Media intelligence provider Meltwater has bolstered its data analytics offerings and machine learning engine with the acquisition of Cosmify.

Cosmify is a knowledge discovery platform that uses advanced machine learning technology for in-depth analysis of corporate data sets.

Its technology will help Meltwater’s industry platform intelligently manage the vast amounts of data from multiple sources that businesses need to make competitive decisions based on insights from the outside.

Meltwater founder and CEO Jorn Lyseggen said: “The best business decisions are based on forward-looking data. Today, external data on the open internet is one of the most important sources for forward-looking information.

“Cosmify’s advanced discovery, clustering, and classification capabilities will enhance Meltwater’s ability to connect the dots between a wide range of data types from internal and external data, and ultimately help business leaders make more informed decisions.”

Aditya Jami, senior director of engineering and head of AI at Meltwater, added: “Cosmify’s knowledge discovery engine analyses customers’ very large and dynamic data lakes to produce vectorised information, and when fed into our existing data science platform, automates generation of highly-customised outside insights – all without having to import their internal data into our systems.”

Eugene Ciurana, founder and CEO of Cosmify, said 95 per cent of all data is unstructured and unwieldy, but it also contains a vast trove of unexploited value.

“Our unsupervised learning system extracts knowledge from internal and external, unstructured data sources like PDFs, free-text, spreadsheets, media files, presentations, cloud drives, calendars, or chat systems – most often hitting on valuable information nuggets that eluded the very users who produced them,” he said.

The acquisition of Cosmify comes on the heels of several key acquisitions for Meltwater that have broadened its global footprint and cemented the company’s commitment to data science and machine learning.

Meltwater recently announced its plans to acquire Canada’s Infomart, followed closely by Hong Kong-based social big data SaaS solution Klarity.

Earlier this year, it acquired Oxford University spinout Wrapidity to add AI-based crawling to Meltwater’s platform, and last year Meltwater acquired Encore Alert, a US-based data science-driven media monitoring company.