If your office is like most, it’s got millions of gigabytes full of information stashed away on computer hard drives – and maybe even file cabinets full of paper! Every single business process generates enormous data streams – not just your ERP and CRM systems, but payroll, hiring, even ordering lunch from the caterer for those regular Thursday meetings.
So wouldn’t you like to find out how you can leverage the knowledge already contained in all that information? And derive more value from your existing systems of record?
Come to OpenText Enterprise World this July and you’ll hear how organizations in every industry are using the cutting-edge techniques of OpenText™ Analytics to derive more value from their data – including self-service access, prediction, and modeling, and innovative techniques to get insights more easily out of unstructured data (aka the stuff you use most of the time: documents, messages, and social media).
We are excited to showcase OpenText Magellan at this year’s conference and show you the impact it will have in helping analyze massive pools of data and harness the power of your information. We’ll also preview the roadmap of new developments in the OpenText Analytics Suite.
Helping Our Human Brains Navigate Big Data
Thanks to cheap and abundant technology, we have so much data at our disposal – creating up to 2.5 exabytes a day by some estimates – that the sheer amount is overwhelming. In fact, it’s more than our human brains can make sense of. “It’s difficult to make decisions, because that much data is more than we can make sense of, cognitively,” says Lalith Subramanian, VP of Engineering for Analytics at OpenText.
“That’s where machine learning and smart analytics come into the picture,” he explains. “We intend to do for Big Data what earlier reporting software companies tried to do for business intelligence – simplify it and make it less daunting, so that reasonably competent people can do powerful things with Big Data.”
Expect plenty of demos and use cases, including a look at our predictions from last year’s Enterprise World about who would die on Season 6 of “Game of Thrones,” and new prognostications for Season 7.
Do-It-Yourself Analytics Provisioning
Meanwhile, OpenText also plans to unveil enhancements to the Analytics Suite that will help give users even more power to blend and explore their own data. OpenText™ iHub , our enterprise-grade deployment server for interactive analytics at the core of the Analytics Suite, is adding the ability to let non-technical users provision their own data for analysis, rather than relying on IT, Subramanian says. They can freely blend and visualize data from multiple sources.
These sources will soon include not just structured data, such as spreadsheets and prepared database files or ERP records, but unstructured data including text documents, web content, and social media streams.
That’s because new algorithms to digest and make sense of language and text are getting infused into both OpenText Analytics and OpenText™ InfoFusion, an important component in the content analytics process. With OpenText™ Big Data Analytics, users will be able to apply these new, customized algorithms to the self-provisioned data of many types. At the same time, InfoFusion is adding adapters to pull content off Twitter feeds and web sites automatically.
The Word on the Street
One use case for this combination of OpenText InfoFusion and the Analytics Suite is to research topics live, as they’re being discussed online, Subramanian adds.
“You could set it up so that it goes out as often as desired to see the latest things related to whatever person or topic you’re interested in. Let’s say OpenText Corporation – then it’ll go look for news coverage about OpenText plus the press releases we publish, plus Tweets by and about us, all aggregated together, then analyzed by source, sub-topic, emotional tone (positive, negative, or neutral), as we’ve demonstrated with our content analytics-based Election Tracker. Over time we’d add more and more (external information) sources.”
Keep in mind, politicians, pundits, and merchants have been listening to “the word on the street” for generations. But that used to require armies of interns to go through all the mail, voice messages, conversations, or Letters to the Editor – and the net result was score-keeping (“yea” vs. “nay” opinions) or subjective impressions.
Now these opinions, like every other aspect of the digital economy, can be recorded and analyzed by software that’s objective and tireless. And they can add up to insights that enrich your business intelligence for better decision-making.
To see and hear all of this in person, don’t miss Enterprise World in Toronto, July 10-13. Click here for more information and to register.