Created in Wellington, NZ, launched as a public beta April 2019.
Built by a team of data scientists and software engineers to make machine learning accessible to anyone with a question and some data.
Farrago gives data analysts and decision makers data science super powers. Farrago uses machine learning to automate machine learning. Your virtual team of data scientists, engineers and computer scientists, created by a human team that knows the pain of getting machine learning up and running quickly.
THE CUSTOMER PROBLEM
High performance computing is now readily accessible via cloud technology companies like Amazon Web Services (AWS), Microsoft Azure and Google Cloud. The advancement of computing hardware has made machine learning (ML) and artificial intelligence (AI) a viable option to improve profitability, reduce costs and improve customer experience across organisations of all types. The problem is that there are 50% too few data scientists to undertake the complex algorithmic tasks; impeding the speed of innovation to where it is now seen as a critical strategic challenge.
GLOBAL MARKET NEED
According to InsightsAnalytics, firms are ramping up investment in Big Data and AI to accelerate business agility. Leading companies (91.6%) are increasing the pace of their investments – 75.0% citing fear of disruption from data-driven digital competitors; 91.7% saying investment is required to transform into agile and competitive businesses; 87.8% expressing urgency to invest. Investment is increasing, with 55% of firms investing greater than $50MM.
These trends play right in to what Farrago is trying to develop: a tool that will help firms improve their capability and productivity