- The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the leading Text Analytics Platforms vendors.
- Luminoso, with its comprehensive technology and customer experience management, receives strong ratings across the parameters of technology excellence and customer impact.
Quadrant Knowledge Solutions announced today that it has named Luminoso as a 2022 technology leader in the global analysis of the SPARK Matrix: Text Analytics Platforms, 2022.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Manish Chand Thakur, Analyst, Quadrant Knowledge Solutions, “Luminoso’s Text Analytics Platforms capabilities include concept-level sentiment analysis driven by its advanced deep learning AI model, reducing the effect of human bias in the analysis that is inherently introduced through a supervised ML training process, and an advanced unsupervised learning AI model that can learn the contextual language present in the customer’s text data, thereby eliminating the need for setting up, training and maintaining ML models. Luminoso is capable of catering to diverse customer needs across industry verticals; with its comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, cloud-native platform, and product suite with high scalability, have received strong ratings across technology excellence and customer impact and has been positioned as a leader in SPARK Matrix: Text Analytics Platforms, 2022.”
“We are very excited to be recognized by Quadrant Knowledge Solutions as a market leader in their Text Analytics SPARK Matrix”, said Jeff Moyer, CEO, Luminoso. ” This achievement further validates Luminoso’s capability to deliver great value and drive better business outcomes for customers.”
Quadrant Knowledge Solutions defines a Text Analytics Platform as ‘a process that transforms unstructured and structured text into meaningful business insights. Text analytics software identifies and extracts real-time information from data, such as patterns, keywords, and other attributes. Natural language processing (NLP), machine learning (ML), deep learning technologies, and statistical and linguistic techniques are often used by the platform, allowing data leaders to derive insights from unmodeled content that was previously reserved for data professionals.
Some leading vendors offer features that facilitate continuous text analytics improvement to support the organization’s business intelligence initiative. These may support the creation of techniques that can convert content into text through optical character recognition (OCR), handwriting recognition, and speech to text (STT) to further augment the benefit of adopting text analytics platforms. Driven by the maturity of AI, and ML, text analytics platform vendors are increasingly augmenting text analytics capabilities to support advanced functionalities.