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DMG Consulting Releases 2010-2011 Text Analytics Product and Market Report; Social Media Driving Strong Adoption Through 2014

DMG Consulting Releases 2010-2011 Text Analytics Product and Market Report; Social Media Driving Strong Adoption Through 2014

DMG Consulting Releases 2010-2011 Text Analytics Product and Market Report; Social Media Driving Strong Adoption Through 2014

11/16/2010

      

Who:     DMG Consulting LLC, a leading provider of contact center and real-time analytics market research and consulting services

What:    Releases 2010-2011 Text Analytics Product and Market Report

When:   Today, 16 November 2010

Where: Available for purchase at the DMG Consulting website: www.dmgconsult.com

Background:

DMG Consulting LLC, a leading provider of contact center and real-time analytics market research and consulting services, today released its 2010-2011 Text Analytics Product and Market Report.

With more communications, interactions and discussions happening via email, blogs, text message, Facebook, Twitter and in Web chat than ever before, enterprises are realizing that it is crucial to stay abreast of what is being said about their brand across these channels. Many have attempted to manually monitor the unstructured data that is the Internet, but to do so correctly, the right technology platform is essential.

Text analytics has been a recognized IT sector for more than 15 years, yet it remains one of technology’s best-kept secrets. Long utilized in the publishing, research and scientific communities to structure and extract meaning from both long- and short-form communications, text analytics is capturing the attention of enterprises and contact centers. Although the market is fragmented, the prevalence of social media is driving increased enterprise interest in extracting relevant, actionable information and sentiment in real or near-real time from the vast untapped body of social media conversations, emails, blogs, text messages and chats.

Enterprises are utilizing text analytics for enterprise search & retrieval, multi-channel analytics, document tagging and publishing, market research, threat detection and reputation management, and the range of uses continues to expand as companies invest in text analytics to structure their social media communications and as vendors invest to enhance their applications for usability, support and robustness.

Any organization contemplating or currently implementing a social media strategy should be thinking about how text analytics can help achieve their goals,” said Donna Fluss, president of DMG Consulting. “There is an enormous opportunity for companies to differentiate themselves by utilizing text analytics or text analytics-enabled applications and sentiment analysis to capture and structure data on what is being said about them, over what channel, when, and by whom.”

Adoption of text analytics technology and applications has begun in earnest, and is expected to be rapid over the next few years as both vendors and enterprises invest in addressing a variety of business opportunities. DMG expects the text analytics market to see a 26.2% compounded annual growth rate (CAGR) between 2010 and 2014, with revenue growing from ~$80 million to ~$254 million during that time.

The 2010-2011 Text Analytics Product and Market Report defines the market in understandable terms for marketing, business and IT users, debunks market myths, and explores use cases for text analytics by business challenge and by vertical application. DMG’s first Report on this market is designed to help decision-makers understand the benefits of text analytics, and identify, assess and select the right solution for their operating environment. This 250-page Report is a comprehensive guide to the market, reviewing 10 vendors in two primary categories: text analytics application providers and text analytics toolkits. Attensity, Basis Technology, Clarabridge, Lexalytics, SAS and Temis are covered in-depth, and CallMiner, NICE Systems, Sysomos and Verint Systems are covered at a high level. The Report also includes:

  • Competitive overview and analysis: High-level review of the text analytics competitive landscape along with detailed product reviews including functional and technical comparisons of the six leading and four emerging text analytics solutions
  • Overview of the text analytics market:Exploration of what the market is, its growing importance and enterprise benefits, value proposition and return on investment (ROI), market activity, adoption, four-year projections, and trends and challenges for the industry
  • Product comparisons:Company reports examining all aspects of text analytics solutions, including differentiators, challenges, future R&D plans, and a look at innovation to come over the next 12 months
  • Technology assessment and use cases: An in-depth analysis of core text analytics applications and underlying technology components, as well as use cases for text analytics in the enterprise and the contact center by vertical and business challenge
  • Multi-channel analytics:Discussion of the relationship between text and speech analytics and why text analytics is essential for companies that want to understand the voice of the customer
  • Key definitions:Definitions of text analytics and related terms, designed to help business and IT users better understand and articulate their needs in this market
  • Pricing for text analytics solutions and toolkits
  • Complete text analytics vendor directory

To learn more about the 2010-2011 Text Analytics Product & Market Report, or to order a copy, visit www.dmgconsult.com, or contact Deborah Navarra at deborah.navarra@dmgconsult.com or 516-628-1098.

About DMG Consulting LLC

DMG Consulting LLC is an advisory and consulting firm specializing in contact centers and real-time analytics. We are a strategic advisor to end users and vendors, large and small, and the financial community. Our mission is to help our clients build world-class contact centers by leveraging technology, process and people. We assist management in optimizing the performance of their contact centers by increasing operational efficiency, providing an outstanding customer experience, enhancing loyalty and increasing sales and profits. We also help vendors develop products and services that deliver differentiated innovation and benefits that meet end users’ current and future needs.

DMG Consulting is the leading provider of industry research for many segments of the contact center and analytics markets, including: Text Analytics, Speech Analytics, Desktop Analytics, Performance Management, Quality Management/Liability Recording, Surveying/Feedback, Workforce Management, Hosted Contact Center Infrastructure Solutions, Interactive Voice Response Systems, Unified Communications, Outbound Dialing Solutions and Contact Center Outsourcing, For more information, visit www.dmgconsult.com.