I am back in my office after a thoroughly enjoyable time at the annual
Text Analytics Summit in Boston. I have to admit I was in my element rubbing shoulders with thought leaders, end users, analysts and press.
Jim Cox and I arrived Sunday afternoon to attend two preconference presentations: "Text Analytics for Dummies" by Conference Chair,
Seth Grimes of Alta Plana, and a vendor comparison presentation by Nick Patience of technology industry analyst company,
451group.
The themes dominating the conference were:
sentiment analysis, social media analysis, social network analysis, voice of the customer, eDiscovery, Web search, visualization, SaaS and Cloud.
We heard keynote presentations:
“Discover and Drive Brand Activity in Social Networks” by Emmanuel Roche, Teragram and Jim Cox, SAS
“A Tale of Two Search Engines – The Evolution of Search Technology and the Role of Social Networking in Marketing” – Usama Fayyad, Open Insights
“Sentiment Analysis” – Bing Liu, University of Illinois
We also saw end user case studies, analyst and end user panels, a Text Analytics Market Report by IDC, vendor presentations and a group of very active roundtable discussions.
sentiment analysis. Key capabilities focused on product and feature level sentiment extraction. Sentiment is also considered a key component to
Social Media Analysis. While many vendors play in the social media analysis space, not many vendors provide all the necessary capabilities on their own. Tracking
social networks, reach, promoters, detractors, key influencers/key opinion leaders (KOL) and key themes/trends were put forth as valuable.
Voice of the customer / customer feedback continued to play a key role of text input to text analytics models that look to find key issues being reported by customers.
eDiscovery is probably the top text analytics application area at this year’s summit. Several law firms were represented and the ability to mine legal documents crucial.
Web search in relation to advertising was shown to be very powerful due to the user indication of intent. Advertising based on Web search and user behavior improves click-through ratio (CTR) by an average of 652%! Also mentioned was the mammoth effort required to tag massive volumes of rapidly changing Web content. There are numerous Web sites who employ user bases to do this for them. The new look of Web search goes far beyond providing lists of documents. Document facets, snippets, images, sentiment and more can be derived from search results.
Sue Feldman of IDC indicated the Text Analytics and Search market is moving in direct opposition to the current economic market. The analysts represented at the summit all agreed that visualization of huge volumes of text should be an area that all vendors pay more attention to. Other sentiments echoed by the analysts included the desirability of
Software as a Service (SaaS) applications, and the overwhelming need (and analyst amazement) that Text Analytics vendors had not provided
Cloud Computing yet.
On the whole, conference goers imparted a great amount of valuable information. I will wrap up my commentary with these overheard statements:
“Search doesn’t help you discover things you are unaware of.”
“TA technology can solve problems we don’t even know about yet.”
“Text analytics puts humanity into statistics.” (Thanks to Chris Bowman for that one!)
“The most common search on Monster is: Find me a job!” (followed by another that Blog Administrator refuses to post)
"Missing a piece of a puzzle is frustrating, can anyone spot the missing piece to my wardrobe?" [shoes]
Additional conference commentary can be found on twitter.com
#textsummit. My colleague Anne Milley also summarized
Day 1 and
Day 2 wrote about it on our sascom voices blog.
Curt Monash, we missed you this year!
SAS and Teragram would like to thank conference goers. It was a pleasure seeing you all!