OpenText has joined the Artificial Intelligence world by launching a new analytics platform.
The Enterprise Information Management (EIM) company has launched OpenText Magellan, an AI analytics platform that combines open source machine learning with advanced analysis that it says offers the ability to acquire, merge, manage, and analyse big data and ‘Big Content’.
Launched at the company’s Enterprise World 2017 Conference, the cognitive computing platform is said to offer users machine-assistant decision making, automation, and business optimisation.
“Enterprises have created vast data lakes of information over the last decade, and OpenText Magellan helps to organise that information and unlock its value,” said Mark J. Barrenechea, OpenText CEO and CTO.
“As automation advances at incredible rates, and enterprise data grows larger, OpenText Magellan brings the power of analytics, algorithms and statistical models to organisations around the world for advanced decision making and better business insight. With OpenText Magellan, we are moving towards a more open, scalable and affordable future for AI. OpenText is committed to ensuring AI is designed into its offerings from day one.”
OpenText says that the offering will help customers to use machine learning to gain valuable insights from EIM data by analysing customers, trading partners, employees, order, invoices, cases, documents, and other data in these systems.
Data scientists will also be able to use Magellan to create custom algorithms, whilst the open source Apache Spark-based platform will help customers to gain valuable insights from their big data and EIM content.
OpenText also says that users will be able to augment applications with self-service analytics, giving business users greater ability to explore data and to derive actionable insights.
“Data is the feedstock of AI, and unstructured data in particular, is where the hidden insights lie; insights into customer intent, employee behaviour, partner’s contractual obligations and litigants’ evidence,” said Nick Patience, founder & research VP, 451 Research.
“The ability to ingest, analyse and understand vast quantities of data – combining structured with unstructured – is now possible using AI-driven platforms and applications. Companies that understand this will gain advantages over those that don’t and equip themselves for the AI-driven economy.”