NEW BRUNSWICK, NJ -- (Marketwire) -- 10/16/12 -- Connotate, the leading provider of solutions that help organizations automate data collection from the Web, today announced it is partnering with Luminoso, a provider of advanced analytics and a spin-out of the MIT Media Labs, to deliver powerful new capabilities leveraging Web data to support Voice of the Customer analysis, market research and product development across many industries.
"We are Data Scientists who rely on large volumes of Web data to fuel our work," said Dennis Clark, chief strategy officer for Luminoso. "We were working to deliver a breakthrough Voice of the Customer solution for a major consumer packaged goods manufacturer, and Connotate proved to be the ideal solution for gathering unstructured product review comments and transforming them into a usable, structured format. Connotate exceeded our reliability requirements and automated the process of grabbing the precise data we needed to support our client's comprehensive market research studies."
Luminoso draws insights from Big Data by combining a unique approach to textual understanding with a comprehensive, common-sense knowledge base, collected from the Internet over the course of 12 years. Luminoso's automated evaluation of documents and context obviates the need to build cumbersome rule sets. In many cases, the software produces actionable results within hours of receiving initial data input.
"Companies are just beginning to leverage agile text analysis applications to understand the Voice of the Customer," said Isai Shenker, vice president of product management for Connotate. "Luminoso's selection of Connotate is an important milestone in combining the wealth of Web data with the advanced technology of customer sentiment analysis -- creating solutions that are automated, scalable and rapidly deployable. The demand for this type of solution is exploding as companies seek near real-time feedback to adjust pricing and product positioning, as well as fresh insights into what people really think about their product or brand."
Connotate and Luminoso will be sharing real-world market research and customer sentiment use cases in a webinar on November 1, 2012 titled "Know Your Market -- Know Your Customer: What Web Data Reveals if You Know Where and How to Look." Learn more at http://pages.connotate.com/120111_WebinarPRSM.html about this free, informative webinar.
Connotate puts the power of Web data monitoring and collection into the hands of the business user. Connotate delivers the scalability, reliability and resiliency necessary to drive strategic value from dynamic, Web sources. With benefits ranging from increased productivity, competitive advantages and dramatic operational cost savings, Connotate's growing customer list includes global businesses such as McGraw-Hill, Associated Press and Thomson Reuters. Connotate has been named a KMWorld "Trend-Setting Product" for the past seven years. Connotate announced the acquisition of Fetch Technologies in March 2012. For more information, please visit www.connotate.com or www.connotate.co.uk.
A spin-out of the MIT Media Lab, Luminoso brings an unparalleled level of insight to text data. The explosive growth of big data in business and the accompanying need for analytics has produced a wealth of tools for understanding statistics, demographics and other quantitative data; however, these capabilities have been lacking for text. Luminoso addresses this need by providing a fast, scientific option for understanding text. For more information, visit www.luminoso.com.