Palo Alto, CA, April 14, 2015 (GLOBE NEWSWIRE) -- PARC, a Xerox company, today expanded the scope of its partnership with LeanTaaS Inc., an analytics company, to integrate PARC's advanced algorithms with LeanTaaS's VIA platform. This partnership enables large enterprises in healthcare, technology, retail, and financial services to accelerate improvements in their operational and financial performance. PARC has decades of experience in developing sophisticated models that apply machine learning algorithms to large data sets, and now enterprises can access this expertise through SaaS applications built on the LeanTaaS VIA platform.
"Many large companies realize the need to go far beyond data integration and dashboards - while the visibility and self-serve aspects are necessary, they are not sufficient for creating a competitive advantage," said Mohan Giridharadas, CEO, LeanTaaS. "PARC's software provides us the ability to identify anomalies, detect patterns and use machine learning methods to continuously and automatically generate superior insights for our clients. The more data there is, the more intelligent the systems become, ultimately giving our clients the ability to make better operational decisions at scale across the enterprise."
Last year, PARC and LeanTaaS worked together to deploy myPatientPulse, a software-as-a-service application aimed at improving the patient experience by extracting insights, themes and sentiments from the vast amounts of unstructured feedback from surveys, rounding notes and social media posts. myPatientPulse was built by embedding PARC's "EMPATH" software into the LeanTaaS VIA platform in a few short months. EMPATH is a sentiment engine that uses supervised machine learning by combining intelligent software with human-in-the-loop training to deliver accuracy rates up to 90%, higher than lexicon-based systems that only look at language. The application is intuitive to users, accessible from any browser and is in the final stages of a beta program with one of the leading academic medical centers in the United States and will be expanded to other healthcare providers in 2015.
"PARC is happy to partner with LeanTaaS in offering retailers, healthcare providers and financial enterprises the ability to gain valuable insights from their data in order to improve critical business processes," said Raj Minhas, Vice President of PARC's Interaction and Analytics Lab. "PARC's algorithms bolster the VIA platform with a variety of features and supply customers with additional options to gather intelligence, make informed decisions, and take action to improve operational performance."
Examples of algorithms under consideration for integration into the LeanTaaS VIA platform include real-time recommendation engines to guide retailers into making better pricing and promotion decisions, and anomaly detection to identify fraud, waste and abuse in warranty claims and prescription medications.
PARC's Strategic Alliances Program works closely with strategic partners to help develop business models and innovation solutions to broaden audiences and build relationships that ultimately help customers take advantage of innovative technologies including content-centric networking, printed electronics, design and digital manufacturing, big data, contextual intelligence, health and wellness, and more.
About PARC
PARC, a Xerox company, is in the Business of Breakthroughs®.
Practicing open innovation, we provide custom R&D services,
technology, expertise, best practices, and intellectual property to
Fortune 500 and Global 1000 companies, startups, and government
agencies and partners. We create new business options, accelerate
time to market, augment internal capabilities, and reduce risk for
our clients. Since its inception, PARC has pioneered many
technology platforms - from the Ethernet and laser printing to the
GUI and ubiquitous computing - and has enabled the creation of many
industries. Incorporated as an independent, wholly owned subsidiary
of Xerox in 2002, PARC today continues the research that enables
breakthroughs for our clients' businesses.
About LeanTaaS
LeanTaaS is a 5 year-old Silicon Valley software company that
delivers advanced analytics solutions and products to leading
companies across a variety of sectors including healthcare,
technology, retail and financial services. LeanTaaS has
developed an innovative analytics platform - VIA which stands for
Visibility, Insight and Action - that enables the company to
rapidly create targeted analytic solutions that combine
operational, data science and software expertise to solve complex
operational problems for its clients.