It’s all about the data today. According to a recent Greenwich Associates study, about three-quarters of capital markets professionals believe data analysis will be the most valued skill for trading desks within five years. As a result, 85% of them expect to bolster spending on data management technology in the coming years. The same can be expected in most other industries as well, where access to vast amounts of information is creating a data flood impossible to navigate without the right technology. The healthcare, retail, hospitality, and all other markets are seeing this data deluge hit them, and while businesses may be aware of this, having the right technology to handle it is another story.
That includes data collection, mining, and analytics capabilities and, more recently artificial intelligence to automate as much of the process as possible. Part of the AI component today is natural language generation (NLG), which uses AI to generate data-based, contextual narrative.
Maistering, which develops AI applications for enterprises, has announced it is integrating Arria NLG’s technology into its Master Collections portfolio. Maistering was looking to increase the value of its CXO Orchestration suite, Master Collections, which is designed to help business leaders run more effective operations through AI-driven insights. Arria NLG Studio 3.0, the latest iteration of its natural language platform, combines advanced language analytics with computational linguistics to narrate and add context to any data.
With Arria NLG’s technology, Maistering is able to automate generation of reports – from P&L statements to executive summaries – giving executives faster access to data-driven organizational insight to run their businesses. NLG condenses the time between data collection and reporting by automating data analytics, identifying important information, creating narratives with the results, then generating audio or text files for delivery. According to Arria, its reports are indistinguishable from human-authored reports – aside from the time it takes to generate them.
“Successful enterprises need ready-access insights that are as comprehensive as they are understandable,” said Arria NLG CEO Sharon Daniels. “With Arria NLG Studio, executives do not have to wait days or months for actionable insights that can improve organizational efficiency and profitability.”
For Maistering and its customers, the ability to condense the custom report and narrative creation from hours or even days to minutes add substantial value. By giving near-instant access to data-driven analytics and contextual narratives, Maistering lets its customers act on its data much more rapidly than ever before, giving them a competitive edge in their markets.
“From the very beginning, we recognized that to provide substantive value to our niche audience, we needed the ability to convert large amounts of data and numeric information into simple and short narratives that can be consumed on-the-go, via text or voice,” said Maistering CEO, John Brahim. “Arria NLG complements data visuals with written narratives containing contextual analysis that convey data’s full story.”
With every business looking to leverage AI for its data collection and analytics, the ability to save time in report generation can be a competitive differentiator for any executive. With Arria NLG’s technology, Maistering gives its customers a heads start – while also reducing human error in the reporting process.
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