Business software giant SAS unveiled a new version of its software platform on Tuesday, the first major overhaul in more than three years.
Cary-based SAS boasts that the latest version of its software will simplify and speed management of "big data." In the analytics field that means analyzing and deriving insights from all of the data available, rather than just a sample, which is what many businesses currently do.
SAS 9.3, which will be available to customers this week, is the building block that forms the foundation for numerous SAS products. Corporations, government agencies and others use SAS business intelligence and analytics software to analyze their operations and predict trends.
The upgrade should solidify SAS' position as the leading provider of advanced analytics software, said Dan Vesset, program vice president of business analytics solutions at technology research firm IDC.
"With every iteration, they improve their scalability and performance," Vesset said. "That is very important in and of itself. ... Eventually, that leads to more accuracy and better assessment of risk."
Many SAS customers have massive amounts of data to analyze. The online travel booking site Expedia, for example, has nearly 200 terabytes of customer data. One terabyte equals 1,024 gigabytes.
SAS spokesman Steve Polilli called the upgrade "a great benefit for our existing customers and, for new customers, it makes our offerings even more attractive."
SAS constantly enhances its software, said Polilli, but the new version is the first "generational upgrade" since SAS 9.2 was released in March 2008.
"Almost everything we do is built on top of this," he said. Consequently, the upgrade enhances several SAS products, including: SAS Predictive Analytics and Mining Suite, which is used to discover patterns and insights, and SAS Forecasting, used to project future behavior.
Enhancements include improved simulations, new security features and an "expanded arsenal of predictive modeling algorithms."
Privately held SAS, which this month is celebrating its 35th anniversary, has 11,920 employees worldwide - including 4,643 workers at its headquarters in Cary. It's one of the most successful companies based in the Triangle and ranks among the region's largest employers.
Last year the company's revenue rose 5.2 percent to a record $2.43 billion. The company doesn't disclose its profit.
According to IDC, last year SAS ranked first in advanced analytics software with a 35.2 percent market share - more than double that of second-ranked IBM. It also ranked third in business intelligence software with an 11 percent market share, trailing SAP and IBM.
IDC's Vesset said that big data is such a hot space that SAS inevitably will face increased competition going forward.
"Big data and big analytics have become a buzzword," he said. Everyone talks about it now."
