Iron Mountain Wins Award For Cloud-Based Platform InSight
Zacks Investment Research | Apr 10, 2019 08:28AM ET
Iron Mountain Incorporated (NYSE:IRM) recently received the 2018 Google (NASDAQ:GOOGL) Cloud Global Technology Partner of the Year for AI and Machine Learning award. The award was presented to the company at Google Cloud Next '19 in San Francisco.
Last October, Iron Mountain delivered the company’s SaaS content-services platform, InSight, by combining its data and content management expertise with Google Cloud's AI and machine-learning capabilities.
The subscription-based platform 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-saving opportunities. InSight has made the Google Cloud platform commercially available for organizations. In addition, it enables customers to efficiently analyze massive physical- and digital-data repositories in order to improve decision making.
Most firms are unable to unlock value from their massive archives of unstructured data due to insufficient internal resources and capabilities. Bridging this gap, InSight provides content analytics and information-management capabilities, creating new revenue sources for the firms.
Per Kevin Ichhpurani, corporate vice president, Global Partner Ecosystem at Google Cloud, the award recognizes Iron Mountain’s “innovative work on behalf of Google Cloud customers over the past year.”
Per Iron Mountain management, InSight has aided the company’s customers on their digital transformation journey that has enabled customers to unlock new growth and revenue sources. With the help of InSight, companies can easily access, search, correlate and gain knowledge of all data assets in a single platform.
These efforts, along with other transformation initiatives, including expansion of data-center business, will likely drive the company’s long-term growth. Nonetheless, the costs of such moves 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 Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.