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 address 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) Capabilities
Lexalytics leverages NLP combined with artificial intelligence to analyze and understand complex text data. Key NLP functions include:
- Language Identification: Supports over 29 languages, determining 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, enhanced by Lexalytics’ proprietary Syntax Matrix™ technology, which parses text to understand phrase relationships within sentences.
Text Analytics Functions
The platform offers a range of text analytics functions, including:
- Sentiment Analysis: Analyzing the emotional tone or sentiment behind text.
- Named Entity Extraction: Identifying and extracting specific entities such as names, locations, and organizations.
- Theme Extraction: Identifying overarching 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 Deployment
Lexalytics solutions can be integrated into various environments:
- On-Premise: Deployed behind a customer’s firewall.
- Cloud: Available in any cloud model, including Lexalytics’ public cloud service.
- Hybrid Infrastructure: Flexible deployment options to suit different organizational needs.
Industry-Specific Applications
The platform is tailored for various industries and use cases, including:
- Social Media Monitoring: Transforming social media data into structured insights to understand consumer opinions and trends.
- Customer Experience Management: Analyzing customer feedback to improve customer satisfaction.
- Voice of Customer (VOC) and Voice of Employee (VOE): Capturing and analyzing customer and employee sentiments.
- Regulatory Compliance: Helping healthcare, pharmaceutical, and financial services companies comply with regulatory requirements by parsing complex legal and medical documents.
- Robotic Process Automation (RPA): Integrating text analytics into RPA platforms to handle unstructured document use cases efficiently.
Data Extraction Services
Lexalytics offers Data Extraction Services for semi-structured documents, which can analyze and structure documents from various formats (PDF, TXT, XML, HTML, Word) and export them into standard ERP systems and Excel. This service significantly reduces the time and labor costs associated with document data analysis and extraction.
Customization and Scalability
The platform is highly customizable and scalable:
- Pre-Built Industry Configurations: Tailored configurations for specific industries.
- Subscription Model: Pricing based on the number of processing cores or documents processed per month, with options for custom machine learning models and other features.
In summary, Lexalytics is a powerful text analytics platform that leverages advanced NLP and AI to provide deep insights from unstructured text data. Its versatility, scalability, and industry-specific applications make it a valuable tool for businesses seeking to enhance their decision-making processes and improve customer experiences.