Product Overview of Lexalytics
Lexalytics is a leading provider of advanced text analytics and natural language processing (NLP) solutions, designed to transform unstructured text data into actionable insights. Here’s a detailed overview of what the product does and its key features.
What Lexalytics Does
Lexalytics processes billions of unstructured text documents daily, helping businesses and organizations extract valuable insights from various sources such as comments, reviews, articles, emails, survey responses, contracts, and social media posts. The platform is tailored to solve the specific challenges of analyzing text data, making it a crucial tool for enterprise data analyst teams, marketing, PR, and support teams across various industries.
Key Features and Functionality
Natural Language Processing (NLP)
Lexalytics leverages robust NLP capabilities to analyze and understand complex text data. Key NLP functions include:
- Language Identification: Supports 20 languages, identifying the language of the text to guide subsequent analysis.
- Tokenization: Breaking down text into individual words or tokens.
- Part of Speech Tagging: Identifying the grammatical category of each word.
- Syntax Parsing: Analyzing the grammatical structure of sentences using Lexalytics’ proprietary Syntax Matrix™, which enables accurate comprehension of complex sentences.
Text Analytics Functions
The platform offers a range of text analytics functions, including:
- Sentiment Analysis: Determining the emotional tone or sentiment behind text.
- Named Entity Extraction: Identifying and extracting specific entities such as names, locations, and organizations.
- Theme Extraction: Identifying underlying themes or topics within the text.
- Categorization: Classifying text into predefined categories.
- Intention Analysis: Predicting consumer behavior based on their statements.
- Summarization: Generating concise summaries of long documents.
Data Integration and Processing
Lexalytics connects to customers’ internal and external databases, warehouses, and data firehoses to gather and process text data. The platform can be deployed on-premise, in the cloud, or within hybrid infrastructure, offering flexibility and scalability.
Industry-Specific Solutions
The platform provides pre-built industry configurations and can be customized to meet specific needs. It is widely used in:
- Social Media Monitoring: Transforming social media data into structured insights.
- Customer Experience Management: Analyzing customer feedback and opinions.
- Voice of Customer (VOC) and Voice of Employee (VOE): Understanding customer and employee sentiments.
- Regulatory Compliance: Parsing complex regulatory, legal, and medical documents.
- Robotic Process Automation (RPA): Integrating text analytics into RPA platforms to handle unstructured document use cases.
Data Extraction Services
Lexalytics offers Data Extraction Services for semi-structured documents, which combine 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.
User Interface and Dashboards
The Lexalytics Intelligence Platform features intuitive analytics dashboards optimized for communicating stories from text analysis. These dashboards help in gathering, processing, analyzing, and visualizing text data in all its forms.
Delivery and Pricing
Lexalytics solutions are available as software libraries that can be integrated into other applications, and they can be deployed behind a customer’s firewall (on-premise) or in any cloud model. The pricing model is based on a subscription, with costs varying by the number of processing cores, the number of documents processed per month, document size, complexity of configuration, and custom features such as custom machine learning models and industry configurations.