Yandex.Extract

2016: Testing

On December 5, 2016, it became known about the development by Yandex of a paid service for business "Extract." The company hopes for interest in the project from banks, retailers, consulting and research companies, the Kommersant newspaper reports.

"Extract," created in the Yandex Data Factory (YDF) division based on machine learning technologies, is designed to find and monitor information for business.

Organizations often need to find all available information in a specific area. For example, a consulting firm may be interested in all publications about the investments of Chinese companies in Australia, - Sergey Vavinov, technical director of YDF, told the publication.

Yandex has developed a paid search engine for the Extract business

First of all, the service is designed for analysts of companies from the banking sector to retail, as well as employees of research and consulting organizations. According to Kommersant, by early December 2016, Extract was being tested at the Central Bank of the Russian Federation.

The product is at the beta testing stage, following which it is planned to form a price list. Yandex intends to charge a fee depending on the number of monitoring topics, the frequency of uploading updates and other factors.

According to Svyaznoy spokesman Sergei Tikhonov, the most interesting data for business are not public information, but closed sources, such as news available only by subscription, and research that opens only after registration. It is not clear how the service will interact with this kind of information, he says.

At the same time, Tikhonov admits that the service can be useful for companies operating in a competitive environment, where information about the market and the actions of other players becomes part of the decision-making process - for example, in retail, telecommunications, logistics.^[1]

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