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New Venture From Lucent Technologies Offers Businesses Better Decision Making Through Data Analysis

Date:
December 8, 1997
Source:
Bell Labs - Lucent Technologies
Summary:
Lucent Technologies announced a new business venture that will offer a unique software product that uncovers and displays trends and patterns often buried in large amounts of data. Called Visual Insight, the venture will use Bell Labs software to help businesses make faster, better decisions.

MURRAY HILL, N.J. – Lucent Technologies today announced a new business venture that will offer a unique software product that uncovers and displays trends and patterns often buried in large amounts of data. Called Visual Insights, the venture will use Bell Labs software to help businesses make faster, better decisions, the company said.

One early customer of Visual Insights, AT&T, is using the software to detect unusual calling patterns in masses of telephone call data, which helps it prevent long distance toll fraud. Another customer, IBM, will incorporate Visual Insights™ software into its business intelligence solutions products for data management.

“For analyzing very large corporate data bases, one picture is worth a thousand inquiries,” said James Weichel, president of Visual Insights. “By helping managers see, in a glance, relationships and trends hidden in their corporate data, Visual Insights software is revolutionizing how data can be used to gain competitive advantage.”

Visual Insights software displays large volumes of data in an interactive, graphical format, allowing users to quickly analyze complex and expanding networked databases. In another application, for example, a consulting company has used the product to analyze and assess the impact of the year 2000 date change on its client companies’ operations.

The patented software product improves on such traditional tools as static graphs, tables, and business charts by presenting complex data in an intuitive form, using color, shape, size, motion and other visual elements to represent the data. It can significantly enhance the use of standard data analysis tools, such as spreadsheets. Visual Insights applications are also currently helping large software development groups to manage software system changes.

“Visual Insights software complements existing data-mining products in use today,” Weichel said. “Our software product makes it easier to explore and discover connections in data by supplying an interactive interface for data-mining systems.”

IBM has licensed and is exploring uses of Visual Insights software in its businessintelligence solutions. “Visual Insights software has the potential for raising our award-winning Intelligent Miner software to a new plateau, enabling customers to more quickly realize the values inherent in data mining,” said Tom Kendra, VP, data management marketing, IBM Software Solutions. “Powered by our DB2 data management software, IBM’s business intelligence solutions help companies make competitive business decisions.“

AT&T is using the product to enhance fraud detection in international long distance services. “After integrating Visual Insights software into our existing fraud detection and analysis system, we have improved our ability to find and quantify new types of fraud,” said Laura Monahan, director of Long Distance Fraud Control for AT&T.

Complete Business Solutions, Inc., an information technology services provider, has also licensed Visual Insights software. “Visual Insights has proven most useful for us to help clients quickly grasp the size and scope of the year 2000 problem at their organizations,” said Dan Rankin, VP of Technology for CBSI.

Visual Insights software combines Bell Labs work in computer graphics, statistics, human factors and computer science and allows the corporate manager to apply the resulting technology to key business problems.

“Having a visual interface to complex networks of data will help our customers make better, more informed business decisions,” said Stephen Eick, chief technical officer of the venture. “Visual Insights software will help companies solve large-scale problems involving millions of pieces of data, without the need to wade through reams of paper.”Visual Insights software for year 2000 analysis is available now. The product for enhancing systems/network efficiency will be commercially available in the first quarter of 1998. Ordering information is available at 1-800-295-3067.

Additional Information

Additional information about Visual Insights software is available on the web site, www.visualinsights.com

Visual Insights is the fifth announced Lucent Technologies business venture group. The Inferno and elemedia businesses were launched in 1996. Veridicom Inc. and Electroplating Chemicals and Services were launched in 1997.

The Inferno group markets Lucent’s new distributed network-operating system software. The elemedia (elements for multimedia) venture provides Media Plus™ software for high-quality voice, music and video over the Internet and intranets. Veridicom offers Bell Labs patented fingerprint-authentication technology in advanced software and hardware components for identification verification. Electroplating Chemicals and Services provides electroplating products and services to industrial companies worldwide.

Lucent Technologies, headquartered at Murray Hill, N.J., designs, builds, and delivers a wide range of public and private networks, communications systems and software, data networking systems, business telephone systems and microelectronic components. Bell Laboratories is its research and development arm. For further information on Lucent Technologies, visit the web site at http://www.lucent.com


Story Source:

The above story is based on materials provided by Bell Labs - Lucent Technologies. Note: Materials may be edited for content and length.


Cite This Page:

Bell Labs - Lucent Technologies. "New Venture From Lucent Technologies Offers Businesses Better Decision Making Through Data Analysis." ScienceDaily. ScienceDaily, 8 December 1997. <www.sciencedaily.com/releases/1997/12/971208170549.htm>.
Bell Labs - Lucent Technologies. (1997, December 8). New Venture From Lucent Technologies Offers Businesses Better Decision Making Through Data Analysis. ScienceDaily. Retrieved September 20, 2014 from www.sciencedaily.com/releases/1997/12/971208170549.htm
Bell Labs - Lucent Technologies. "New Venture From Lucent Technologies Offers Businesses Better Decision Making Through Data Analysis." ScienceDaily. www.sciencedaily.com/releases/1997/12/971208170549.htm (accessed September 20, 2014).

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