MONTCLAIR, N.J., June 16, 2016 /PRNewswire/ -- Pendo is bringing the attention to what really matters today: data liquidity, which Pendo defines as liberating data by sophisticated matching and search providing for API's and open standards. Pendo is pleased to announce Version 3.1 of the Pendo Data Platform (PDP), surfacing new abilities in the user-friendly web UI incorporating Artificial Intelligence (AI) attacking the battle of aggregation and intelligent machine learning in gathering of Excel spreadsheets.
"AI is a magnitude more complex than machine learning," states Pamela Pecs Cytron, CEO of Pendo Systems. "You don't model the world you model the mind. When you model the mind you can create systems capable of learning everything about the world. It is a much smaller task, since the world is very large and changes occur behind your back, which means World Models will become obsolete the moment they are made. The only hope to create intelligent systems is to have the system itself create and maintain its own World Models continuously, in response to input. This is the value PDP is providing to help financial institutions."
MS Excel spreadsheets are generally referred to as "Unstructured Data," with "Structured Data" being traditional databases. A major challenge companies face is that many times, spreadsheets are the only place where vital data resides. The bigger the company, the bigger the problem. Hundreds or thousands of spreadsheets can be hard to manage, but still remain a critical resource. The PDP can now intelligently extract this data making it available for any type of analysis and linking to traditional databases.
The PDP handles any combination of structured and unstructured data. For example, in the case of spreadsheets, using the existing PDP Plugins, users can consume as many spreadsheets as needed, perform searches and extract targeted information. All of this is information made available to team members in a very high-speed environment.
The ability to search any and all of your data is a core function of the PDP. Scripting allows our clients to target very specific information for extraction. For example, users can direct the PDP to go to Worksheet 1, search for a phrase, extract that data and the value to the right, then go to Worksheet 4, search for a phrase and extract a range of cells. This targeted data is then brought back into the PDP and can be included with other data, exported or used in various analyses available within the PDP itself.
In a similar manner, most any type of unstructured data such as PDFs, MS Word documents, audio files and video files can be searched and have data extracted. In fact, hundreds of file types can be processed in this manner.
The PDP is positioned as a sidecar to large, expensive data projects, delivering an immediate return on initiative in days and weeks versus months and years. The PDP finds the "Dark data" addressing the challenges of multiple sources of information, redundant customer data and data trapped in legacy systems. It eliminates the inefficiencies and lost opportunities resulting from poor data integration and visibility. This breakthrough solution liberates both structured and unstructured data and enables business users to quickly get the insights needed to make business decisions and take action. Ms. Pecs Cytron states, "We are the ideal tool for MRA (matters requiring attention) projects such AML, CCAR, and mandatory changes in credit risk, regulatory and compliance. These projects require agility and speed. The PDP completes critical customer projects in days and weeks."
About Pendo Systems, Inc.
Pendo Systems is a financial technology company providing an important technology solution to a major problem in today's financial services industry: lack of transparency and disparate data. The global growth of capital markets institutions has created silos systems by line of business and by jurisdiction. Pendo focuses on discovering the dark data. www.pendosystems.com
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SOURCE Pendo Systems, Inc.