Let Me Share Why We Built Gadfly
In its 2020 report on Text Analytics, Gartner has highlighted the importance of unstructured data and analytics in improving information-led outcomes. For companies looking to leverage data analytics, a significant challenge is that 80-90% of enterprise data is in an unstructured format.
With the growing proliferation of social media platforms and consumer data, by some estimates, as the volume of business data explodes over the next few years, over 80% of the data will continue to be unstructured. Hence decision-makers must look beyond the familiar and understand the immense potential of unstructured data.
As a Big Data and Analytics company, Ellicium has enabled its customers to leverage valuable insights from its data assets, including unstructured data. Based on our experience of working on solutions with unstructured data, it became apparent that there was an opportunity to change how companies tapped this hitherto untapped resource.
Gadfly was built to make it easier to manage and analyze unstructured data for greater impact.
Why did we go ahead and build the Gadfly Big Data framework? Let me share in the following sections.
What does the Gadfly accelerator offer?
Essentially, the Gadfly framework from Ellicium is a platform used for the management and analytics of unstructured data. Based on Hadoop, Python, and Spark, Gadfly is a data ingestion engine that consumes data from a wide variety of unstructured data sources including websites, legal and contractual documents, social media data, email exchanges, customer interactions, and multilingual text.
Just like the gadfly of the insect world, the term ‘gadfly’ of the human world is anyone who challenges the status quo of our society by posing challenging questions. For this reason, we position this solution as the “gadfly” of the data world.
What does the Ellicium Gadfly accelerator offer our business customers? It can:
- Analyze unstructured data generated from human interactions.
- Extract relevant data insights.
- Present the insights as business intelligence (BI).
Next, let us look at the various business benefits customers using the Gadfly accelerator get from the text analytics capability.
Gadfly – Business benefits
While 85% of business data is unstructured, over 90% of unstructured data is in textual form. Out of this, only 20% of the data has been analyzed. Some of the common textual data that we see include:
- News-related information
- Email messages
- Medical prescriptions
- Legal cases and documents
- Resumes on online job portals
Effective text analytics is all about aggregating textual data to obtain valuable insights. Here are some of the business benefits of using the Gadfly accelerator in Big Data analytics:
- Defining the implementation roadmap and governance policies for leveraging unstructured data.
- Improving the ROI on Big Data initiatives in the organization.
- Improving the efficiency and performance of Big Data systems.
- Implementing an efficient security framework for Big Data systems.
- Gaining the necessary technical skills in Big Data solutions.
- Classifying documents into various categories of legal or financial documents.
- Extracting relevant topics from a large collection of documents.
- Extracting customer sentiments and other insights using unstructured text analytics.
- Providing early signals of impending events from online web chatter.
Why did we go ahead and build the Gadfly accelerator framework? Let us discuss that next.
Why did we build Gadfly?
With the growing access to Big Data technologies, there is an emphasis on efficient management and analytics of Big Data for business enterprises. To meet this industry need, the Ellicium team designed and developed the Gadfly accelerator solution. Gadfly leverages powerful capabilities in Artificial Intelligence (AI) and Machine Learning for the efficient management of large volumes of unstructured data.
As mentioned by our CTO Yogesh Kulkarni, “Ellicium is working towards being a complete big data solutions company with solutions right from need identification, solution design to infrastructure support.” The Gadfly accelerator has helped us progress towards this target.
With its user-friendly drag-and-drop designer tool, Gadfly allows business users to design a customized text processing workflow suited for their business needs. A leading Chicago-based legal services firm recently used Gadfly to automate its business processes and process large volumes of unstructured legal data. Some of the key benefits of implementing Gadfly included over $1 million in savings in process costs (over two years) and achieving a process accuracy of 98%.
Here is a Gadfly tale to show the impact.
Partnering with OmnesLaw
Ellicium has worked with legal technology and consulting firm OmnesLaw. OmnesLaw provides legal services in the field of contract lifecycle management, legal research, and legal regulatory compliance.
The partnership involves the use of the Gadfly platform to build technology solutions in AI and Robotic Process Automation (RPA) for the legal industry. The two companies will help law firms build “intelligent” apps that can be used for abstracting legal contracts and categorizing legal documents on the Gadfly platform.
Speaking of the partnership, Anurag Gupta of OmnesLaw said that he is “gratified to announce this partnership with Ellicium. This will accelerate our go-to-market product strategy for contract management and legal research.”
Yogesh Kulkarni of Ellicium talked about OmnesLaw having “deep relationships with law firms and corporate legal departments.” He added that “we are pleased to work with OmnesLaw to provide our current and prospective customers additional solutions in the legal domain.”
As a platform for text analytics, the Gadfly accelerator from Ellicium Solutions is capable of ingesting and monetizing unstructured data from social media platforms, legal contracts, business documents, and many more sources. Here are some of our other customer success stories that show why organizations trust our Big Data and Analytics solutions.
You can also start your data journey using Gadfly today! Contact us today!