A recent press release states, “Alteryx, Inc., revolutionizing business through data science and analytics, today announced that it has acquired Feature Labs, a data science software company launched out of Massachusetts Institute of Technology (MIT) that automates feature engineering for machine learning and artificial intelligence (AI) applications. The acquisition of Feature Labs will further enable Alteryx to help organizations empower every data worker to fill the data science and machine learning talent gap. Alteryx puts insights from advanced analytics and machine learning—once only available to statisticians and quants—into the hands of more data workers across the enterprise. ‘Gartner predicts that, by 2020, more than 40% of data science tasks will be automated, resulting in increased productivity and broader use by citizen data scientists’.”
The release goes on, “Feature Labs’ feature engineering capabilities, combined with the ease of use of the Alteryx Platform, creates an environment that further accelerates time-to-insight and time-to-value for analysts and data scientists alike. As part of their research at MIT’s Computer Science and AI Lab, Feature Labs co-founders, Max Kanter and Kalyan Veeramachaneni, developed an innovative set of algorithms to optimize the manual, time-consuming and error-prone process required to build machine learning models. In addition to automating the model fitting and hyper-parameter tuning process, Feature Labs’ differentiated platform automates the feature engineering and data prep process, resulting in significant increases in model accuracy and overall process efficiency.”
Read more at PR Newswire.
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