Text Analytics: Crazy Numbers Just Like the Good Old Days of Enterprise Search
March 16, 2016
Short honk: Want a growth business in a niche function that supports enterprise platforms? Well, gentle reader, look no farther than text analytics. Get your checkbook out and invest in this remarkable sector. It will be huuuuge.
Navigate to “Text Analytics Market to Account for US$12.16 bn in Revenue by 2024.” What is text analytics? How big is text analytics today? How long has text analytics been a viable function supporting content processing?
Ah, good questions, but what’s really important is this passage:
According to this report, the global text analytics market revenue stood at US$2.82 bn in 2015 and is expected to reach US$12.16 bn by 2024, at a CAGR of 17.6% from 2016 to 2024.
I love these estimates. Imagine. Close out your life savings and invest in text analytics. You will receive a CAGR of 17.6 percent which you can cash in and buy stuff in 2024. That’s just eight years.
Worried about the economy? Want to seek the safe shelter of bonds? Forget the worries. If text analytics is so darned hot, why is the consulting firm pitching this estimate writing reports. Why not invest in text analytics?
Answer: Maybe the estimate is a consequence of spreadsheet fever?
Text analytics is a rocket just like the ones Jeff Bezos will use to carry you into space.
Stephen E Arnold, March 16, 2016
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