Cortical.io > Case Studies > How a large US publisher accelerated the RFP process while gaining key market insights

How a large US publisher accelerated the RFP process while gaining key market insights

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Company Size
1,000+
Region
  • America
Country
  • United States
Product
  • SemanticPro Extract & Analyze
Tech Stack
  • Machine Learning
  • Natural Language Processing
Implementation Scale
  • Enterprise-wide Deployment
Impact Metrics
  • Productivity Improvements
  • Revenue Growth
Technology Category
  • Analytics & Modeling - Machine Learning
  • Analytics & Modeling - Natural Language Processing (NLP)
Applicable Functions
  • Sales & Marketing
Use Cases
  • Automated Disease Diagnosis
Services
  • Data Science Services
About The Customer
The customer is a large US-based media conglomerate that owns more than 40 publications. They work with different agencies to sell advertising spaces and receive approximately 100 requests per week, corresponding to about 5,000 messages per year and double as many attachments. These Requests for Proposals (RFPs) need to be classified depending on criteria like vertical market or target audience before being directed to the appropriate department. The company was looking for a solution to automate this process while maintaining an acceptable level of accuracy.
The Challenge
The media company, owning more than 40 publications, was receiving approximately 100 requests per week, corresponding to about 5,000 messages per year and double as many attachments. These Requests for Proposals (RFPs) needed to be classified depending on criteria like vertical market or target audience before being directed to the appropriate department. The challenge was that the RFPs were highly unstructured documents, coming in various formats like email body text or attachments in Word or Powerpoint. The extraction targets were very diverse and, in most cases, with very little context to learn from, making it difficult for state-of-art machine learning systems to deliver satisfactory results.
The Solution
The company implemented SemanticPro Extract & Analyze, a solution developed by Cortical.io that automatically extracts, reviews, and analyzes key data from requests with a high level of precision. This solution is able to handle short texts without punctuation even with little to no context, as well as different document types like Word, Excel, or Powerpoint. The solution has been successfully trained to recognize very diverse extraction targets like “Campaign name”, “Client” and “Agency”, as well as very specific vocabulary, like “type of ad products“. Extraction results are seamlessly exported in different formats or databases, as preferred by the user. After the production phase is completed, the company envisions to implement a classification and routing solution to route the inbound emails to the appropriate departments.
Operational Impact
  • The company was able to respond more timely to requests, an increase in responsiveness that typically leads to a higher deal close rate.
  • The solution is also delivering critical insights about trends and market shifts which helps the Sales team adapt their product strategy and better assess business risks and opportunities.
  • The company was able to automatically extract a dozen attributes from RFPs, including due date, size of opportunity, vertical market, campaign timeframe, type of campaign, target audience, what is being targeted, etc.
  • The solution was able to resolve the problem of missing punctuation by inferring the expected punctuation based on features like words location and capitalization.
  • The company was able to filter documents below a certain confidence threshold that necessitate human review.
Quantitative Benefit
  • The company was able to automatically extract a dozen attributes from RFPs.
  • The solution was able to perform these extractions with an accuracy higher than with other machine learning-based approaches.

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