Iron Mountain Unveils SaaS Content-Service Platform InSight
Iron Mountain Incorporated IRM recently delivered its latest SaaS content-services platform, InSight, making the Google Cloud platform commercially available for organizations. InSight solutions will enable customers to efficiently analyze massive physical- and digital-data repositories to improve decision making.
Notably, the SaaS solution has been developed in partnership with Google Cloud, which provided cloud support, as well as artificial intelligence (AI) and machine learning. Iron Mountain’s InSight uses unique classification techniques to sort, structure, context customers' content according to their needs. Further, the AI-based content analytics and visual search interface in InSight will enable companies to find new revenue- and cost-savings opportunities.
In addition, Iron Mountain’s InSight works in conjunction with Google Cloud’s AI and Iron Cloud to offer secure data management and analyses. It is also equipped to handle a variety of content formats, as well as different physical and digital sources.
Notably, organizations are witnessing significant growth in data storage to meet regulatory requirements, as well as for internal management purposes. Most of these firms are unable to unlock value from the unstructured data due to insufficient internal resources and capabilities. Bridging this gap, InSight provides content analytics and information-management capabilities a cost-effective approach.
Moreover, it will aid enterprises to build on their large data stores and gain insight while realizing full value of the information and creating new revenue sources.
Importantly, Iron Mountain has been making efforts to improve its core business by offering additional services.This subscription-based platform will support the company’s storage rental business. This, along with other transformation initiatives, including expansion of data-center business, will likely drive the company’s long-term growth. However, the costs of such efforts hurt its financials, especially as the company already has a highly leveraged balance sheet.
Shares of this Zacks Rank #3 (Hold) company have underperformed its industry over the past six months. Its shares have lost 14%, while the industry has declined 4.2% during the same time frame.
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