Lexalytics®, the leader in cloud and on-prem text analytics solutions, announced today that it has been listed as a Sample Vendor in Gartner’s “Hype Cycle for Data Science and Machine Learning, 2017” (July 2017), “Hype Cycle for Analytics for Business Intelligence, 2017” (July 2017), “Hype Cycle for Imaging and Print Services, 2017” (August 2017) and “Hype Cycle for Life Science Research and Development, 2017” (July 2017) in the category of Text Analytics.
In three of the reports, Gartner analysts Kurt Schlegel, Alexander Linden and Nigel Shen explain, “The surge in data volumes, together with the increasing need to make sense of the underlying context of data, has fueled the evolution of text analytics. Another strong driver is the desire to complement insights gleaned from analysis of structured numerical data with text-based facts for more robust predictive modelling. Future technological advances could lead to highly automated solutions capable of accurate and deep understanding of contexts.”**
Gartner further notes in its Hype Cycle for Analytics and Business Intelligence that “a new paradigm called ‘augmented analytics’ is emerging, in which machine-learning automation will be critical to augmenting human intelligence and contextual awareness across the entire data and analytics workflow, from data to insight to action. ‘Augmented analytics’ is an umbrella term that includes augmentation of several technologies (including data preparation, data discovery and data science) with machine learning and natural-language processing capabilities.”
“For nearly 15 years, Lexalytics has been an innovator in text analytics, honing our machine learning and natural language processing technologies to help enterprises gain greater value and insights from their structured and unstructured data,” said Jeff Catlin, CEO of Lexalytics. “We feel Gartner is spot on in identifying the emergence of ‘augmented analytics,’ and the impact that text analytics will have across data management, analytics and BI, and data science, and we’re honored to be included in these reports.”
According to Gartner, text analytics is in the “Slope of Enlightenment” phase of the Hype Cycle where “focused experimentation and solid hard work by an increasingly diverse range of organizations [is leading] to a true understanding of the technology’s applicability, risks and benefits.” In addition, Gartner notes that text analytics has moved into the “Adolescent” stage of maturity, indicating that it has moved beyond early adopters in market adoption.**
**Gartner, Hype Cycle for Imaging and Print Services, 2017, 02 August 2017, Hype Cycle for Analytics and Business Intelligence, 2017, 28 July 2017, Hype Cycle for Data Science and Machine Learning, 2017, 28 July 2017
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