February 15, 2017 | Written by: Susan C. Daffron
Categorized: Cognitive Enterprise
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For four-year old startup iTrend, data analysis isn’t just one aspect of the company, it’s the cornerstone of their business. The team at iTrend wanted to help their clients get more from their unstructured data, which led them to work with IBM. Using IBM Watson™ APIs, iTrend distills massive volumes of unstructured client data and turns it into information they can use in real time.
Using a combination of Watson APIs, iTrend built a platform that delivers intelligent observations based on a client’s business and its products. This solution helps their clients better understand customers, expand into new markets and discover new revenue streams.
iTrend combined several Watson APIs, including AlchemyData News (now part of Watson Discovery), AlchemyLanguage (now Watson Natural Language Understanding), Relationship Extraction, Speech to Text and Visual Recognition, along with its own technology to distill data into a prioritized and actionable list. The solution provides their clients with a list of issues that they can address to achieve a particular outcome, such as increasing sales.
Although some of iTrend’s clients use the tool to improve their bottom lines or reduce costs, others use the insights to better identify and understand both new and existing markets. “If you’re a marketer, iTrend will give you a list of very interesting engagement opportunities that exist for you, literally within the same day,” says Michael Alatortsev, iTrend’s founder. He estimates that 80 percent of the information iTrend delivers to customers is actionable, which is much higher than the industry average.
The ability to explore huge volumes of unstructured data as it’s being created sets iTrend apart from the competition, says Alatortsev. With Watson, iTrend can analyze 20 – 50 times more data than its competition by incorporating both live streaming video and indirect social media mentions into its algorithms.
To find out more about how Watson helps iTrend make sense of unstructured data, and how Watson APIs can help your firm, read the case study.
Find out more about how Watson helps iTrend make sense of unstructured data.