Are Text Analytics Companies Learning the Silicon Valley Way?
August 11, 2011
Seth Grimes, founding chair for the Text Analytics Summit, interviewed three experts in order to find out what it is that Silicon Valley and the world of text analytics have in common. The full interview, “What Can Text Analytics and Silicon Valley Learn From Each Other?” can be found at Text Analytics News.
Grimes reports, “Business markets are global, yet the Bay Area stands out as a source and consumer of innovative technologies and in particular, as a pace-setter for the online and social worlds. With the Text Analytics Summit coming to San Jose, I reached out to a few west-coasters who are making Valley text analytics news: Nitin Indurkhya, principal research scientist at eBay Research Labs; YY Lee, COO of FirstRain; and Michael Osofsky, co-founder and chief innovation officer at NetBase.”
Osofsky explains the balance between precision and recall in text analytics, and urges Silicon Valley to understand that time and energy should be devoted to experimenting to find a balance between the two principles. On the other hand, Silicon Valley’s fast and exciting nature could be a good influence on the text analytics world. Software can be launched, edited, and evolved quickly and risks can be taken. Absorbing a bit of that mentality could enable text analytics to be a little more innovative and adventurous.
Indurkya encourages the text analytics world to adopt the Valley principle of “fail often and fail quickly.” In this way, he explains, innovation happens and failure does not bog down the overall momentum.
Lee encourages text analytics companies to focus separately on each of three equally important components: 1) Input 2) Internal process 3) Presentation. Each of the categories falls broadly under the category of text analytics and yet Lee stresses each must be treated independently during development.
Grimes concludes with his own collective thoughts on the three interviews.
The key takeaways that I see in these responses involve problem and product focus, agility, and the desirability of pulling and integrating information from multiple sources with the application of a variety of analytical techniques, in order to achieve technical and business goals. There’s no “Do X, Y, and Z” formula here, but there is definitely a sense of the rewards that are possible if text analytics is done right.
Out-of-the-box thinking is beneficial in any business arena, but especially those known more for rigidity than innovation.
Emily Rae Aldridge, August 11, 2011
Sponsored by Pandia.com, publishers of The New Landscape of Enterprise Search. And our own Stephen E Arnold is speaking at this year’s November 2011 event.
The Text Analytics Summit has been a staple of the text analytics community for the past 7 years. To help this community grow, the Text Analytics Summit is finally coming to the west coast to foster new networking opportunities, promote more healthy knowledge sharing, and create strong, long-lasting business relationships. Text Analytics is essential for maximizing the customer experience, effectively monitoring the social media world, conducting first-class data analysis and research, and improving the business decision making process. Attend the summit to discover how to unlock the power of text analytics to leverage new and profitable business opportunities. Whether you’re interested in taking advantage of social media analytics, customer experience management, sentiment analysis, or Voice of the Customer, Text Analytics Summit West is the only place to get the inside information that you need to stay ahead of the competition and profit from text mining. For more information, click here.
Digital Reasoning Forges Ahead With New Select Partner Program
July 10, 2011
Digital Reasoning has solidified its reputation thanks to its data analytics solutions which help companies dig deep into their data and really get the most from their resources. According to the Red Javelin Communications press release “Digital Reasoning Introduces Select Partner Program for Big Data Analytics” Digital Reasoning recently announced the formation of a new Select Partner Program for technology partners. “The program has been created to support the growing ecosystem of leading technology vendors building the next generation of analytic solutions for Big Data.” Digital Reasoning hopes to integrate its Synthesys business intelligence platform in not only commercial enterprises but also the federal government’s intelligence sectors.
Data Analytics is a way of life for companies such a Cloudera, DataStax and Fetch Technologies and they make-up the initial member lineup for the Select Partner Program. Cloudera provides clients with the valuable Apache Hadoop based data management software, Cloudera Distribution which is a commercial distribution of Hadoop platform. Apache Hadoop is an open-source platform designed to efficiently analyze both structured and complex data. Many companies use Hadoop because of its ability to handle different data sets, the flexibility to add or remove servers and its capability to detect errors or problems and fix them simultaneously while continuing to process data. According to the Cloudera Web Site, Cloudera Distribution “integrates the most popular projects related to Hadoop into a single package, which is run through a suite of rigorous tests to ensure reliability during production.”
Digital Reasoning’s latest version of its popular intelligence platform Synthesys will be fully integrated with Cloudera’s Distribution, specifically Apache Hadoop (CDH3) and HBase. According to the Marketwire.com article “Cloudera and Digital Reasoning Partner to Provide Complex Data Analytics for Government Intelligence and Enterprise Markets” this new integration will allow “Digital Reasoning to achieve extreme scale capabilities and provide complex data analytics to government and commercial markets.”
DataStax provides another valuable open source program, called Apache Cassandra. DataStax is the commercial leader for this open-source platform which allows customers to build, deploy and operate high volume real time operations across various servers, databases, computers etc without interruption. Fetch Technologies brings another important piece to the puzzle with its real time technology-based solutions. The technology allows companies to not only access their data but also compile it while accessing real-time Web data. Clients can access valuable websites and get important information such as data analysis.
Though each company’s products have some similarities they each bring something different and valuable to the Data Analytics table. According to a statement from the CEO of Digital Reasoning Time Estes, “We strongly believe that working with the best-in-class partners is the ideal way to help customers solve their Big Data analytic challenges.” Digital Reasoning understands the power of team work and is extremely optimistic about the partnerships. Proof the company believes “there is power is numbers.”
A happy quack for the Digital Reasoning team.
April Holmes, July 11, 2011
You can read more about enterprise search and retrieval in The New Landscape of Enterprise Search, published by Pandia in Oslo, Norway, in June 2011.
Inteltrax: Top Stories, to June 30, 2011
July 1, 2011
Inteltrax, the data fusion and business intelligence information service, captured three key stories germane to search this week, particularly in regards to Data Mining.
First, in “Big Cinemas Storms the US Market by Utilizing Data Mining” we saw how India’s niche cinema operator has pulled in big revenue by strategically opening theaters in the US, plotting its attack with data mining.
In “FEMA Using Data Mining” we saw how the Federal Emergency Management Agency could be better utilizing its data mining services to recover millions of lost funds.
Finally, on the flipside, “Medicare Makes Bold Decisions with Data Mining” saw us concerned with Medicare’s recent opening of its information for data miners and its lack of security for sensitive information.
These three stories explored the upside and the possible downside of data mining. Whether it be used for successful business ventures, government stability or a possible security risk, this technology is a tantalizing reminder of the possibilities forming from years of information collection.
Follow the Inteltrax news stream by visiting Inteltrax atwww.inteltrax.com
Patrick Roland, Editor, July 1, 2011
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