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| NEW
RELEASE OF BURNING GLASS LENS™ DELIVERS
UNPRECEDENTED SEARCH POWER
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Even
More Capability than Before to Identify
and Evaluate Candidate Skills
FOR
IMMEDIATE RELEASE
San Diego, CA (March 8, 2003)
Burning
Glass Technologies announced today the launch
of the newest version of its industry-leading
LENS™ software. LENS™ Version
1.5.3 provides even more accurate and focused
candidate searching and matching.
"Although
previous versions of LENS™ were recognized
as having the best search and match capability
in the industry, we decided to push LENS™
still further ahead of the pack," said Krishna
Gopinathan, Chief Scientist of Burning Glass.
The
LENS™ suite includes state-of-the-art
tools for resume processing, screening,
and search. Its patented data extraction
and translation technologies enable the
system to read resumes in all major file
formats, identify and extract hundreds of
resume facts, and translate this information
into readily-searchable HR-XML format for
easy import into applicant tracking or human
resource management systems. LENS™
also incorporates its leading edge, artificial
intelligence-based Predictive Matching™
engine to measure how suitable each candidate
is for the position.
Other
systems rely on simple keyword searching
to match candidates to jobs. LENS™
deploys neural network technology to improve
the precision of matches. In fact, tests
have shown that LENS™ is up to 4.5
times more likely to find the right candidate
for the job than other solutions. The Predictive
Matching™ engine is built from data contained
in Burning Glass' unique repository of historical
career data extracted from millions of hiring
decisions. The engine has distilled the
complex behavioral patterns in these resumes
and uses those patterns to build predictive
models for employment.
Version
1.5.3 improves searching functions by providing
greater levels of clarity in extracting,
identifying, and cataloging each candidate's
skills. Skills, certifications, and accreditations
are identified in context through sophisticated
predictive techniques. LENS™
evaluates experiences based on their context.
For example, hands-on C++ in a job is far
more valuable than C++ studied in a course.
LENS™ notices that difference and
isolates the experiences the user is looking
for in the right context. In addition, LENS™
uses inference to identify relevant skills
the applicant may not have listed on the
resume.
LENS™
then translates skills to a standard, stable
catalog. For example, SCO UNIX, HP-UX, and
Solaris are all understood to be variants
of UNIX. Version 1.5.3 also includes a new,
easy-to-read skills summary, making it faster
for hiring managers to review relevant applicant
details and to draw side-by-side comparisons.
"Unlike
most systems, LENS™ is not keyword
based," said Anu Pathria, Vice President
of Development at Burning Glass. "When you
review a resume, you're not looking for
specific words as much as you are looking
to understand the candidate's strengths.
And we have recognized that much of what
makes candidates a strong or weak fit comes
down to the skills they bring."
About
Burning Glass Technologies
Burning
Glass develops the world's most advanced
and effective solutions for resume processing,
screening, and search. Quickly deployed
and scalable, Burning Glass applications
have demonstrated an 80% reduction in cost
to screen resumes and are up to 4.5 times
more likely to find the right candidate
for the job than existing solutions - resulting
in faster time-to-hire and higher quality
matches. Built atop pioneering statistical
natural language processing technology,
Burning Glass data extraction tools operate
at the highest level of accuracy and detail
in the industry. Burning Glass controls
several patents in the fields of data extraction,
information interpretation, behavioral profile
generation, entity matching, and machine
learning. Since 1999, Burning Glass solutions
have been used by major employers, recruiters,
and job boards and are embedded in the technologies
of leading applicant tracking systems.
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