MILPITAS, Calif., Feb. 10, 2016 /PRNewswire/ -- ABBYY®, a leading provider of technologies and solutions to action information, today announced availability of its Compreno technology. As the industry's most comprehensive language-based technology for smart business process applications, Compreno surpasses traditional capture and text analytic solutions by understanding contextualized word meanings, facts and story lines within business-critical text. This enables decision makers to effectively leverage growing data sets of unstructured information to accelerate their critical business processes and decision making.
Compreno builds on ABBYY's history of innovation in natural language processing (NLP) document recognition and capture to deliver enhanced functionality to customers across heavily regulated and document-intensive industries, such as oil and gas, healthcare and financial services. The first products leveraging Compreno are ABBYY InfoExtractor SDK and ABBYY Smart Classifier.
The growth of mobile, cloud and other collaboration tools within enterprises, plus a continued reliance on paper-based communication, has led to an explosion of unstructured content that doubles every 12-18 months (IDC study, Unlocking the Hidden Value of Information, July 2015). Yet, businesses can only realize the potential of a new generation of smart business process applications by effectively mining unstructured content for facts, events and storylines that are critical for decision making.
"The proliferation of devices and sources of information make it harder for businesses to process, analyze and act on the information they collect, leaving them in the dark about the current state of their business," said Sue Feldman, CEO of Synthexis, a cognitive computing, search and text analytics advisory firm. "Working harder is no longer the solution. There is simply too much information, and too much complexity. Technology like ABBYY Compreno knits together the information threads to provide greater insight so they can make better business decisions."
The challenge with understanding text-based information is that words have meaning beyond a formulaic correlation. ABBYY Compreno employs advanced morphology, syntactic, semantic and ontological analysis to dissect language, gathering meaning within text by understanding entities, relationships, fact and events. Machine learning enables Compreno to constantly tune its analysis algorithms, and the use of domain-specific ontologies, properties and relationships increases analysis and extraction accuracy for specific industries and use cases, including those critical to oil and gas land managers, patient care providers, or financial services risk managers. The deeper understanding provided by this advanced, language-based technology enables organizations to automate their Business Intelligence and analytics processes, increasing speed and allowing for more informed decision making.
"To date, text analytics technology based on statistical algorithmic approaches have helped businesses improve their operational efficiencies, but that's only the ground floor of what smart business applications are capable of," said David Bayer, ABBYY's vice president, Compreno Suite. "Taking text analytics and information discovery to the next level, Compreno gives businesses the ability to gain a deeper understanding of their information than ever before. Now organizations of all sizes will be able to quickly make well-informed decisions that help mitigate risk, and drive revenue."
ABBYY is a leading global provider of technologies and solutions that help businesses to action information. The company sets the standard in content capture and innovative language-based technologies that integrate across the information lifecycle. ABBYY solutions are relied on to optimize business processes, mitigate risk, accelerate decision making and drive revenue. ABBYY technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Canada, Cyprus, France, Germany, Japan, Russia, Spain, Taiwan, UAE, the UK, Ukraine, and the United States. For more information, visit www.ABBYY.com
ABBYY, the ABBYY Logo, and Compreno are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.