OpenText unveiled its solution to managing lakes of data and optimizing business operations: Magellan.
An artificial intelligence and machine learning platform, Magellan was introduced at OpenText’s annual user conference EnterpriseWorld in Toronto.
The AI-powered platform enables machine-assisted decision making to ingest, manage and analyze big data and big content, helping businesses gain crucial insight by better understanding Enterprise Information Management (EIM) data.
“Enterprises have created vast data lakes of information over the last decade, and OpenText Magellan helps to organize that information and unlock its value,” said OpenText CEO Mark Barrenechea in a press release.
OpenText’s Magellan is both easy to use and affordable, making it an appealing solution to a wide range of businesses. It is built on a highly scalable infrastructure, ready to handle massive amounts of both structured and unstructured data such as words, text and even social media.
“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 451 Research Founder Nick Patience in a statement. “Companies that understand this will gain advantages over those that don’t and equip themselves for the AI-driven economy.”
Powered by OpenText Analytics and Apache Spark, the AI-assistant promises to reduce the time, effort and expertise required to leverage the value of advanced decision making analytics and task automation.
Magellan isn’t the first of its kind in the AI space. It will compete directly with IBM’s Watson, machine learning technology that already offers a slew of services.