Text analytics set to become a $1B market place

Text analytics grew 25 per cent last year, creating a $1 Billion market. Text Analytics Summit (London, April 23-24) will focus on how to improve consumer insight to drive competitive advantage. Learn more.

Text analytics grew 25 per cent last year, creating a £635mln ($1 Billion) market, as more and more businesses look to capture customer sentiment as a source of competitive advantage.

Text analytics technology remains young, and there is a general lack of understanding in many companies, but the potential of accurately capturing real-time sentiment is steadily being realized.

There are two main drivers, says Themos Kalafatis, an independent consultant in predictive analytics.

"The ever increasing volume of information via social media and mobile devices, and new types of analysis and applications...For instance, conversations from call centres can now be transformed into text, and analysed."

Rene van Erk, CEO and founder of ISV World, a company using search, language and text analytics tools to generate the world's largest structured database for the software industry, says:

"Any company that has to deal with significant amounts of data can benefit from text analytics...traditional publishers [as well as] large oil, finance, telecoms, and insurance companies, who rely on significant amounts of data, can use text analytics to deliver more value to their customers."

To support the emergent analytics market, Text Analytics News has organized the Text Analytics Summit (London, April 23-24) which focuses on how to improve consumer insight to drive competitive advantage, click here to find out more about the conference

Business-boosting tips will be delivered through a series of exclusive case studies by Aviva, Merck Group, HM Revenue & Customs, among many other groups across a range of sectors.

These talks will reveal practical insight on how:

To store and analyse large amounts of data to make real time decisions and extract deep insights
Companies across different sectors harness text analytics for customer experience management to drive competitive advantage
Accurately capture and analyse the voice of your customer to improve the marketing of your product / service and drive customer retention

George Kiley, Chief Editor, Text Analytics News, and Summit host, says: "In times of austerity, it is crucial that we focus on what makes financial sense. So the London Summit centres on how text analytics can offer a source of commercial advantage - importantly, told through the stories of recent adopters."

To learn more about the agenda, speakers and sponsors please click here to download the Summit Brochure.

For more information and to book your place contact George Kiley at
gkiley@fcbusinessintelligence.com
or Tel: +44 (0) 207 3757545