Scientific text analytics refers to the process of analyzing unstructured raw data, extracting relevant information from it and transforming it into useful business information. An annotator is something that can supply or furnish critical
Scientific text analytics refers to the process of analyzing unstructured raw data, extracting relevant information from it and transforming it into useful business information. An annotator is something that can supply or furnish critical or explanatory notes or comments.
The scientific text analytics and annotators market is expected to rise in the future as solution providers are merging big data with text analytics which can be used across various sectors such as healthcare, finance, banking, retail, government, and many more.
Text analytics and annotators combined together can help companies in fetching relevant information from a large amount of data by capturing certain keywords, phrases, classifications or entities which help them in determining the sentiments of user.
The various steps that are carried out in text analytics is text identification, text mining, text categorization, text clustering, search access, entity/relation modeling, link analysis, sentiment analysis, summarization and visualization.
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There are varied application of text analytics which are listed below
Few of them which are commonly used are
Scientific Text Analytics and Annotators Market: Drivers and Challenges
Organizations can benefit by getting a competitive edge over their competitors, or understand their current target market in a better way; for example – through social media tracking, a retail company can find out whether its customers are satisfied with its new product by tracking certain keywords or phrases.
Also, cloud-based text analytics solutions are rapidly growing in the market as companies are themselves going through a transformation (due to digitization).
Also, many small and medium scale enterprises find cloud-based solutions to be more economical as they require less storage space and lower maintenance cost.
Another market driver is that text analytics tool can break the language barrier. The emergence of multilingual text analytical tools has helped multi-national companies in gathering data and interpreting information in a more efficient manner. Also, every business has its own set of requirements and applications.
There is an increase in industry-specific text analytics tools which has led to many companies adopting this solution.
Key Market Players
The major players active in the Global Scientific text analytics and annotators market include SAS Institute Inc., IBM Corporation, SAP SE, MeaningCloud LLC, Smartlogic, Lexalytics, Provalis Research, OpenText Corporation, Pingar, AlchemyAPI and RapidMiner, Inc..
Regional Overview
Currently Scientific Text Analytics and Annotators industry is being dominated by North America followed by Europe. Asia-Pacific region is picking up pace in this market, and is expected to have the highest growth rate in the forecasted period, especially India and China.
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The report covers exhaustive analysis on
Scientific Text Analytics and Annotators Market Segments
Regional analysis for Scientific Text Analytics and Annotators Market includes development of these systems in the following regions
Scientific Text Analytics and Annotators Market: Segmentation
Segmentation On The Basis Of Deployment Type:
Segmentation On The Basis Of Application:
Segmentation On The Basis Of End-User:
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Sep 01, 2022