WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Fluree, provider of an immutable semantic graph data platform, today announced a technical partnership with Lead Semantics to provide a fully integrated solution, TextDistil, for enterprise data management teams looking to build semantic-capable, secure data fabrics. A key area of focus for the integrated solution includes highly regulated industries, with a greater magnitude and scope of requirements needed to prove compliance, including fintech, banking, insurance and the public sector, among others.
Lead Semantics’ natural language processing (NLP) technology, powered by Fluree’s semantic graph database, will help convert unstructured data assets (including text) into semantic-capable enterprise knowledge. With TextDistil, Lead Semantics and Fluree are essentially bringing unstructured data into the structured context of businesses’ respective operational transactional worlds with security, traceability, and audit-capabilities provided by Fluree’s immutable ledger.
"Text to knowledge is the new frontier in building comprehensive enterprise data fabrics. While most organizations have wrangled structured or semi-structured data into a centralized data platform, unstructured data remains forgotten and underleveraged,” said Brian Platz, Co-founder and Co-CEO of Fluree. “Within the confines of unstructured data may lie the cure for a rare disease, an audit trail of customer interactions for regulatory bodies, or the key to a previously unsolvable business logistics challenge. We are proud to provide the semantic graph database backing the TextDistil initiative, bringing trust, traceability, and interoperability to enterprise unstructured information."
New data (both structured and unstructured) is being created at a seemingly insurmountable clip. IDC has predicted the Global Datasphere will grow from 33 zettabytes in 2018 to 175 zettabytes in 2025 — that’s more than five times as much data available which needs to be protected and ideally codified and analyzed, within just a few short years, and the numbers are growing. Unstructured data is estimated to make up 80 percent of all data and must not be overlooked. The business value of codifying and analyzing these data points is still not yet fully realized for most businesses, as this data can and should be leveraged as part of a company’s data fabric strategy.
TextDistil addresses the current market interest in text and knowledge graphs -- turning text into data that provides context to support immutable transactions. Fluree brings trust and security to that data, which mitigates risk and extends data governance into unstructured enterprise information. The previously unstructured data becomes fully auditable with Fluree in addition to being secured, and is piped into a W3C-standard format for enterprise data fabrics.
Fluree was selected by Lead Semantics because it is the only permissioned trust based ledger database that has semantic underpinnings for integration to enable connected data insights and standard semantic querying. TextDistil, through its automated knowledge extraction, extends high fidelity tracing back to the source natural language text to provide governing context and auspices to the transactions that are recorded in the Fluree Ledger database. This thereby seamlessly enhances the automated audit trail to mitigate risk while improving data provenance.
Key benefits include the following:
- With TextDistil, free text becomes yet another stable source of data with 'structure' much like data from a relational database in an enterprise. This newly structured data can be extremely valuable from a research and development standpoint: for example, a data scientist may be able to uncover an entirely new data set to better tailor its product or solution to its customers’ needs.
- Fluree’s trusted ledger, integrated with TextDistil, can introduce new levels of automation to virtually every department of a modern enterprise, particularly in more highly regulated areas as previously noted, such as finance, legal affairs and human resources, as well as for project management activities. With the Fluree technology integration, companies using TextDistil will have secure and provable data, which is audit-friendly and can wrap legal contracts or business agreements with blockchain-grade traceability.
- Both follow standards-based data semantics, making them easily integratable. On the output side, TextDistil encodes text into knowledge according to a domain ontology. Thus, W3C semantic standards compliant knowledge-facts (RDF triples) are output to be loaded into Fluree Database enabling automatic semantic integration and standard SPARQL querying.
“Text as a source of knowledge and information is fundamental yet there aren’t any end-to-end solutions that tame the complexity in handling text,” said Prasad Yalamanchi, Founder, CEO of Lead Semantics. “Extracting value from text assets is a top priority problem to solve while trusted Ledger Databases have gained enterprise acceptance. With an integrated tool to harness Text for all its embedded information and knowledge, a trusted Ledger Database will be very attractive to businesses.”
To see a demo of TextDistil from Fluree and Lead Semantics, attend the upcoming launch webinar, set for Wednesday, July 28. To find out more about TextDistil, visit https://leadsemantics.com/site/platform.html#textdistil.
Founded in 2016 by Brian Platz and Flip Filipowski, Fluree PBC is headquartered in Winston-Salem, North Carolina. Fluree is pioneering a data-first technology approach with its data management platform. For more information, follow Fluree on Twitter or LinkedIn, or visit flur.ee.
About Lead Semantics
NLP and Semantic Graph startup, Lead Semantics is headquartered in Chapel Hill, North Carolina. Lead Semantics develops and markets TextDistil, a Rule based Neural Language Pipeline that automates end-to-end extraction of Knowledge and Information buried in Text assets in the enterprise. For more information visit leadsemantics.com or email firstname.lastname@example.org.