Wednesday, April 10, 2013
LUMINOSO/ TIME magazine called it the "next big thing" in Big Data a year ago. They were right. Everyone is using Text Analytics, a process that derives high quality information from text. The Drug Industry has seen breakthroughs result from Elsevier and other publishers opening up vast archives. Brands such as MARS, Microsoft and 7-Eleven, and ad giants Omnicom and WPP are using Text Analytics A Cambridge, MA based company called Luminoso is spearheading the latest advances in Text Analytics and Visualization.. Luminoso has raised substantial seed capital and has several major clients --- and hasn't even launched yet. With clients such as MARS, Aegis Media and British Telecom, this "graduate" of the MIT Media Lab is already disrupting Big Data. "We go way beyond sentiment analysis to discover actionable knowledge," the company's website declares. "The Luminoso API constructs models of language that let computers understand the meaning behind the words" Luminoso can also look into real-time trends. Luminoso generated attention at SXSW with their Twitter analysis of the buzz around that event. Luminoso (www.luminoso.com) launches on April 15th.