Frost & Sullivan bestowed the 2014 “Data Analysis Platforms” Award to FORMCEPT Technologies & Solutions (“FORMCEPT”) in the New Product Innovation Leadership category. The Award was presented to Mr. Suresh Srinivasan and Anuj Kumar, Founders, FORMCEPT at Frost & Sullivan’s annual Growth, Innovation and Leadership Executive Congress (GIL 2014: India) at the Taj Hotel in Mumbai on 23rd September, 2014.
Organizations across the globe operate with distributed information sources. With a diverse range of repositories, various data types, and discreet external sources of data, enterprises are finding it difficult to derive business intelligence. In order to address these issues, FORMCEPT provides a Unified Data Analysis platform that is capable of processing data more effectively and helps to reduce the development time of cognitive data-driven applications for customers. FORMCEPT's solution has the potential to reduce time, and over 80 percent of cost organizations spend on the pre-processing stage of data before actually leveraging the benefits of application analytics.
Frost & Sullivan’s New Product Innovation Leadership award for “Data Analysis Platforms” is bestowed upon the organization that demonstrates exemplary best practices under the following major performance criteria, which were used to benchmark the New Product Innovation Leadership Award:
- Criterion 1: New Product Attributes
- Criterion 2: Customer Impact
Frost & Sullivan evaluated the key challenges in a majority of data-driven applications available in the market for enterprises and identified major solution providers in the Indian market. Analyzing the innovations from each shortlisted nomination and based on ratings for the above mentioned criteria and sub-criteria, Frost & Sullivan presented this prestigious award to FORMCEPT Technologies & Solutions, for its cutting-edge solution.
Mr. Anand S, Senior Director, Frost & Sullivan, said, “To achieve a leadership position on a newly launched product is an arduous task. The challenge is made even more difficult due to today’s competitive intensity, customer volatility, and economic uncertainty keeping in mind the difficulty of innovating in an environment of escalating challenges to intellectual property. Within this context, Frost & Sullivan is pleased to recognize FORMCEPT as the recipient of this prestigious award.”
Mr. Suresh Srinivasan, Co-founder, FORMCEPT said “It is a great honor and privilege to receive this prestigious New Product Innovation Leadership Award for “Data Analysis Platforms” from Frost & Sullivan. Our goal is to commoditize data analysis within an enterprise by simplifying data pre-processing efforts. This award indeed validates our beliefs and motivates us to work even harder to make our platform – the data analysis platform of choice in the global market.”
Lack of capability to unify various data sets often transfers unidentified data into the “dark data” repositories of an organization. This creates a huge gap in analysis as no insights can be derived from those stored data sets through the analytics application layer. Having identified the lack of a pre-processing stage in conventional data analysis platforms, FORMCEPT has uniquely positioned its hardware independent solution as one that unifies data sources through its Unified Data Analysis platform, which significantly reduce deployment cost and time for its end users.
About Frost & Sullivan
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About FORMCEPT Technologies & Solutions
FORMCEPT is a Unified Data Analysis platform that helps Enterprises to get actionable insights from their data faster, thereby, significantly reducing the time taken to convert data into decisions. The platform not only reduces your entire data pre-processing time, but also help you derive insights faster using the pre-packaged processing and predictive models for textual and statistical data analysis.
FORMCEPT provides a unified interface for storing and querying datasets which supports batch processing, stream processing and interactive analysis out of the box. It is built on top of NoSQL technologies, like- HDFS, HBase for storage, systems like Map-Reduce, Spark, Shark and Storm for data processing and utilizes the power of graph database, key-value store and index store to provide a seamless experience for the end users. Customers can kick-start their “Big Data” Applications using APIs without worrying about the underlying complexity.
To know more about FORMCEPT and how it can help monetize your data, please visit www.formcept.com