Leading industry analysts Ovum highlight up-and-coming text mining software vendor
CAMBRIDGE, England and BOSTON, May 7, 2013 /PRNewswire/ — 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 from www.linguamatics.com.
The Linguamatics Text Mining Summit will be held in Newport, RI, USA, October 7-9, 2013.
Linguamatics is the world leader in deploying innovative natural language processing (NLP)-based text mining for high-value analytics, knowledge discovery and decision support.
Linguamatics I2E software platform is used by leading commercial, academic and government organizations, including 9 of the top 10 global pharmaceutical companies and the U.S. Food and Drug Administration (FDA). I2E can be used to mine a wide variety of text resources, such as scientific literature, electronic health records (EHRs), patents, clinical trials data, news feeds, social media and proprietary internal content. Linguamatics I2E is available as an in-house enterprise system, a managed service and software-as-a-service (SaaS) on the cloud.
ABOUT OVUM AND “ON THE RADAR”
Ovum’s work is based on independently audited methodologies that ensure clients can base decisions on rigorous and fact-based research, rather than on unqualified and unjustified opinions. The research draws upon over 400,000 interviews a year with business and technology, telecoms and sourcing decision-makers, giving clients insight not only into business requirements but also into the technology that organizations must support.
“On the Radar” is part of Ovum’s series of research notes that highlights up-and-coming vendors that bring innovative ideas, products, or business models to their markets. Although “On the Radar” vendors may not always “be ready for prime time,” Ovum believes they bear watching for their impact on markets and could be suitable for certain enterprise and public sector IT organizations.
For further information, visit www.ovum.com.
For further information please contact:
Sue Ziobro, Head of Marketing
Tel: +44 (0) 1223 651910