Overview:
Today, the amount of data we are generating, collecting, storing, managing, and analyzing is growing exponentially. However, while data modelling solutions are plenty, transforming data into value, i.e. accurate & meaningful insights in real-time, is challenging and expensive due to the data-first approach. FORMCEPT has built MECBot as a business-first, end-to-end, augmented data management platform for businesses of all sizes and industries to solve this mission-critical problem. MECBot enables seamless access and sharing of data in a distributed data environment. Through its unified and consistent data management framework, seamless data access and processing happens by design, in a trusted manner.
Inspiration to start FORMCEPT: Current Data Analytics and Data Management solutions are broken and need a change. Though we see lots of Open Source solutions available for Data Management and AI/ML/DL modelling, the Gartner June 2019 survey shows that only 1 in 4 data projects are successful. One of the reasons for such a dismal failure rate is the “Data-First Approach” which is based on the error-prone, per-project data pipeline, needs to be coded by expensive Data Engineers, and hence, is neither reliable nor replicable. Due to this, downstream consumers like Data Scientists and Decision-Makers do not trust the data they get their hands on. Secondly, today’s real-world data is richly interconnected, but current Relational Databases do not treat data relationships as first-class citizens. As a result, companies lack the appropriate data context. Thirdly, a huge amount of time and money is spent on Data Preprocessing and making the AI/ML/DL models run at scale (ML Operations). While solving these issues, our market analysis showed that Small and Medium enterprises also wanted to make data-driven decisions but did not have the right tools to do so. It is expensive and outside their core business focus to hire Data Engineers and Data Scientists.
The above three challenges were the guiding principles for us to start FORMCEPT and design MECBot as an end-to-end data management platform that democratizes analytics and makes it accessible not only to large businesses but also to small and medium enterprises. At its core, MECBot captures all forms of data and organizes the data as per the business domain and contextualizes it as per the business interest instead of taking a capture-all and figure-out-later approach (Data-First approach).
Partner Program Description:
1) Partner First approach
2) Partners can substantially differentiate themselves from the competition
-- Solve fundamental, ubiquitous issues with disparate forms of data, which are very difficult to query
-- Provide a much faster path to Application deployment
-- Be the expert on new use cases enabled by Mecbot’s technology – Knowledge Graph, Unstructured data, Text Analytics etc.
3) Partners can focus on Applications / Analytics, and business value / results
4) Partners have a “sticky” platform, to continue adding value
-- New use cases enabled by Mecbot’s technology
-- Addition of new data sources + relationships
-- Resources / Projects for high value-add Applications / Analytics / Visualizations