Symantec Corp. (SYMC) is coming up with new offerings to woo customers and recently declared a new add-on solution for its "Symantec's Cluster File System". Customers would be able to run Big Data analytics on their existing infrastructure based on this solution. Named "Apache Hadoop", the solution offers customers significant value for money, and helps gain business insight that could facilitate efficient operation. The resultant improvement in data management will also help companies to improve their storage and server systems.
Symantec's Cluster File System is an Enterprise Solution, which has the capability of handling Big Data workloads. With the help of Apache Hadoop, the data is analyzed as it exists in the system and costly transfers for analysis are not required.
Symantec's enterprise level feedback from channel partners is not very encouraging. While the SSL business is healthy, the company needs to put more effort into bringing its Enterprise business to the desired level.
Symantec is relentlessly pursuing opportunities in the security market with the latest iterations of its popular products. In March, the company introduced the latest version of Symantec Data Insight 3.0, which will improve information management and facilitate the usage of unstructured data such as documents, presentations, spreadsheets and emails.
Additionally, uncertainty over PC sales may affect its Consumer segment throughout the year. And smaller companies like Kaspersky are coming up with competitive products at regular intervals.
Reduction in tech spending by different government and private organizations, stiff competition from McAfee -- acquired by Intel Corp. (INTC)-- as well as the prevailing economic turmoil in Europe will likely dampen results in the foreseeable future. But Symantec is coming up with innovative and user-friendly products to woo additional customers and retain its leadership position.
Symantec has a Zacks #3 Rank, implying a short term Hold rating.