The term “text analytics” encompasses a broad and heterogeneous group of technologies that can add metadata to unstructured content; identify components such as people, places and events; and convert information to structured form so it can be analyzed by business intelligence (BI) solutions. The technology may employ statistical, linguistic and machine learning approaches to extract meaningful information. It can be used in a wide range of business purposes, from fraud detection to sentiment analysis. The push is increasingly toward more sophisticated interpretation of unstructured content that goes beyond what is currently considered text analytics.
According to Forrester, more than 200 companies are providing text mining or text analytics products, so it is a crowded market. The participating software products offer a variety of approaches to extracting actionable information from content that is generally recognized as accounting for about 80 percent of enterprise content. Those software solutions are becoming more intelligent. Rather than focusing on keyword searches or statistical analyses alone, they are incorporating a deeper understanding of language through greater semantic analysis and machine learning. That trend is moving text analytics well past the traditional approaches into the realm of cognitive computing.
Nasdaq
Nasdaq is best known for its technology-oriented stock exchange, but its business activities are much more extensive. The company owns or operates 32 exchanges globally, has a Global Information Services business that delivers market data and other value-added information and a Corporate Solutions group that helps organizations manage the flow of information to and from their audiences. The Market Technology division sells technology used to run Nasdaq’s own markets and other variants to companies that run other exchanges, including those in Singapore, Hong Kong and Turkey. It also sells Nasdaq SMARTS Trade Surveillance, which monitors trading activity for indications of insider trading, market manipulation and other questionable transactions.
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