LONDON, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Quantexa, the global leader in Decision Intelligence (DI) solutions for the public and private sectors, has been recognized as a Leader in the IDC MarketScape: Worldwide Decision Intelligence Platforms 2024 Vendor Assessment (doc # US51047423, August 2024). IDC defines Decision Intelligence Platforms as technology that helps organizations design, engineer, and orchestrate decisions by fully or partially automating steps in the decision-making process. The IDC MarketScape report is vital reading for technology buyers because it is one of the most rigorous and respected assessments of the emerging Decision Intelligence (DI) category. The category is expected to be worth $496 billion by 2030.1
The report noted, “Quantexa, founded in 2016, is an AI, data, and analytics software company that offers a decision intelligence platform that delivers an enterprise-scale, real-time, composable automated decisioning system with a focus on explainability and transparency. The platform leverages entity resolution and knowledge graph capabilities to create a unified view of entities and contextual features for machine learning. Quantexa also offers prepackaged solutions to add additional vertical-specific business value to the decision workflow. Users tend to fall within the banking and government sectors, however, the vendor highlighted customers within insurance, healthcare as well as technology, media, and communications verticals.”
The report also noted, “Continued investment and funding into decision-making with its core foundation in AI/ML capabilities including rolling out GenAI capabilities.”
Vishal Marria, Founder and CEO of Quantexa, said: “We believe being recognized in the IDC MarketScape reflects our dedication to innovation and the trust our customers place in us to help them use data, analytics and AI for faster and better outcomes in constantly changing, complex decision-making environments. Our mission is to empower our customers to make the right decisions with the right data to protect, optimize, and grow their organizations. Businesses and government agencies are facing mounting challenges when it comes to connecting data at scale and ensuring quality and accuracy. Being able to build a trusted data foundation is mission critical to the safe success of AI initiatives, becoming operationally efficient and creating new revenue streams - and we are providing the innovation needed to enable our customers to navigate these fronts.”
Megha Kumar, Research Principal at IDC MarketScape, added: “Quantexa's ability to integrate diverse data sources and extract meaningful insights from complex datasets using advancements in entity resolution and knowledge graphs served as a key differentiator. Their commitment to AI innovation across their platform, coupled with a strong focus on customer needs, positions them as a leader in shaping the emerging Decision Intelligence landscape.”
To read the IDC MarketScape for Worldwide Decision Intelligence Platforms excerpt, visit here.
About Quantexa
Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. An independently commissioned Forrester TEI study on Quantexa's Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has more than 750 employees and thousands of platform users working with billions of transactions and data points across the world.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and services suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.
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[1] Proprietary market data obtained by Quantexa from a commissioned Gartner study.