Text Analytics Market to see 25.2% CAGR Globally by 2020, says a Research Report available at Big Market Research

Big Market Research adds a report titled Global Text Analytics Market (Deployment Model, Application, End User and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013. The report states that the global text analytics market is expected to reach $6.5 billion by 2020, registering a CAGR of 25.2% during the forecast period i.e. 2014-2020.

Text analytics refers to a computer software that studies massive quantity of textual data and reveals driving enterprise decisions, customer sentiment & intentions and also provides strategic insights. Text analytics is a set of investigative methods that is designed to operate various written works including blogs, tweets, call center notes, newspaper articles, web pages and more. This particular kind of data is totally different from the uniformly stored data in the database tables. This data studying method demands exclusive technology that consists of math, knowledge engineering, grammar and linguistics.

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Text analytics software provides the companies with insightful information, which helps them in getting a better understanding of their customers and determine customers’ needs & demands, purchasing pattern, etc. Text analytics is the upcoming technology that would facilitate numerous industries including FMCG, BFSI, Healthcare, Telecom, etc. with the help of the data collected from various reliable sources.

Rising acceptance of the cloud based data storage systems and usage of social media platforms is aiding to the popularity of the text analytics software. The need to control and manage risk, fraud, plan effective marketing strategies are the major factors driving the growth and application of text analytics technology across many business organizations around the globe.

Text analytics technology enables the businesses to analyze market data on real time basis, which is another major factor for the growing popularity for the text analytics market. The technology would help the companies with thorough business intelligence, understanding market dynamics and it would also help with insights on the competitive structure of the text analytics market across the globe.

The report on global text analytics market is a comprehensive study on the global text analytics market to understand the market trends and various factors influencing the growth of the global market. The report provides in-depth analysis of the overall market and provides detail explanation of the various segments of the overall market.

Geographical regions covered in this are Europe, North America, LAMEA and Asia Pacific. The report is drafted to provide the readers with insightful information on the global text analytics market happenings and competitive structure. The report profiles some of the leading companies from the text analytics market across the globe such as Clarabridge, SAS Incorporation and many more.

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