Market Overview

Lexalytics® Acknowledged as Representative Vendor in Gartner 2020 Market Guide for Text Analytics

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Rising Interest in Natural Language Processing (NLP) Technologies Driven by Hyper Focus That COVID-19 Has Placed on Customer Experience, VoC Programs

AMHERST, Mass. (PRWEB) October 27, 2020

Lexalytics®, the leader in "words-first" machine learning and artificial intelligence, announced today that it has been recognized as a Representative Vendor in Gartner's August 2020 Market Guide for Text Analytics. Representative Vendors included in the Market Guide were chosen based on multiple criteria, including those whose core product meets the definition of "text analytics;" those most mentioned in Gartner client interactions; and broad awareness in the market, as identified through external review of publications and other public research.

"Lexalytics has seen growing demand for its suite of natural language processing (NLP) and text analytics technologies as organizations increasingly evaluate consumer sentiment and brand perception during this volatile global pandemic," said Jeff Catlin, CEO of Lexalytics. "In addition, while the cloud continues to be a key source of growth for the company, the boom in text data volumes across channels, coupled with heightened interest in NLP solutions from heavily regulated industries like financial services, healthcare and pharmaceuticals, have led many companies to choose on-prem deployments for heightened security and lower data processing costs."

According to the Gartner Market Guide, "COVID-19 has further propelled the market for text analytics, especially in industries, such as pharma and healthcare, where there is a need to analyze research from all over the world, across different languages, to come up with new drugs or courses of treatment. At the same time, governments and public departments are trying to leverage data from social media and other sources to monitor citizen response to social distancing measures. Many other industries, such as banking and financial services (that need to process large numbers of documents) focus on handling customer complaints and keeping the lights on for their back-office applications as they struggle with reduced staff (as most business process outsourcing [BPO] operations have been shut down). These and other organizations are trying to leverage natural language technologies (NLTs), from text analytics to chatbots to document processing, in an attempt to optimize their operations."

Lexalytics uses AI-based NLP and text analytics to transform unstructured text into usable data for customer experience (CX), social listening, brand management, market research and other business intelligence programs. The company's product line includes:

  • Salience®, a text analytics engine and set of text analytics libraries which are integrated into existing customer or BI applications on-premises or in other applications to gain insights from a company's unstructured data.
  • Semantria®, a cloud-based application which wraps the NLP features of the Salience engine into a RESTful API with graphical configuration tools and software necessary for a web service.
  • Lexalytics Intelligence Platform™, a complete business intelligence tool for data analyst teams which provides all the features necessary to gather, process, analyze and visualize text data in all its forms: integrated and custom data connectors, feature-rich natural language processing, easy configuration tools, intuitive analytics dashboards and more.

Lexalytics is currently running its "Switch to Lexalytics" campaign to encourage businesses processing large volumes of text data to switch from their current NLP provider to Lexalytics for lower costs and improved performance and service. For more information, please visit: https://success.lexalytics.com/switch.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Lexalytics®

Lexalytics processes billions of words every day, globally, for data analytics companies and enterprise data analyst teams that need to tell powerful stories from text data. The company's Salience®, Semantria® and Lexalytics Intelligence Platform™ products combine natural language processing with artificial intelligence to transform text in all its forms into usable data. Lexalytics solutions can be deployed on premises, in the cloud or within hybrid cloud infrastructure to reveal context-rich patterns and insights for voice of customer, voice of employee, customer experience management, market research, social listening, news monitoring and other business intelligence programs. For more information, visit http://www.lexalytics.com, email sales(at)lexalytics(dot)com or call 1-617-249-1049. Follow Lexalytics on Twitter, Facebook and LinkedIn.

For the original version on PRWeb visit: https://www.prweb.com/releases/lexalytics_acknowledged_as_representative_vendor_in_gartner_2020_market_guide_for_text_analytics/prweb17500687.htm

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