KDnuggets : News : 2007 : n03 : item34 < PREVIOUS | NEXT >

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Subject: The Text Mining industry in Europe set to be worth $15 billion by 2010

The unstructured data space in Europe is exploding, it is set to be worth $15 billion by 2010 according to industry expert Alessandro Zanasi.

[PR: London, January 2007]

Text mining technologies have already kick started in the US and now the trend is starting to gain traction across the globe. But it's the European market where all the eyes are turning right now, with a flurry of acquisitions taking place.

So what is it about Europe that makes it such a hot text analytics market right now?

'The future is not what it used to be. Until recently, the challenge has been gathering data. Now the challenge is organising, assessing and comprehending it. If it's worth doing, it's worth doing with power tools; the exponential growth of information has left us with no conservative options" says Henk Alles, president of Infolutions, a European provider of Text mining products, who will be speaking at the upcoming European Text Analytics Summit in Amsterdam www.textanalyticsnews.com.

'Text Analytics is having a huge impact worldwide, but nowhere more than in Europe where government and industry interact with citizens and consumers, exploiting text sources for scientific, marketing, media, and security applications in a host of national languages, addressing critical business and social needs' says Seth Grimes, president of Alta Plana.

While Anton Heijs, CTO at Treparel, an European provider based in Amsterdam adds that ' with tighter regulation in European there is a growing need to be in control of important business data.'

Companies such as SPSS, Temis, Basis Technology, Vivisimo, Linguamatics, Ysis Search, Treparel and Infolutions are driving forward with text analytics initiatives and are set to meet in Amsterdam on April 26th and 27th to discuss new technologies and techniques with which to extract the maximum value from unstructured data including Multilingual Technologies, Business Deployments and Text Analytic in CRM and patent discovery.

More information on the European Text Analytics Summit can be found at www.textanalyticsnews.com.


KDnuggets : News : 2007 : n03 : item34 < PREVIOUS | NEXT >

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