PITTSBURGH, June 16, 2015 /PRNewswire/ -- OnlyBoth today announced the commercial availability of the first benchmarking engine, empowering organizations to uncover new insights that drive critical business understanding and improvement. By automating the benchmarking process, OnlyBoth carries out comprehensive, unbiased comparisons that identify the unique peer groups that set a business apart. Driven by proprietary artificial intelligence and communicated in perfect English, this knowledge pinpoints areas for differentiation and improvement, driving the decisions that will shape the future and define the success of the business.
Historically, benchmarking has been conducted by industry analysts or an organization's internal analyst team. However, the delivery of connected business services over the cloud and the Internet of Things has opened the door to easily managed and valuable data, creating vast new opportunities for in-depth benchmarking analysis. The OnlyBoth Benchmarking Engine is artificial intelligence software that simply – and accurately – reviews all combinations of peer groups and quantitative/qualitative data attributes in order to discover new insights and report them with a simple, but powerful user experience.
The OnlyBoth Benchmarking Engine enables data-rich, business-services providers to offer comprehensive, automated benchmarking services to their end customers, answering in perfect English the fundamental questions of benchmarking, all in relation to their optionally-anonymized peers:
- How are we doing?
- Where could we improve?
- Which similar peers do best?
The OnlyBoth Benchmarking Engine helps business solution providers to further differentiate their offerings, create new revenue streams, improve customer retention by deepening relationships, and drive follow-on consulting in order to address the opportunities for improvement.
"IBM's Watson starts with human writings, absorbs their insights, and creates data structures to support business queries. OnlyBoth does the reverse: It starts with business data, discovers insights, and writes them up for people to act on," comments Oren Etzioni, CEO of the Allen Institute for Artificial Intelligence in Seattle. "OnlyBoth looks to transform a long-standing business process with its unique AI technologies and approach, building upon academic research at the highest level."
"Benchmarking is laudable, worthwhile, and widespread, but it has been handicapped by a lack of software automation and easily-available data," says Raul Valdes-Perez, CEO of OnlyBoth. "We envision a new world of universal business betterment made possible by automated benchmarking engines. Combining novel and unique technologies, OnlyBoth takes benchmarking to new playing fields where it delivers actionable paragraphs that drive real business value."
This artificial intelligence technology was first developed in the late 1990s at Carnegie Mellon University through a National Science Foundation research grant to Valdes-Perez, but then set aside for 12 years while the founders grew a previous startup, eventually acquired by IBM.
OnlyBoth LLC provides the industry's first commercial benchmarking engine, helping businesses offer comprehensive, automated benchmarking services to their end customers, based on their own solutions data. Founded in March 2014 by veteran entrepreneurs Raul Valdes-Perez and Andre Lessa, OnlyBoth combines machine discovery – algorithms that discover humanly-digestible knowledge – with natural language generation, making insights easy to read and share in perfect English. Business-services providers rely on OnlyBoth's breakthrough artificial intelligence to solve the usual flaws of benchmarking, such as narrow scope, bias, complexity, and scale, and uncover operational insights and areas for improvement. Learn more about OnlyBoth at http://onlyboth.com.