Continued Growth Expectations for Text-Analytics Markets
December 21, 2011
It is no doubt text-analytics demand is skyrocketing. From brand management to competitive intelligence, businesses recognize the numerous and valuable applications for the software and services that turn business data into information gold. Seth Grimes breaks down the market outlook and a variety of text analytics components in, “Text-Analytics Demand Approaches $1 Billion.”
Grimes reports software and service text-analytics revenues at $835 million globally. While Grimes’ analysis comes to us from his 2010 market study, it is good to know the historical growth as we look at 2012 predictions. From the 2010 market study findings:
Growth is steepest for applications that seek business insight in social networks, online media, and surveys. Applications include brand-reputation management, market research, competitive intelligence, and customer service and support. For these applications and others, text analytics brings automated, natural-language processing techniques to bear to identify and extract names, facts, relationships, sentiment, and other information in blogs, forums, news, social updates, e-mail, and a range of enterprise sources.
Grimes predicts text-analytics markets will sustain healthy annual growth rates between 25 and 40 percent in each of the coming years with a continued shift from on-premise software to Web services. He also suggests the benefits of a third-party solution to plug into your existing system to lower initial costs, ease start-ups, and to access the service provider’s repository of social and online information.
A third party solution we like is Fabasoft Mindbreeze. Staying ahead of the curve, they have solutions for Enterprise search, information pairing, searching the cloud, and mobility. Daniel Fallmann, founder and managing director of Mindbreeze Solutions GmbH, comments on the product in “Fabasoft Mindbreeze Appliance is Trend-Setting Product 2011”:
“Our focus on agility, quality, usability and style in the monthly shipments of our latest product innovations enables us to integrate and implement client requests into our product development rapidly and sustainably. In addition to our on-premise offering, everyone can now try out our product in the Cloud, immediately. This is a possibility much appreciated by our clients and partners alike.”
Check out Fabasoft Mindbreeze’s suite of solutions to see what works for you.
Philip West, December 21, 2011
Sponsored by Pandia.com
Comments
2 Responses to “Continued Growth Expectations for Text-Analytics Markets”
-
- Subscribe to Beyond Search
Feature archive
News archive
-
Fabasoft Mindbreeze sounds like a laundry detergent.
Ann O’Nymous,
How perceptive. You are exactly the type of thinker who would add value to the work of Ovum,
Gartner, Forrester, and the Kelsey Group. McKinsey, Bain, BCG? Well, I am not certain.
Stephen E Arnold, December 22, 2011