AutoMate Provides Quick Solution for Investment Company

by Jeff Stander, in Success Story, posted 1/22/14
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AutoMate is well known to speed up projects, and its versatility is building momentum as the years progress. With these unique ways of using AutoMate emerging, new standards are being set at a very fast rate. These new customizable methods present a solid framework for how future companies can stir up ideas that incorporate AutoMate into their workflow processes. As AutoMate continues its evolution into a more customizable business process automation software, more and more companies are finding numerous ways to take advantage of AutoMate.

And one of our customers, Michael, did just that. While working for a small investment company, Michael enlisted the help of our Netherland reseller, Benjamin Korper, to figure out an innovative way to solve a company project. 

Michael’s key project was to set out to determine, “how does geographical distance influence investment behavior by investment firms?” In order to complete his project, Michael had to pinpoint 1,500 different geographical data points to constitute a valid sample size. Initially, he obtained a list of investments made by investment firms that were geographically diverse. This list was comprised of the investment firms, the investees, their addresses/postal codes, and amount invested. What was missing was the distance between the two parties.

Michael originally input the Point A address to Point B address into Google Maps and started calculating the distances individually. He was able to calculate one distance query about once per minute. After roughly three hours he realized that it would take 3 or 4 days of extreme labor to complete all these data points individually.

That’s when he sought out the expertise of Korper in hopes of drastically expediting his project by using AutoMate.

In pursuit of a more efficient way to conduct this project, Korper hammered out an AutoMate task in roughly 30 minutes to extrapolate the data from the Excel file, transform it into a Google Maps query, and place the generated distance back into the Excel file.

Once the script started running, Michael stared at the screen in awe because of the speed at which it was working.  After just one minute, the AutoMate task completed the same amount of work that Michael completed in an hour!

After seeing the rapid success of AutoMate overpowering the manual method; he asked, mystified, “Why don’t they teach you how to do this in school?” 

Fortunately, AutoMate does! 

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