Onica, a Rackspace Technology Company, and PipeSearch, a Global Tubular Supply Chain Platform

Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) announced an enhanced partnership with PipeSearch, a software company focused on the global pipe industry. The collaboration aims to bring advanced data modernization and machine learning capabilities to streamline inventory management processes. PipeSearch will utilize a machine learning model developed by Onica to normalize inventory data, achieving over 80% confidence in results within just one week. This innovative solution is expected to facilitate better market insights and operational efficiencies for customers in the pipe industry.

Positive

• Collaboration with PipeSearch enhances Rackspace's service offerings in data modernization and machine learning.
• Machine learning model achieved over 80% results confidence in one week, indicating high effectiveness.
• Expected improvements in customer insights and operational efficiency for PipeSearch clients.

Negative

• None.

SAN ANTONIO, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Onica, a Rackspace Technology™ (NASDAQ: RXT) company, Premier Consulting Partner in the Amazon Web Services (AWS) Partner Network (APN) and audited AWS Managed Service Provider, today announced it has brought expanded data modernization and machine learning capabilities to PipeSearch, a U.S.-based software company that connects and supports the global pipe industry. Rackspace Technology aided PipeSearch’s efforts to revolutionize the pipe industry with a modern supply chain solution.

The global tubular supply chain is powered by silos of information living in multiple multi-national organizations. Even within a single company, inventory information is stored in many places, in various formats. To better understand what is on the ground at any time, PipeSearch needed to standardized inventory data and be able to ingest it in various formats and at scale. To fill this gap, PipeSearch needed a skilled, experienced partner that could understand the necessary machine learning requirements to create an innovative solution.

PipeSearch selected Onica to together build a machine learning model that would identify and normalize specific attributes and descriptors for different inventory items, streamlining inventory identification from its previously unstructured state. In one week, the machine learning model achieved over 80% results confidence and helped PipeSearch expand its platform capabilities, providing customers a better understanding of market options for steel pipe beyond the mills.

“The Onica team was incredibly collaborative and the company’s expertise in machine learning and data analytics helped us simplify the difficult problem of normalizing non-standard raw inventory data,” said Briggs Thompson, co-founder of PipeSearch. “Using a combination of an agile approach with sprints and common tools, Onica helped us stay on track and delivered a successful solution.”

The Onica team leveraged their expertise to design a data flow plan and extract data to be fed into a searchable database and provide normalized descriptions, allowing easy access to customers. The solution also allowed the team to identify data it was unsure about, which was then used to retrain the model, further strengthening results.

“We are proud to work with PipeSearch to expand their platform capabilities and create a solution with a transformative impact on the global pipe industry,” said Tolga Tarhan, CTO, Rackspace Technology. “The project is truly a testament to the impact of machine learning services, such as Amazon SageMaker. We look forward to seeing PipeSearch customers continue to achieve time and cost savings through the platform.”

To learn more about Onica’s machine learning capabilities, please visit https://onica.com/services/ai-machine-learning/.

About Rackspace Technology
Rackspace Technology is a leading end-to-end multicloud technology services company. We can design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.

About Onica
Onica is a global cloud native services provider at the forefront of cloud computing. As a Premier Consulting Partner in the Amazon Web Services (AWS) Partner Network (APN) and audited AWS Managed Services Provider, we help our customers solve the most complex and transformative cloud projects in the world to build new revenue streams, increase efficiency, and deliver incredible experiences.

As a Rackspace Technology Company, we are backed by a global network of experts delivering proven solutions across the full spectrum of cloud technology. Everything we do is wrapped in our obsession with our customers’ success – our Fanatical Experience™ – so they can work faster, smarter, and stay ahead of what’s next.

Media Contact
Natalie Silva
Rackspace Corporate Communications
publicrelations@rackspace.com

FAQ

What is Rackspace Technology's recent announcement about PipeSearch?

Rackspace Technology announced a partnership with PipeSearch to implement advanced data modernization and machine learning capabilities to streamline inventory management in the pipe industry.

What stock symbol is associated with Rackspace Technology?

The stock symbol for Rackspace Technology is RXT.

What were the results of the machine learning model developed for PipeSearch?

The machine learning model achieved over 80% results confidence in just one week, helping PipeSearch standardize inventory data.

How will the partnership with PipeSearch benefit its customers?

The partnership is expected to improve customer insights and operational efficiencies in managing steel pipe inventories.