Precisely Announces Breakthrough in Data Enrichment with New Data Graph API
Unified access to a connected network of trusted datasets empowers users with enhanced query capabilities to gain valuable insights
BURLINGTON, Mass., Oct. 8, 2024 /PRNewswire/ -- Precisely, the global leader in data integrity, today announced the Data Graph API, a new addition to the Data Enrichment service within the Precisely Data Integrity Suite, during its Trust '24 Data Integrity Summit in Philadelphia. For the first time, a single API offers simplified access to the Precisely data portfolio for flexible queries, data enrichment, and enhanced data discovery. Supported by the PreciselyID, the company's unique and persistent identifier for any addressable location, the Data Graph API reduces complexity, ensures consistency, and speeds up the data enrichment process, accelerating time-to-value.
Data enrichment, the process of augmenting company data with carefully curated third-party data to improve its overall value, accuracy, and usability, is fast becoming a critical priority for organizations. This is especially true for companies looking to ensure that initiatives, such as AI and machine learning, are driven by contextually relevant data. In fact, research indicates a 22% increase in use of data enrichment as a key strategy for improving data integrity year over year. Despite this, many organizations continue to struggle with the time-consuming and often manual process of accurately integrating third-party data.
Powered by GraphQL technology, the Data Graph API dramatically simplifies data enrichment by enabling users to specify their data needs in a single query. The API filters and organizes the data before delivery, ensuring that businesses receive only the most relevant information according to their needs.
Korem, a leading expert in geospatial technologies, and design partner for the Data Graph API, are looking forward to implementing the new functionality into their solutions to support a wide range of industry use cases. "We are excited about the launch of the new Data Graph API from Precisely," said Jonathan Houde, CTO at Korem. "Instead of licensing entire datasets or making multiple web service calls, our customers can now access all the necessary information through one efficient and cost-effective service."
At the heart of the Data Graph API is the PreciselyID, which allows customers to connect addresses to a wealth of trusted data for additional insight, such as relationships between buildings, parcels, property attributes, addresses, demographics, natural perils, and more. The Data Graph API simplifies queries to the rich portfolio of Precisely connected data and can facilitate the same easy access to data from industry partners. One such partner is GeoX, an aerial image processing company that provides property intelligence data to the insurance industry. As an industry partner, GeoX integrates their property intelligence into the Data Graph API, enabling insurers to enhance risk assessments, accurately underwrite policies, and predict and prevent losses by establishing a complete, 360-degree view of residential and commercial properties.
"The launch of the Data Graph API fundamentally transforms how companies bring together data to enhance the contextual relevance of AI and advanced analytics," said Dan Adams, Senior Vice President and General Manager for Data Enrichment at Precisely. "Our data enrichment portfolio is designed to work together seamlessly, using unique identifiers to create a network of connected data where all feature relationships are mapped across datasets. As we extend this by pre-linking data from our trusted partners, the possibilities become limitless. We know this will save our customers time, allowing them to focus more on innovation rather than data preparation."
The Data Graph API and a broad range of other market-leading tools are available in the company's recently announced Precisely Data Integrity Suite Developer Portal, providing developer-friendly tools and resources to shorten the time it takes to build applications.
Learn more about the Data Graph API and how it helps customers to unlock a new world of data enrichment or register for the virtual Trust '24 event taking place October 15 – 16 to hear about the latest data integrity innovations.
About Precisely
As a global leader in data integrity, Precisely ensures that your data is accurate, consistent, and contextual. Our portfolio, including the Precisely Data Integrity Suite, helps integrate your data, improve data quality, govern data usage, geocode and analyze location data, and enrich with complementary datasets for confident business decisions. Over 12,000 organizations in more than 100 countries, including 93 of the Fortune 100, trust Precisely software, data, and strategy services to power AI, automation, and analytics initiatives. Learn more at www.precisely.com.
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SOURCE Precisely
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