Fellow text analytics colleagues,
I wanted to direct your attention to some industry news that broke today. It appears that Attensity—an OdinText competitor and a long time name in the text analytics software space—is selling its IP assets to InContact, a provider of call center solutions. (Read about it here.)
For people who’ve been watching the text analytics sector, this probably comes as no big surprise. It is well known that Attensity has been in the throes of some financial difficulty for a while. And just last month they sold their European business to an investment consortium. (Read about it here.)
It is my guess that Attensity’s text analysis software will be bundled into InContact’s portfolio as a value add for call center customers—essentially using the former’s basic NLP for a voice-to-text application and then to code results.
Whether or not Attensity’s product continues to exist in a standalone capacity, too, or what this means for their existing customers remains to be seen.
I think this development is noteworthy in part because Attensity was one of the earliest players in the text analytics space. In fact, even Claraview—the company from which Clarabridge was later spun off in 2006—initially licensed Attensity’s technology, before developing their own very similar tool.
As I noted in a very recent blog post, Attensity and Clarabridge both adhere to a rules-based approach that requires costly and time-consuming customization.
At the risk of being self-serving, it seems to me that as the text analytics market continues to mature and buyers become better informed, we’ll see increasing demand for more flexible solutions that are faster to get up and running and easier to use with a better total cost of ownership.
That’s good news for OdinText, but as the situation with Attensity suggests it doesn’t bode well for competitors with eight figure debt selling dated approaches.
That said, it is an extremely exciting time for industry as a whole with adoption continuing to increase as more and more use cases now move to clients ‘must have’ lists.
[NOTE: Tom is Founder and CEO of OdinText Inc.. A long time champion of text mining, in 2005 he founded Anderson Analytics LLC, the first consumer insights/marketing research consultancy focused on text analytics. In 2015 he founded OdinText SaaS which take a new, Next Generation approach to text analytics. He is a frequent speaker and data science guest lecturer at university and research industry events.]