Briefs

By Jeff Kelly, 03 Jun 2009 | SearchDataManagement.com

BOSTON -- Text analytics, while still a nascent technology, is slowly but surely growing in popularity in the enterprise, according to IDC Research.

Speaking at the Text Analytics Summit, held this week in Boston, IDC's Sue Feldman and Hadley Reynolds said the market for text analytics -- the process of mining text-based, unstructured data for patterns or other insights -- grew by 20% year-over-year between 2006 and today, and, though slowing because of the recession and overall decline in IT spending, it will continue to expand over the next two to three years.

IDC estimates that the enterprise search market, which includes text analytics software and applications, will reach an estimated $3 billion by 2012, up from a current estimate of $2.25 billion. Market drivers include desire for improved customer relationships, more sophisticated predictive analytics capabilities and concerns over eDiscovery compliance, according to Feldman.

Read more.