Leading industry analysts Ovum highlight up-and-coming text mining software vendor
(Cambridge, England and Boston, USA – May 7th, 2013) - Text mining software vendor Linguamatics is proud to announce it is the subject of a special “On the Radar” report by award-winning industry analysts, Ovum. The report recognizes Linguamatics as a leader in text mining and predicts strong growth prospects for the company in the coming year.
Ovum believes the life sciences industry is facing significant challenges, including patent expirations, increased regulatory requirements, poor pipeline productivity, higher efficacy thresholds for reimbursement, and increased complexity across the drug lifecycle. These challenges are driving life sciences companies to improve productivity while reducing costs. Ovum believes Linguamatics’ natural language processing-based knowledge discovery platform enables organizations to better leverage textual data, so as to achieve these goals.
Linguamatics I2E is noteworthy for its suitability for complex, high-value analysis of structured and unstructured text based data sets. Report author Andrew Brosnan states: “As life science organizations are faced with an ever-increasing volume of scientific, medical and social media textual data that is both structured and unstructured, there is a pressing need for software that can help to manage and mine large text-based datasets. Linguamatics’ I2E platform will be a valuable tool for fulfilling this objective.”
Linguamatics growth has been “impressive” and the company has “carved out an impressive footprint in big pharma”. The company has won contracts with nine of the top 10 pharma companies, the U.S. Food and Drug Administration (FDA) and increasingly customers in healthcare where mining of electronic health records can provide significant insights. The latest version of Linguamatics’ software, I2E 4.0, provides a powerful web services application programming interface (API) that enables companies to customize interfaces and “embed [text] analytics into day-to-day business processes”, thus making the software more accessible to a wider audience within the enterprise.
Ovum’s “On the Radar: Linguamatics” is available by request from www.linguamatics.com.
The Linguamatics Text Mining Summit will be held, in Newport, RI, USA, October 7-9 2013.