DATA SCIENCE

Newgen Software to acquire Number Theory, an AI/ML data science platform company

Newgen Software Technologies Limited | January 21, 2022

Newgen Software, a leading provider of a unified digital transformation platform, is pleased to announce that it is acquiring India-based Number Theory, an AI/ML (artificial intelligence and machine learning) data science platform company, subject to the completion of conditions as stated in the approved Share Purchase Agreement.

Number Theory's platform, AI Studio, brings intuitive AI/ML to every enterprise, while unifying the entire lifecycle of data engineering, from data preparation to model development and monitoring. It empowers both citizen and expert data scientists to work faster and more efficiently, thereby helping in accomplishing key machine learning tasks in just hours or days, not months. This acquisition will further strengthen Newgen's low code digital transformation platform, NewgenONE, with AI/ML modeling and data analytics capabilities.

"Our customers are increasingly looking to leverage data for deeper insights and accelerated growth. Number Theory will bring domain expertise, along with a powerful engine to extract actionable insights in real time. AI/ML projects often get complex, expensive, and not rewarding. What we like about Number Theory's platform is that it is for every enterprise. It lets fusion teams build, deploy, and collaborate on the entire modeling lifecycle in low code and on cloud. We look forward to welcoming the Number Theory team to the Newgen family."

Virender Jeet, CEO, Newgen

"Newgen has developed mission-critical and complex business applications for its customers across the globe, including for enterprises in the banking and insurance space. We felt that Newgen, with its strong customer portfolio and partner ecosystem, is the perfect growth partner. We are looking forward to helping our joint customers utilize their data in the enterprise with full potential using AI/ML technologies," said Rajan Nagina and Tarun Gulyani, co-founders of Number Theory.

About Newgen Software Technologies Limited
Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility.

Spotlight

At DataCamp, we often get emails asking whether one should use R or Python when performing their day-to-day data analysis tasks. Both Python and R are amongst the most popular languages for data analysis, and have their supporters and opponents. While Python is often praised for being a general-purpose language with an easy-to-understand syntax, R's functionality is developed with statisticians in mind, thereby giving it field-specific advantages such as great features for data visualization

Spotlight

At DataCamp, we often get emails asking whether one should use R or Python when performing their day-to-day data analysis tasks. Both Python and R are amongst the most popular languages for data analysis, and have their supporters and opponents. While Python is often praised for being a general-purpose language with an easy-to-understand syntax, R's functionality is developed with statisticians in mind, thereby giving it field-specific advantages such as great features for data visualization

Related News

BIG DATA MANAGEMENT

LG Uplus Taps on Cloudera to Build Real-time Big Data Analytics Platform to Deliver 5G Network Service Excellence

Cloudera | August 12, 2021

Cloudera, Inc., (NYSE: CLDR), the enterprise data cloud company, today announced that LG Uplus has chosen Cloudera's data platform for improving its 5G network service quality and optimizing the customer experience. With Cloudera, LG Uplus is empowered to leverage the actionable intelligence and insights generated from the data to support its digital transformation initiatives and future proof its journey to the cloud. As one of the first telecommunication providers to commercialize 5G services, LG Uplus has been focused on bringing innovative services to its customers and enhancing the work efficiency of network workers since 2019. With Cloudera's data platform as its foundation, LG Uplus established the Network Real-time Analytic Platform (NRAP), which includes the necessary infrastructure to collect and analyze large-scale big data in real-time, from mobile devices to the service equipment of the telecommunication company. The NRAP improves data utilization and analysis accuracy by providing data lake and data warehouse capabilities that include the processing and transmission of terabytes of data within a few seconds to the integrated Network Management System (NMS). With the real-time data processing capability of NRAP, LG Uplus has been able to achieve business benefits such as improving the customer center's customer quality response time and pushing the service-based network quality monitoring level to near real-time, thereby improving customer satisfaction and reducing the overall amount of fieldwork. With an integrated platform that supports real-time quality monitoring and analysis of network services, LG Uplus collects and categorizes data by type and monitors it on a single dashboard to reduce overall network operation costs and improve work efficiency. Rolled out as a pilot at the time when 5G services first went commercial, the NRAP now manages hundreds of types and hundreds of terabytes of data generated daily from telecommunication network services, enabling LG Uplus to gain meaningful insights from the data and manage services for a total of 20 million users in South Korea. Using the NRAP, LG Uplus continues to power the next-generation network operating system and secure data competitiveness to support digital transformation in response to the post-COVID19 era that LG Group is actively promoting. Jin-Soo Jang, Manager of the NMS Development team at LG Uplus said, "LG Uplus was the first of its kind to launch a worldwide 5G network and has provided innovative services meeting the ever-changing needs of customers. By leveraging on data analytics, the NRAP has helped us to quickly respond to customer service quality issues while reducing the duplications in our operations. This has improved our work efficiencies, and sharpened LG Corporation's competitive advantage in our path toward digital transformation." Hyoung-Jun Kang, Country Manager of Cloudera Korea said, "Telecommunication providers are some of the largest aggregators of data and have access to a variety of data sources. To make the most of the increased volume, variety and complexity of data and gain the enterprise data insights that drive business value, telecommunication providers need to be able to handle any data, anywhere from the edge to AI. With Cloudera as the backbone of the NRAP, we are committed to supporting LG Uplus as it embraces a digital transformation journey that's underpinned by data management and analytics initiatives." About Cloudera At Cloudera, we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights. Cloudera delivers an enterprise data cloud for any data, anywhere, from the Edge to AI. Powered by the relentless innovation of the open source community, Cloudera advances digital transformation for the world's largest enterprises.

Read More

DATA ARCHITECTURE

Equifax Partners with Bridgeforce Data Solutions

EQUIFAX INC. | March 08, 2022

Equifax® and Bridgeforce Data Solutions, a fintech firm, today announced a new partnership that strengthens their commitment to the data furnisher community by offering additional tools and support mechanisms to enable efficient data accuracy. Equifax can now make Bridgeforce's industry-leading Data Quality Scanner® (DQS) and comprehensive consulting assistance provided to data furnishers as part of the agreement, providing a seamless, integrated solution for optimum customer reporting compliance and dispute management to data furnishers. Equifax has one of the industry's leading credit databases. Equifax depends on credit grantors to completely submit client data monthly in order to keep information current and maintain file quality. These data providers who report to Equifax are critical in recognizing credit risk and preventing financial losses in the credit-granting sector. For this group, which includes banks, credit unions, and lenders, among other financial institutions, more data integrity equals better credit-related choices and lower regulatory risk. "Bridgeforce and Equifax share an ongoing commitment to data quality and accuracy, which drove our decision to partner together in support of today's data furnisher community. Bridgeforce strives to help furnishers improve data quality through a combination of automated technology and consulting support. Tapping into these offerings through our partnership with Equifax, furnishers can now comprehensively assess and address compliance and operational needs to mitigate risk, reduce costs and improve their overall customer experience." Matt Scarborough, CEO of Bridgeforce Data Solutions Equifax may now refer data providers in need of assistance to Bridgeforce's Data Quality Scanner® and complete consulting services as part of the new collaboration. Bridgeforce would provide software and advice to evaluate data from furnishers, among other things, to discover quality concerns and plan for regulator audits. A Bridgeforce Data Solutions case study shows that a leading U.S. bank witnessed a 70% drop in data inconsistencies during the first year of adopting DQS and a 30% decrease in its average quarterly dispute rate over a two-year period after installation. Robert Eison, Chief Operating Officer for Equifax United States Information Solutions (USIS) said "Data furnishers play a critical role in today's credit ecosystem. As a trusted steward of consumer data, Equifax is committed to investing in practices and partnerships that help us better support customers in ensuring accurate data reporting. Joining forces with Bridgeforce supports this commitment by helping furnishers referred from Equifax enhance the quality of their data, resulting in improved accuracy, lower dispute rates and reduced compliance risk."

Read More

BIG DATA MANAGEMENT

OmniSci Inc. Announced Free Edition of Platform to Democratize the Power of Accelerated Analytics

OmniSci | March 04, 2021

OmniSci Inc., the pioneer in accelerated analytics, launched OmniSci Free, a full-featured version of its analytics platform available for use at no cost. OmniSci Free will allow users to leverage the full power of the OmniSci Analytics Platform, including OmniSci Immerse, OmniSci Render Engine, OmniSciDB, and the OmniSci Data Science Toolkit, to explore and gain insights from their big data at the speed of curiosity. Todd Mostak, CEO and Co-Founder, OmniSci said, "Our mission from the beginning has been to make analytics instant, powerful, and effortless for everyone, and the launch of OmniSci Free is our latest step towards making our platform accessible to an even broader audience. While our open source database has delivered significant value to the community as an ultra-fast OLAP SQL engine, it has become increasingly clear that many use cases heavily benefit from access to the capabilities of our full platform, including its massively scalable visualization and data science capabilities. OmniSci originated out of my struggles with using legacy analytics tools to interrogate large datasets, and it is our deep hope that making it easy to access the OmniSci stack in its entirety will allow analysts, data scientists, and decision-makers everywhere to unlock the full power of their data." Ian Robinson, Managing Director of BlueConduit said, "At Blue Conduit, we use machine learning to support the removal of lead and other dangerous materials from communities, maximizing public health while minimizing costs. OmniSci has been crucial in our partnership with communities to deliver up-to-date and accurate information about these risks. It enables us to rapidly and automatically deploy geospatial information to the public and decision-makers. We're tremendously excited about the introduction of OmniSci Free, which will allow our organization, and others like us, to more easily leverage the power of accelerated analytics to serve the public good." OmniSci Free is licensed for commercial use, with the exception of paid hosting. It can be deployed on both CPU-only (X86) servers as well as servers with Nvidia GPUs for additional acceleration and allows for use of up to 32GB of RAM, generally adequate for datasets of up to 500 million records, and three concurrent users. It is available for immediate download, as well as turnkey deployment in the AWS and Azure clouds. Users can also try OmniSci on their Mac laptops and desktops with the OmniSci for Mac Preview. Besides, OmniSci offers an Enterprise Edition of its platform without user limits that allow scaling of the platform on-premises or in the cloud to multiple servers and datasets with tens of billions of records, with enterprise support options. About OmniSci OmniSci is the pioneer in accelerated analytics. The OmniSci platform is used in business and government to find insights in data beyond the limits of mainstream analytics tools. Harnessing the massive parallelism of modern CPU and GPU hardware, the platform is available in the cloud and on-premise. OmniSci originated from research at Harvard and MIT Computer Science and Artificial Intelligence Laboratory (CSAIL). OmniSci is funded by GV, In-Q-Tel, New Enterprise Associates (NEA), NVIDIA, Tiger Global Management, Vanedge Capital and Verizon Ventures. The company is headquartered in San Francisco.

Read More