As per this job listing, at least one “major NYC investment bank” plans to do text mining on a proprietary trading desk.
The successful candidate will mine text data from numerous news sources and incorporate the information the proprietary trading systems.
I’ve been thinking for a long time that the various text mining companies doing sentiment analysis should try some public-facing (or at least multi-customer) services. Investors might love such a thing. So might marketing managers (actually, Factiva claims to be active there, at least as per their web site). And as a key part of the strategy, text mining companies selling to enterprises might brand such a site and gain massive awareness accordingly. Well, it seems that public-facing sentiment analysis sites are springing up. At least, Summize has. (Hat tip to TechCrunch.) And the text mining vendors are nowhere to be seen.
So what else is new? Read the rest of this entry »
When Andrew McKay was at FAST, I grumped about his search/BI integration story. Now that he’s trying to do the same thing at a startup called Attivio, it sounds more plausible.
Attivio is having a house party and product rollout in the latter part of January, and details are scarce in the mean time. But here are some highlights.
CEO Eric Bregand of Temis recently checked in by email with an update on text mining market activity. Highlights of Eric’s views include:
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Technorati Tags: TEMIS, nStein, IBM, text mining, voice of the customer
I’m at the Business Objects annual user conference, and had a couple of chances to talk with Inxight/text analytics folks. When I asked about areas of commercial application traction, answers were similar to those I got from Attensity and Clarabridge, but not quite the same. Specifically:
The Business Objects/Inxight folks also made a couple of interesting general technical points.
Besides asking them technical questions, I surveyed Attensity and Clarabridge last week about text mining application trends, getting generously detailed answers from Michelle De Haaff of Attensity and Justin Langseth of Clarabridge. Perhaps the most important point to emerge was that it’s not just about particular apps. Enterprises are doing text mining POCs (Proofs of Concept) around specific apps, commonly in the CRM area, but immediately structuring the buying process in anticipation of a rollout across multiple departments in the enterprise.
Other highlights of what they said included:
Jay Henderson of ClearForest tells me that hedge funds are one of their more interesting growth areas. It’s about time.
I think a lot of the reason for investment firms not making more use of text analytics has been structural — Factiva, the (relatively speaking) mammoth joint venture of Reuters and Dow Jones, is forbidden by its parent companies from meeting investment firms’ needs. And that’s kind of a pity, as it’s probably the best-positioned firm to do so. It’s good to hear that the little guys are finally filling the gap.
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