Domino Data Lab Announces Domino 3.0 to Power Model-Driven Organizations

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According to a new press release, “Domino Data Lab, provider of an open data science platform, today announced Domino 3.0 featuring Domino Launchpad, a module designed to help companies maximize the impact of their data science investments by addressing the operational challenges and bottlenecks they face getting models into production. ‘Following the introduction of the Model Management framework at the Rev summit for data science leaders earlier this year, we’re delivering on our promise to provide a platform that allows organizations to put predictive and machine learning models at the heart of their business,’ said Nick Elprin, co-founder and CEO at Domino. ‘Domino 3.0 tackles model operations challenges surrounding model delivery and ongoing iterations of production models. By streamlining the model deployment process and facilitating faster, easier iterations throughout the model management cycle, the latest Domino functionality helps data science leaders ensure that their investments in data science are yielding tangible business impact’.”

The release continues, “Despite the massive investment in artificial intelligence (AI) and data science, most organizations have been unable to see significant return. A recent BCG and MIT Sloan survey found that nearly 85 percent of the executives surveyed believe AI will offer their organization a competitive advantage, yet only five percent of companies extensively utilize AI models in their business. ‘Many data science investments fail because it’s extremely hard for companies to get models beyond their data science teams and into production,’ stated Krishna Roy, senior analyst, Data Science & Analytics at 451 Research. ‘Organizations will continue to struggle to deliver business impact with data science if they don’t close the gap that exists between IT and DevOps teams responsible for data science production environments, data scientists building models, and end users and other business stakeholders involved in model creation and use’.”

Read more at Globe Newswire.

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