NetBase Named an Innovative Information Access Company to Watch by a Leading Market Research Firm
Insight Discovery Pioneer Recognized with Group that is Driving Change
MOUNTAIN VIEW, Calif.—January 12, 2010—NetBase, the Insight Discovery company, today announced that it has been named an Innovative Information Access Company Under $100M to watch by leading IT market research and advisory firm, IDC . To identify the companies to watch, IDC solicited entries from information access vendors with annual revenues of less than $100 million that exemplified one or more of three trends in information access software today. Information access encompasses markets for business intelligence, data warehousing, data integration, search and discovery, and content management (including enterprise content management, Web content management, records management and digital asset management) software. These trends, cited in January 2009 as part of IDC’s applications predictions for the year, include:
- Innovations in the user interface that incorporate Web 2.0 concepts
- Unified access and management to all types of information
- Intelligent process automation
IDC recognized that NetBase differs from other text analytics applications because it focuses on the “linguistic glue” that makes up language and indicates the type of relationship between one entity and another. While search engines, for instance, tend to ignore verbs like “to be” or words like “because,” these terms are the grist for the NetBase mill (as well as for human understanding)… The platform is highly scalable, quick to deploy, and comes with a user-friendly interface that displays relationships as tables or statements that can be used to drill down to the original work… Because of its advanced text mining technology, Web 2.0 interface, use of collaboration, ease of use, and ability to merge access to multiple types of content, this application is a good example of an innovative information access application.
“IDC recognized Netbase as an innovative information-access company because of its ability to mix deep text analytics, machine learning, collaboration, annotations and information gathering.” said Henry Morris, senior VP, Worldwide Software and Services. “For that reason, Netbase has carved out a position in the search and discovery tools market and is a company to watch.”
The study concluded that applications that access, manage, and analyze all types of information can constitute a significant competitive advantage. Furthermore, organizations were encouraged to invest in these types of technologies because:
- Smaller workforces faced with increasing workloads will require more knowledge work automation.
- Increased litigation as a fallout from the financial meltdown of 2008-2009 will promote investment in eDiscovery applications.
“We are honored to be recognized by IDC as one of the companies driving change in the new world of information access,” said Jonathan Spier, CEO and co-founder, NetBase. “Our customers, including top Fortune 1000 companies and the leading science, technology and medical publishers, have already experienced the power of our patent-pending lenses to discover insights and we plan to continue our innovation in this area in 2010.”
NetBase provides insight discovery tools that are changing the way people search. Its next-generation semantic technology reads sentences to surface insights from billions of sources in public and private online information. Patent-pending lenses provide context for search results and intelligently guide users to answers. NetBase solutions are assisting market researchers at Fortune 1,000 companies with netnography and social media understanding and enabling science, technology and medical (STM) publishers to enrich their documents for researchers. Five of the top ten consumer packaged goods companies, including Procter & Gamble, and two of the top three STM publishers, including Elsevier, are using NetBase to find answers faster. Based in the heart of Silicon Valley, NetBase is a privately held company. For more information, visit: netbasequid.com.