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Text Analytics Market : Global Forecast & Analysis (2014-2019)
The overall need of effective text analytics solutions and services is steadily growing because of the fact that organization data offers insights while making crucial decisions. When the world accepted the social media culture, it became the area of interest for organizations to look for data that might be vital for them. Social media intelligence is the next big thing in the text analytics market.
Social media platform is a major contributor of large amount of data which could be beneficial for many organizations when analyzed by the right set of tools. Social media platform is used to host talks on latest trends and burning topics which in turn could help organizations tap the potential markets. Text analytics with its multilingual support helps break the language barrier between the customer and the company. This will help the company establish globally.
Text analytics has huge potential in the field of market research, in improving customer experience, and in exercising marketing and branding more efficiently.
From a considerable amount of time, text analytics holds immense significance for many industries and organizations. Text analytics software is equipped to handle any size and form of data with complex algorithms.
The text analytics market is growing at a rapid rate which is evident from the acquisitions being made in this market. These acquisitions include Autonomy by HP, Netbreeze by Microsoft, KXEN by SAP, and Extended Results by TIBCO. The key players such as IBM, SAP, Microsoft, Oracle, and HP offer text analytics products and solutions for enterprises, and Small and Medium Businesses (SMBs). There are many other players such as MicroStrategy, which provide text analytics solutions in partnership with other niche players.
The expectations from the text analytics solutions have gradually moved from simple data analysis to more strategic areas such as social media monitoring, survey and feedback analysis along with multilingual analysis.
Text Analytics Market by Applications (Enterprise, Web-based and Software, Data Analysis, Search-based, Others), Users (SMBs, Enterprises) & Deployment Model (Cloud, On-premise) - Market Forecasts and Analysis (2014-2019)
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