Startup City Magazine

FORMCEPT: Digital Robot to the Rescue

CIO Vendor The volume of data that businesses generate is becoming unwieldy and this data consists of both structured and un-structured data in the form of emails, blogs, live chat, or case notes. There are new technologies that cropped to handle this huge amount of data, but time and cost to derive meaningful insights is still far fetched. The key challenge is to handle these unstructured data which constitutes about 80-96 percent data across various touch points processing it requires right technologies. Converting these structured and unstructured data into valuable insights could work in the favor of organizations to take an informed decision that would result in profitability and improved quality of services.

FORMCEPT, a Bangalore based company that has developed a digitized robot named MECBOT which automates enterprises data to insights process flow at ease, so that rich insights can be delivered to the right people at right time in a repeated and consistent manner.

MECBOT– based on Machine Learning, AI and Deep Learning Algorithms uses combination of technology to learn the flow of data once, process it and delivers rich insights to the right people at the right time. MECBOT uses FactorDB, powerful Semantic Data Reservoir for unification of various data that comes at various speeds, removes noise and make the data available for analysis. Once the data is pre-processed and semantically enriched based on the domain, MECBOT enables users to create quickly models through its Wisdom, without worrying about the scale.

“Typically a production quality Big Data application, as per the industry standards, take seight to twelve months to develop. And for each applications to develop you need a team of people to work on all phases of data to insight life cycle. With the help of MECBOT, enterprises can develop production quality cognitive application that can handle large data volumes of varied

shapes in less than 3 months,” speaks Suresh Srinivasan, Co-Founder, FORMCEPT.

Easy Drag and Drop Solution

MECBOT as a first step creates Smart Data Reservoir by unifying data across different sources, pre-process it semantically, harmonizes and applies contextual enrichment on the data. With Smart Data Reservoir, Data Scientists, Data Analyst or Citizen Data Scientists can explore the data through APIs or through SQL or through “powerful free form search” and also can do some basic statistics or feature engineering by few clicks. As MECBOT already pre-processed the data, the Data Scientists has more time to focus on solving business problem,thereby more data driven decisions can be taken in real time by CXOs. Further explaining Suresh adds, “The Data Scientists need not have to learn any coding or know the nuance about data operations tasks. All they have to do is drag and drop the algorithms and choose the best performing algorithms for their data in hand to build data driven insights or Next best actions.”

Developing Faster Cognitive Application

Known for generating real time decision making solution to its clients, MECBOT carves a niche for itself for being one of a kind platform. Showing their presence, FORMCEPT’s product has been used across various segments, few of which include peripheral banking solution, where the data insight provided by MECBOT is used to deliver satisfying customer relationships.

MECBOT is known for generating real time decision making solution to its client

Furthermore, FORMCEPT has partnered with companies in BFSI and Media, and developed jointly solutions around ATM Cash forecasting, ATM transaction analytics, Survey Data Analytics, CPG/FMCG data analysis and few more. “We are currently focused on selected markets, and have partnered with various companies providing them the right technology solution; this alone will drive us through the market and deliver it to our end customers. We are passionate on applying data analytics, AI, Deep Learning Algorithms, and Machine Learning Algorithms to our clients’ data. So, our clients get a meaningful data driven insights that help them improve their bottom line business,” concludes Suresh.