform, delivered via the in-database Oracle R Enterprise engine that supports open standards compliance, and adds the enterprise model management and governance capabilities today’s financial services institutions require.