Data Vendors
The Praedea DEP eliminates the expense, inefficiency and
inconsistency of large, global, data-collection operations
and provides opportunities for enhanced revenue generation
through the delivery of more value-added, enriched and customized
data to end-users. Some of the many advantages that the Praedea
DEP provides data vendors include:
Substantial
Cost Savings: The Praedea DEP reduces data collection
costs and resource requirements, providing savings of up to
80%. The Praedea DEP allows you to achieve more with limited
internal technology and R&D resources.
Real-Time
Data Extraction: Upon the processing of documents with
the Praedea DEP, data can be distributed to end-user applications
almost instantaneously. Manual data collection processes and
legacy systems often require hours, days or weeks to accomplish
this task.
Universal
Data Extraction Platform: The Praedea DEP extracts
predetermined numeric figures and text from any semi-structured
electronic document – whether US or foreign, in any
language.
Scalability:
With the Praedea DEP, text-mining models in large part build
themselves after initial manual tagging, enabling the building
of models to extract thousands of terms quickly and efficiently.
Global Workflow
Efficiency: The Praedea DEP and its text-mining models
can be easily customized into existing work flow and processes
on a global basis.
All Document
Types: Documents are inserted and organized into the
Praedea DEP for data extraction from virtually any source
including SEC filings, FTP sites and internal document management
systems.
Consistent
and Accurate Data: Automated data collection utilizing
the Praedea DEP eliminates the inconsistencies and inaccuracies
associated with manual data collection processes and legacy
systems. The Praedea DEP’s text-mining models are continually
optimized for best performance. To further enhance accuracy,
the Praedea DEP’s text-mining models also apply “company-specific
memory,” the ability to recall how specific companies
report information.
Enriched Data:
The Praedea DEP allows you to deliver “enriched data”
to end-users (i.e., with audit-ability, commentary and custom
calculations) to enhance end-user applications.
Improved Quality
Control: Praedea’s data extraction process provides
for efficient quality control. Data validation occurs based
on your custom quality control rules and error-checking protocols
are run with minimal human interaction; manual overwrites
of the auto-extracted data are possible, if desired. As such
manual overwrites occur, the text-mining models are capable
of employing a self-learning refinement process to incorporate
such alterations in future data extraction processes.
Enhanced Data
Transparency: Source Links, embedded upon extraction,
provide hyperlinks from any output format (including Microsoft®
Excel) to precise locations in underlying source documents,
facilitating efficient quality control and value-added end-user
applications.
Broad Compatibility:
Built on open standards, the Praedea DEP is broadly compatible
with most server and database platforms and other software
applications. Extracted data is deposited into existing database
schemas or delivered as XML or XBRL files for easy access
and utilization. End-user applications such as Microsoft®
Excel, Microsoft® Word,
Lotus Notes® or other custom
analytic applications may be populated with the extracted
data.
Immediate
Implementation: Basic installation of and on-site training
regarding the Praedea DEP are typically completed in only
one day with minimal engineering resources. No prior programming
or text-mining experience is required. In most cases, initial
text-mining term models are functional within days, with full
automation-assisted production occurring within a month. |
