How is the name pronounced? "Rage-ick" or "Rag-ick"?
As someone said earlier, people are much more likely to think of "tragic." Actually, I think they'll think of "rage", which is an emotion that you most definitely do not want associated with your software.
Given that you aren't even getting the connotation of "rapid"/"magic", you're better off using an arbitrary word.
For Arrested Development fans, think of the combo-profession of "Analyst" + "Therapist".