Text Analytics – It Takes Time

October 26th, 2009

Flickr Image: El Ray

by Jeffrey Barrett*
Last week I got to listen to a quick presentation, Mining Emotion From Data: Sentiment Analysis Meets Faceted Research, sponsored by Endeca. The focus: how Financial Times’ Newssift and a Thomson Reuters trading support product line – two financial news products – leverage generic and specialized text analytics tools, such as sentiment analysis and geographic mappings.

At the end of the presentations a rather open dialog took place between Rich Brown of Thomson Reuters and Robin Johnson of Newssift. Some interesting questions were raised concerning the use of and implications of these new “real-time” text analytics based systems. During the discussion, Johnson displayed, with humor and grace, a level of honesty regarding some technical aspects of Newssift.

 For me, the main take away from the discussion was that these systems take time (as in years) to build out and careful attention to the business and technical implementation is required. I also found it interesting that the current data set for Newssift is still relatively small at about six million documents with roughly 100,000 new documents a day – pushing their current implementation rather hard; I look forward to seeing its evolution and expansion.

It was also great to hear from Jeff Catlin, CEO of Lexalytics, who commented on some of the often subtle aspects of the industry, from ROI to technical concerns.

While the Thomson product is only available to those that pay up some big money, Newssift.com is free. If you give either a spin, let us, here at BurrellesLuce Fresh Ideas, know how navigating structured search worked for you.

*Bio: Currently I am the chief architect of BurrellesLuce 2.0, the portal used by thousands of PR professionals to monitor, share, organize, and measure online and print news. I started as a web developer for Merck & Company and I am an accomplished technologist with a focus on large scale system architecture and implementation. With over ten years of experience designing and deploying technical solutions for a wide range of companies, I most recently managed web projects for NBC Universal, where I delivered social networking applications and supported high traffic applications. Prior to that, I served as director of technology for Silver Carrot, a marketing firm, creating and delivering the technology that powered high-performance online campaigns. In my spare time, I enjoy reading about economics and anything that has to do with modeling social interaction and social media. LinkedIn: Jeffrey Barrett; Twitter: @BurrellesLuce; Facebook: BurrellesLuce

One Response to “Text Analytics – It Takes Time”

  1. […] This post was mentioned on Twitter by ValerieSimon, Johna Burke and Debbie Friez, BurrellesLuce. BurrellesLuce said: "Text Analytics – It Takes Time" BurrellesLuce blogger Jeff Barrett recaps. http://budurl.com/au45 […]

Leave a Reply