This year at Finovate, Ephesoft announced their newest technology—Ephesoft Universe. By mining documents it stores information that can be charted, graphed, studied, and compared to help users make better financial decisions.
In the example laid out in their presentation, Ike Kavas and Tim Dubes of Ephesoft, show how Universe functions between the manager of a real estate investment trust portfolio and the mortgage department of a large bank. This bank is putting together a bundle of hundreds of single-family homes in Virginia that and the investor needs to determine if it’s a solid choice for them. Universe provides powerful insight to the package through the data visualization screen which shows the properties in the portfolio compared to other properties in the area. There is also an option to overlay the new properties against existing portfolios and then run analytics against it.
So what’s special about this? Universe is not template based, the information is being captured through fuzzy logic and contextual information. It is the first application to leverage big data tools like Hadoop and Spark to classify documents and extract meaning from them, allowing companies to incorporate unstructured data into decision making processes. Ephesoft Universe takes access to, and manipulation of, these vast information streams out of the hands of data scientists and onto the desks of business and financial analysts.
Watch the full presentation here.