EPAM Systems, a publicly traded consultancy and developer of digital platform engineering and software development services, has launched InfoNgen 7.0, an enterprise insight engine that imports ready-made, customized content from more than 200,000 web sources in multiple languages and includes sophisticated sentiment analysis.
The addition of machine learning through neural networks significantly improves the fidelity of the information over time, allowing users to find hidden patterns, trends and anomalies, the company said. InfoNgen users are able to quickly find, analyze and share business information to speed decision-making and remain competitive.
Nearly 80 percent of new data is unstructured, making it the fastest growing form of data to be stored, and companies not taking advantage of it are missing large amounts of relevant information, the company said. Unstructured data includes social media; customer-generated content; and enterprise assets, such as emails, documents and presentations that contain important takeaways that could transform an entire business model.
Management of all this data can be the difference between scaling a business to success or stagnating against the competition, EPAM said.
"Actionable insights are increasingly valuable to businesses, especially when combined with structured and unstructured data analysis, allowing organizations to truly understand, identify and react to gaps in performance to achieve a competitive advantage," EPAM Vice-President Jitin Agarwal said in a media advisory. "The ability to quickly consolidate and analyze unstructured data is a necessary step toward true digital transformation."
InfoNgen is deployed in several different industries, including financial services, life sciences, technology, manufacturing, retail and legal. Key use cases include:
- Brand and competitive intelligence: Identify market opportunities and industry trends by learning what your competitors are doing in real time.
- Enterprise search: Connect and search your enterprise's structured and unstructured data for hidden patterns, trends and anomalies.
- Market intelligence and current awareness: Aggregate and monitor the latest data and news about your brand, customers, partners and competitors.
- Customer feedback and inquiry intelligence: Gain valuable, on-demand insight into what customers really think about your products, sales and marketing campaigns.
- Regulatory compliance and risk avoidance: Keep track of emerging regulations and reduce the cost of compliance issues by discovering violations as soon as possible.
- Counterfeit and fraud detection: Find, monitor and take action on imitators and counterfeiters who are ripping off your products and trade secrets.
Newtown, Pa.-based EPAM’s global teams serve customers in more than 25 countries across North America, Europe, Asia and Australia.
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