Thursday, November 12, 2009

Text Analytics

Text Analytics Gains a Broader Audience in the Enterprise by Paula J. Hane, IT Newslinks (Nov 2)

Text analytics is becoming more important to search. As this article explains:

"Text analytics extracts key information from unstructured text and helps to retrieve otherwise hidden information. It is a key component of many customer relationship management (CRM) applications, as well as for media and publishing, competitive intelligence, reputation monitoring, e-discovery, compliance, and financial analysis. Because of this, we've seen a number of acquisitions of text analytics firms by larger search companies (Business Objects acquired Inxight, Reuters acquired ClearForest, SAS acquired Teragram, and IBM acquired SPSS) and an increased pace of product and service rollouts."

It's really automatic tagging. Susan Feldman said of one vendor, TEMIS:

""It's clear that text analytics has taken off as a hot market, and TEMIS' expansion of its US business underlines this fact." "As the volume and flow of information increases, publishers and corporations are turning to automation to tag their content to make it findable, to understand what their customers are saying, to monitor trends and opinions about their products and their companies. That's impossible, given the exponential growth of information that needs to be processed, unless the process is automated." "

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