Conventional data warehousing technology focuses on unifying the internal data, which is predominantly transactional, and derive business intelligence out of it. However, this is not effective in the current business scenarios because transactional data only accounts for 14 percent of the available data and the remaining 84 percent is unstructured data that also holds ample value. Unless both structured and unstructured data, whether internal or external, are unified, it is impossible to build a holistic view of the business problem. Further, Unified data view and consistent insights need orchestration of variety of technologies that is of prime concern for enterprises. FORMCEPT, headquartered in Bangalore, brings a solution to this problem in the form of a state-of-the-art “Unified Data Analysis product” called MECBOT.
MECBOT is an effort to make content analysis accessible to everyone, be it an enterprise, an individual or a device. “The MECBOT dramatically reduces the pre-processing time involved in the analytics cycle and makes the data available in consumable form for further analysis,” says Suresh Srinivasan, Co-founder of FORMCEPT. MECBOT not only provides a unified interface for storing and querying datasets but also provides batch processing, stream processing and interactive analysis out of the box. It is built on top of NoSQL technologies, like- HDFS, HBase for storage, systems like Map-Reduce, Spark, Shark and Storm for data processing and utilizes the power of graph database, key-value store and index store to provide a seamless experience for the end users. The platform can be deployed either On Premise or on Private Cloud.
Credentials of the Inspirational Speaker & Trainer
Mr. Suresh Srinivasan has M.Sc and M.Tech degree from Indian Institute of Technology Madras and Executive General Management from Indian Institute of Management, Bangalore. He has been in the industry since 1995 in both India and US. He has worked with companies like IBM, HP and Oracle. 16 years of product development experience and providing leadership roles, he has track record of providing high quality products on time both as leader and as team player. An Entrepreneur at heart, he inculcates qualities like managing innovations, product strategy and building strong technical teams with solving business problems.
Cracking the Arduous Journey
Lack of capability to unify various data sets often transfers unidentified data into the “dark data” repositories of an organization. This creates a huge gap in analysis as no insights can be derived from those stored data sets through the analytics application layer.
To achieve a leadership position on a newly launched product is an arduous task. The challenge is made even more difficult due to today’s competitive intensity, customer volatility, and economic uncertainty keeping in mind the difficulty of innovating in an environment of escalating challenges to intellectual property. Having identified the lack of a pre-processing stage in conventional data analysis platforms, FORMCEPT has uniquely positioned its hardware independent solution as one that unifies data sources through its Unified Data Analysis platform, which significantly reduce deployment cost and time for its end users.
Key Principles for a Successful Organization
FORMCEPT has always tried to keep the open culture so that employees can always speak up; share their innovative ideas with organizations to achieve the business goals, with keeping up team work, employees are expected to learn new things and keep innovating the product as well as themselves. Even when it was very beginning, the flat startup FORMCEPT provided free food, good stock options and overall great vision and future to the staff members.
Redefining Data Analysis
FORMCEPT believes that unless data is unified, standardized and semantically harmonized with minimal noise, it is impossible for downstream analysis to derive consistent insights. With that belief, MECBOT is designed to maintain a managed, semantically enriched data reservoir which enables each and every individual to access the data and perform various analyses on their datasets.
MECBOT uses FactorDB, an innovative metadata handling methodology, which sits on top of proven NoSQL technologies, like key-value stores. The platform enables the enrichment of content using a knowledge base built on the concepts of Linked Data to identify precise context and extend across domains. It also seamlessly connects data across multiple sources, using the patent pending Data Folding ™ techniques to discover the relations and patterns. By using MECBOT, Text Analysis, Graph based analysis and Statistical analysis can be done at a scale without worrying about volume, velocity and variety. It also scales horizontally and vertically on commodity machines.
Business Intelligence is mandatory for Today’s Industry
Organizations across the globe operate with distributed information sources. With a diverse range of repositories, various data types, and discreet external sources of data, enterprises are finding it difficult to derive business intelligence. In order to address these issues, FORMCEPT provides a Unified Data Analysis platform that is capable of processing data more effectively and helps to reduce the development time of cognitive data-driven applications for customers. FORMCEPT’s solution has the potential to reduce time, and over 80 percent of cost organizations spend on the pre-processing stage of data before actually leveraging the benefits of application analytics.