Product Overview of Lexalytics
Lexalytics is a leading enterprise analytics service specializing in the analysis of unstructured text data. Founded in 2003 and headquartered in Boston, with additional offices in the U.S. and Canada, Lexalytics provides sophisticated solutions to transform unstructured text into actionable insights.
What Lexalytics Does
Lexalytics processes billions of unstructured text documents daily, including comments, reviews, articles, emails, survey responses, contracts, and other forms of text data. The company’s solutions are designed to connect with customers’ internal and external databases, warehouses, and data firehoses to reveal contextual patterns and insights. This capability is crucial for various industries such as customer experience management, market research, social listening, brand management, voice of customer, and workforce analytics.
Key Features and Functionality
Natural Language Processing (NLP) and Artificial Intelligence
Lexalytics’ products, including Salience, Semantria, and the Lexalytics Intelligence Platform, combine NLP with artificial intelligence to analyze and interpret text data. These tools can handle complex sentences, understand syntax and semantics, and provide accurate sentiment analysis, intention analysis, and other insights.
Core Text Analytics Functions
- Sentiment Analysis: Determines the emotional tone or attitude conveyed by text.
- Named Entity Extraction: Identifies and categorizes named entities such as people, places, and organizations.
- Theme Extraction: Identifies recurring themes or topics within text data.
- Categorization: Classifies text into predefined categories.
- Intention Analysis: Predicts consumer behavior based on their statements.
- Summarization: Generates concise summaries of long documents.
- Low-level NLP Functions: Includes tokenization, part-of-speech tagging, sentence breaking, chunking, and syntax parsing.
Language Support and Customization
Lexalytics supports over 20 languages, including accented languages like Portuguese and Spanish. The platform offers pre-built industry configurations and can be customized to fit specific needs, including the ability to configure query topics and use Boolean search logic for contextualizing sentiment statements.
Deployment and Integration
Lexalytics solutions can be deployed on-premise, in the cloud, or within hybrid infrastructure. They can be integrated into other applications as OEM software libraries, making them versatile for various deployment scenarios. The platform also includes data connectors, data storage, and intuitive analytics dashboards optimized for communicating insights from text analysis.
Data Extraction Services
Lexalytics offers data extraction services for semi-structured documents, which combine leading NLP technologies with the ability to classify both structured and unstructured content. This service significantly reduces the time and labor costs associated with document data analysis and extraction, improving accuracy and insights.
Applications
Lexalytics’ solutions are applied in several key areas:
- Social Media Monitoring: Transforms social media data into structured insights.
- Customer Experience Management: Helps improve customer satisfaction by analyzing feedback and conversations.
- Voice of Customer: Provides insights into customer opinions and sentiments.
- People Analytics and Voice of Employee: Analyzes employee feedback and sentiment.
- Regulatory Compliance: Assists in parsing and understanding complex regulatory, legal, and medical documents.
- Robotic Process Automation (RPA): Enhances RPA capabilities by integrating text analytics solutions.
Pricing and Delivery
Lexalytics operates on a subscription model based on the number of processing cores or the number of documents processed per month. Pricing varies depending on factors such as the complexity of the configuration, custom features, and the duration of the subscription. Professional services engagements are also available for more complex document analysis needs.