Posts tagged SaaS
OdinText Names Andy Greenawalt CEO
Andy Greenawalt to lead OdinText accelerated growth phase

We are happy to announce serial Inc. 500 entrepreneur Andy Greenawalt as CEO effective June 1. OdinText founder and current CEO Tom H.C. Anderson will transition to the roles of Chief Research Officer and Chairman.

Andy Greenawalt

An accomplished tech entrepreneur and leader, Greenawalt has successfully built two Inc. 500 SaaS (software as a service) businesses. Most recently, he was CEO of Continuity, a pioneer in the Regulatory Technology industry, and he remains chairman of its board. Prior to Continuity, Greenawalt founded Perimeter eSecurity, now part of BAE Systems, serving as CEO and CTO and on its board. He is a graduate of the University of Massachusetts, Amherst with a degree in Philosophy and Cognitive Linguistics.

“With more Fortune 500 companies choosing OdinText, Andy Greenawalt’s credentials in innovation, his successful record of building SaaS businesses, and his singular focus on creating customer value make him a perfect fit to lead OdinText through its next phase of growth,” said Anderson.

“OdinText is a truly rare startup with Fortune 500 enterprise customers —  the most sophisticated buyers in the world,” said Greenawalt. “This is a testament to the vision and team that Tom Anderson has assembled and it’s a great position to be starting from as a pioneer in the text analytics market. The company is very well positioned to bring a new platform to bear and serve as a cornerstone to the smart enterprise of the future.”

Alison Malloy, the lead investor in OdinText from Connecticut Innovations, stated, “Connecticut Innovations has worked with Andy Greenawalt for 20 years. We have absolute confidence that he’s the right person to realize the market potential of OdinText — which has pioneered the next generation of text analytics — allowing Tom Anderson to focus on the research needed to continue to develop and lead the market with industry-leading products.”

“OdinText has developed patented IP, raised pre-seed funding and created an MVP product,” Greenawalt said. “OdinText is a transformative solution that is now poised to redefine how businesses improve satisfaction, retention and revenue. We expect to grow dramatically.”

Support OdinText - Make Data Science Accessible!

Take 7 Seconds to Support the OdinText Mission: Help Make Data Science Accessible! I’m excited to announce that OdinText will participate in the IIEX2016 Insight Innovation Competition!

The competition celebrates innovation in market research and provides a platform for young companies and startups to showcase truly novel products and services with the potential to transform the consumer insights field.

Marketing and research are becoming increasingly complex, and the skills needed to thrive in this environment have changed.

To that end, OdinText was designed to make advanced data analytics and data science accessible to marketers and researchers.

Help us in that mission. It only takes 7 seconds.

Please visit http://www.iicompetition.org/idea/view/387 and cast a ballot for OdinText!

You can view and/or vote for the other great companies here if you like.

Thank you for your consideration and support!

Tom

Tom H. C. Anderson Founder - OdinText Inc. www.odintext.com Info/Demo Request

ABOUT ODINTEXT OdinText is a patented SaaS (software-as-a-service) platform for natural language processing and advanced text analysis. Fortune 500 companies such as Disney and Coca-Cola use OdinText to mine insights from complex, unstructured text data. The technology is available through the venture-backed Stamford, CT firm of the same name founded by CEO Tom H. C. Anderson, a recognized authority and pioneer in the field of text analytics with more than two decades of experience in market research. The company is the recipient of numerous awards for innovation from industry associations such as ESOMAR, CASRO, the ARF and the American Marketing Association. Anderson tweets under the handle @tomhcanderson.

 

Attensity Sells IP to InContact: What Does it Mean?

Goodbye to Attensity, an early text analytics pioneer Attensity

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.

@TomHCAnderson

 

[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.]

OdinText Wins American Marketing Association Lavidge Global Marketing Research Prize

OdinTextAnalyticsAwardAMA AMA Honors Cloud-Based Text Analytics Software Provider OdinText for Making Data Science Accessible to Marketers

OdinText Inc., developer of the Next Generation Text Analytics SaaS (software-as-a-service) platform of the same name, today was named winner of the American Marketing Association’s  2016 Robert J. Lavidge Global Marketing Research Prize for innovation in the field.

The Lavidge Prize, which includes a $5000 cash award, globally recognizes a marketing research/consumer insight procedure or solution that has been successfully implemented and has a practical application for marketers.

According to Chris Chapman, President of the AMA Marketing Insights Council, OdinText earned the award for its contribution to advancing the practice of marketing by making data science accessible to non-data scientists.

“Consumers are creating oceans of unstructured text data, but putting this tremendously valuable information to practical use has posed a significant challenge for marketers and companies,” said Chapman.

“The nominations for OdinText highlighted how the company has distilled very complex applied analytics processes into an intuitive tool that enables marketers to run sophisticated predictive analyses and simulations by themselves, quickly and easily. This is exactly the kind of practical advancement we look for in awarding the Lavidge Prize,” added Chapman

The cloud-based OdinText software platform enables marketers with no advanced training or data science expertise to harness vast quantities of complex, unstructured text data—survey open-ends, call center transcripts, email, social media, discussion boards—and to rapidly mine valuable insights that would not have been otherwise obtainable without a data scientist.

“Marketing is evolving, getting both broader and deeper in terms of skill sets needed to succeed,” said FreshDirect Vice President of Business Intelligence and Analytics Jim DeMarco, who nominated OdinText for the Lavidge Prize.

“OdinText provides marketers with the capability to access more advanced analysis faster and helps the business they work on gain an information advantage. This is exactly the kind of innovation our industry needs right now,” DeMarco said.

The Lavidge Prize was presented in a special ceremony today at the AMA’s 2016 Analytics with Purpose Conference in Scottsdale, AZ. OdinText CEO Tom H. C. Anderson—a recognized authority and pioneer in the field of text analytics with more than two decades of experience in market research—accepted the award on behalf of the firm.

“One of our goals in creating OdinText was to build the tool from an analyst’s perspective, not a software developer’s, so that a marketer armed with OdinText could derive the same insights but faster than a data scientist using traditional techniques and tools,” said Anderson.

“To be recognized for this achievement by the AMA—one of the largest and most prestigious professional associations for marketers in the world, which has devoted itself to leading the way forward into a new era of marketing excellence—is deeply gratifying,” said Anderson.

 

ABOUT ODINTEXT

OdinText is a patented SaaS (software-as-a-service) platform for natural language processing and advanced text analysis. Fortune 500 companies such as Disney and Shell Oil use OdinText to mine insights from complex, unstructured text data easily and rapidly. The technology is available through the venture-backed Stamford, CT firm of the same name founded by CEO Tom H. C. Anderson, a recognized authority and pioneer in the field of text analytics with more than two decades of experience in market research. He tweets under the handle @tomhcanderson.

For more information, visit OdinText Info Request

ABOUT THE AMERICAN MARKETING ASSOCIATION

With a global network of over 30,000 members, the American Marketing Association (AMA) serves as one of the largest marketing associations in the world.  The AMA is the leading professional association for marketers and academics involved in the practice, teaching, and study of marketing worldwide.  Members of the AMA count on the association to be their most credible marketing resource, helping them to establish valuable professional connections and stay relevant in the industry with knowledge, training, and tools to enhance lifelong learning.

For more information, visit www.ama.org

OdinText Wins 2015 CASRO Research Award

CASRO Honors OdinText’s Innovative Next Generation Text Analytics Software at 40th Annual Conference OdinText, a provider of cloud-based analytics software, today announced that its Next Generation Text Analytics software-as-a-service (SaaS) product, has been awarded the Research Entrepreneur of the Year award by CASRO, an organization that represents more than 300 companies and market research operations.

The award honors organizations that—through the excellence of their work, professionalism of their practice, and integrity of their conduct— exemplify the best work in the research industry. The award also acknowledges an organization that has introduced a new direction or service to its research business portfolio and provides leading-edge and innovative services that expand traditional market, opinion, and social research.

Recognized for its patented SaaS technology, OdinText allows companies to analyze large amounts of unstructured and mixed data. OdinText can be used across various types of data including but not limited to survey research, email and telephone data, discussion board ratings, and news articles.

“At OdinText, we don’t see a difference between structured and unstructured data - text mining and data mining – they are far more meaningful together,” said Tom H. C. Anderson, CEO of OdinText. “We are honored to be recognized by CASRO, an organization that has such a long history of championing innovative and sound research techniques.”

In addition to exploring patterns in the data and allowing users to confirm hypothesis, OdinText suggests key relationships in the data that may be overlooked by the user. The software also allows for one-step simulation and predictive analytics.

“Marketing research is evolving, getting both broader and deeper in terms of skill sets needed to succeed,” said Jim DeMarco, vice president of business intelligence and analytics at FreshDirect. “OdinText provides researchers with the capability to access more advanced analysis quicker and helps the business they work on gain an information advantage. This is exactly the kind of innovation our industry needs right now.”

The Coca-Cola Company as well as online grocer, FreshDirect sponsored OdinText’s nomination and the company received the award at CASRO’s 40th Annual Conference, in addition to the $5,000 prize.

“The work of OdinText is indicative of the exciting new methodologies and technologies which are having an increased influence on our changing industry,” said Diane Bowers, president of CASRO. “Acknowledgement of this type of work and the financial support that accompanied this honor highlights our role as a leader in the future of our industry.”

 

About OdinText Inc. OdinText’s Next Generation Text AnalyticsTM turns market researchers into data scientists. The powerful cloud-based software helps users discover patterns and trends in complex unstructured text data. Visit www.odintext.com to learn more or schedule a demo. Backed by Connecticut Innovations and private investors, OdinText is a privately-held company based in Stamford, Conn. Request more information here.

When Text Analytics is Your Brand

When Text Analytics is Your BrandWhat I learned about personal branding at IIEX

Coming back from Insight Innovation Exchange (IIEX) this week in Atlanta and thought I’d blog briefly about the two panel sessions on Personal/Digital Branding in which I participated.

 

Text Analytics

My main reason for attending IIEX was actually to give a brief presentation on the dramatic improvements we've made to our OdinText text analytics software, and how it brings value to untapped consumer text data (open-ends, NPS reasons, customer feedback, website comments, etc.), and how it can really turn any market research analyst into a powerful Data Scientist. Because of IIeX’s stellar reputation, this was the first time we’ve ever given any kind of demo of OdinText in public. Usually our presentations are approved case studies about how our clients like Coca-Cola, Disney, Shell Oil, etc. are using the tool. Also, as text analytics remains a very competitive field, we prefer to share details around the software with those we know have the kind of data where OdinText can be useful.

 

However, since we are launching a new version of OdinText and I was assured by Lenny Murphy that, contrary to what I believed, most attendees actually want to see software demos rather than just hear use cases. In case you missed it, I've posted a brief teaser video below, along with a shameless plug before I go on. If you regularly collect comment type text data, we’d love to hear from you and get you more info about OdinText (Request Info Here). Shameless ad plug over.

.

 

 

Personal Branding

Other than showing off OdinText though, I was also honored to be asked to sit on a personal branding panel with prolific market research tweeters Tom Ewing and Annie Pettit, as well as Dave McCaughan who is a well-known name in East Asian and Australian market research circles.

On the Summer Friday (at 5:30pm no less) before our Monday morning session, Annie Pettit came up with the idea to field an impromptu convenience sample survey, and to my surprise by Sunday afternoon we already had about 150 comments relating to the panelists. Lenny Murphy who has also accumulated a loyal #MRX following on Twitter and on the Greenbook blog was also included in the survey which asked something like “Q. What three things first come to mind when you hear each of these names/personal brands?”.

Though this sample is a bit on the small side for OdinText I quickly visualized the comments to give us some idea of how similar/different each of these 5 ‘brands’ are and what specific topics most frequently co-occur with each of them.

HowSilimarAreTheyIIEXOdinTextviz3

I’m sure all of us were equally interested in the findings, because let’s face it, while EVERYONE has a personal brand (even if unfortunately not everyone recognizes it), few of us ever get an insight into what it really means to people in this unaided top-of-mind market research sort of way.

We agreed not to share any of each other’s raw data, but I’m fine sharing the first 40 responses I received (both good, bad and ugly) below, sorted alphabetically:

American linked in conversationalist

Analytical, ever-present, helpful analytics omnipresent

analytics geek

Arrogant

beard, omnipresence and self publicity

Clever

controversial

Cool Guy

Entreprenuer

Fun honest text analytics

Hans Christian Anderson

He's all about new, cool & hip in the quant world

His banner ads pursue me remorselessly around the web marketing

inconsiderate

Innovative

know his name but can't recall...

Lover of anything that reminds him of the Swedish socialist utopia

money-face

MR. NGMR!

next gen guy

odin text - text pro

OdinText Text Analytics, smart, trustworthy

Opinionated

rebel

Research

respected, helpful, innovative smart

Self promoter

Social media junkie

straight shooter. willing to challenge hyped claims. maybe falling too in love with his own methodology

text analysis

text analytics

text analytics odintext

Text analytics pro

Text Analytics, expert, outspoken, industry leader,

text analytics, NGMR, vikings

Text master, text Analytics

The first to advocate Next Gen Market Research, especially Text Analytics and Data Mining,

The first market researcher to truly understand social, AND bold enough to stand up against trade orgs on behalf

of mid-small research firms. A true research hero

Tom is a great example of focusing on one thing you really care about and want to make better,

and then actually doing that..

Tweeted this survey

up against trade orgs on behalf of mid-small research firms. A true research hero.

A first thing that struck me looking at both the responses for my ‘brand’ as well as those of the others on the panel was that the negative comments, while few overall, were also rather consistent proportionately across all of us.

I think this may have come as a surprise to some of the others, but I expected a few negative remarks related to some of the positions I’ve taken about market research. While I believe the majority of US researchers agree with me, my positions weren’t as welcome by an outspoken few researchers more closely associated or working for these trade organizations. So the question is, as it relates to our personal brands, should we shy away from controversy (as long as it’s not personal or destructive in nature)? And the answer is, I don’t think it’s hurt my brand at all; controversy often leads to change, and usually change for the better. I'm happy to be associated with these issues, and do not fear ruffling feathers.

Of greater importance, and more surprising to me, was that our company brands were almost never mentioned for any of us. I’ve been concerned whether my comments related to other areas of consumer insights research have taken away from what I really want to be known for, OdinText and Text Analytics. The good news was that when market researchers who know me think of me, they think “Text Analytics”. The bad news was that few mention the brand OdinText. But how bad is this really?

A few months ago I wrote about personal branding and Kristin Luck (someone else whom I definitely think should also have been on the panel). You can read that piece here, however, I think the main point is that personal brands undoubtedly create a different and more complex association network in the minds of people than corporate brands or logos do.

 

This can’t be a bad thing, I believe they are complimentary. If people think Tom H. C. Anderson = Text Analytics, they also are likely to think Text Analytics = Tom H. C. Anderson, and so when they have a need for text analytics, some will think of me, and then OdinText (even if the brand OdinText doesn’t first come to mind).

I’m not sure what the association network is for uber personal brands like Bill Gates or the late Steve Jobs, but I would venture to guess it’s similar. Surprisingly perhaps, Microsoft and Apple may well not be the first thing that comes to mind when someone first thinks about these two individual brands. Both really are far more complex than either of the company brands Microsoft and Apple. The individuals stand for so much more (philanthropy, design, success, strength, perseverance, intelligence, innovation…).

Definitely an interesting area, and one that could use more research, aided by text analytics of course, and OdinText ideally .

My takeaway and advice to other market researchers is that personal branding is a good thing. It’s a complex thing, and that’s a good thing. Unlike a simple company product or logo, we as people are deeper and have ability to encompass far more, and deeper dimensions. I believe these personal brands, as I know from experience is the case for both myself and Kristin Luck, have been very beneficial to the companies associated with us. It’s a truism, that this is a people business, and people buy from people.

I encourage everyone to give some thought to their personal brands. Unlike corporate brands they don’t have to be perfect. If they were, they would be very boring and one dimensional. Just be you – and let others know it!

Tom

 

[Tom H. C. Anderson is Founder & CEO of Text Analytics SaaS firm OdinText (www.OdnText.com). He tweets under @TomHCAnderson, blogs at www.tomhhcanderson.com and manages one of the largest and most engaged market research groups on LinkedIn, Next Gen Market Research.]

Text Analytics for 2015 – Are You Ready?

OdinText SaaS Founder Tom H. C. Anderson is on a mission to educate market researchers about text analytics  [Interview Reposted from Greenbook]

TextAnalyticsGreenbookJudging from the growth of interest in text analytics tracked in GRIT each year, those not using text analytics in market research will soon be a minority. But still, is text analytics for everyone?

Today on the blog I’m very pleased to be talking to text analytics pioneer Tom Anderson, the Founder and CEO of Anderson Analytics, which develops one of the leading Text Analytics software platforms designed specifically for the market research field, OdinText.

Tom’s firm was one of the first to leverage text analytics in the consumer insights industry, and they have remained a leader in the space, presenting case studies at a variety events every year on how companies like Disney and Shell Oil are leveraging text analytics to produce remarkably impactful insights.

Lenny: Tom, thanks for taking the time to chat. Let’s dive right in! I think that you, probably more so than anyone else in the MR space, has witnessed the tremendous growth of text analytics within the past few years. It’s an area we post about often here on GreenBook Blog, and of course track via GRIT, but I wonder, is it really the panacea some would have us believe?

Tom: Depends on what you mean by panacea. If you think about it as a solution to dealing with one of the most important types of data we collect, then yes, it can and should be viewed exactly that way. On the other hand, it can only be as meaningful and powerful as the data you have available to use it on.

Lenny: Interesting, so I think what you’re saying is that it depends on what kind of data you have. What kind of data then is most useful, and which is not at all useful?

Tom: It’s hard to give a one size fits all rule. I’m most often asked about size of data. We have clients who use OdinText to analyze millions of records across multiple languages, on the other hand we have other clients who use it on small concept tests. I think it is helpful though to keep in mind that Text Analytics = Text Mining = Data Mining, and that data mining is all about pattern recognition. So if you are talking about interviews with five people, well since you don’t have a lot of data there’s not really going to be many patterns to discover.

Lenny: Good Point! I’ve been really impressed with the case studies you’ve releases in the past year or two on how clients have been using your software. One in particular was the NPS study with Shell Oil. A lot of researchers (and more importantly CMOs) really believed in the Net Promoter Score before that case study. Are those kinds of insights possible with social media data as well?

Tom: Thanks Lenny. I like to say that “not all data are created equal”. Social media is just one type of data that our clients analyze, often there is far more interesting data to analyze. It seems that everyone thinks they should be using text analytics, and often they seem to think all it can be used for is social media data. I’ve made it an early 2015 new year’s resolution to try to help educate as many market researchers as I can about the value of other text data.

Lenny: Is the situation any different than it was last year?

Tom: Awareness of text analytics has grown tremendously, but knowledge about it has not kept up. We’re trying to offer free mini consultations with companies to help them understand exactly what (if any) data they have are good candidates for text analytics.

Lenny: What sources of data, if any, don’t you feel text analytics should be used on?

It seems the hype cycle has been focused on social media data, but our experience is that often these tools can be applied much more effectively to a variety of other sources of data.

However, we often get questions about IDI (In-Depth-Interviews) and focus group data. This smaller scale qualitative data, while theoretically text analytics could help you discover things like emotions etc. there aren’t really too many patterns in the data because it’s so small. So we usually counsel against using text analytics for qual, in part due to lower ROI.

Often it’s about helping our clients take an inventory around what data they have, and help them understand where if at all text analytics makes sense.

Many times we find that a client really doesn’t have enough text data to warrant text analytics. However this is sad in cases where we also find out they do a considerable amount of ad-hoc surveys and/or even a longitudinal trackers that go out to tens of thousands of customers, and they’ve purposefully decided to exclude open ends because they don’t want to deal with looking at them later. Human coding is a real pain, takes a long time, is inaccurate and expensive; so I understand their sentiment.

But this is awful in my opinion. Even if you aren’t going to do anything with the data right now, an open ended question is really the only question every single customer who takes a survey is willing and able to answer. We usually convince them to start collecting them.

Lenny: Do you have any other advice about how to best work with open ends?

ODIN AD 1 300X250

Tom: Well we find that our clients who start using OdinText end up completely changing how they leverage open ends. Usually they get far wiser about their real estate and end up asking both less closed ended questions AND open ended questions. It’s like a light bulb goes off, and everything they learned about survey research is questioned.

Lenny: Thanks Tom. Well I love what your firm is doing to help companies do some really interesting things that I don’t think could have been done with any other traditional research techniques.

Tom: Thanks for having me Lenny. I know a lot of our clients find your blog useful and interesting.

If any of your readers want a free expert opinion on whether or not text analytics makes sense for them, we’re happy to talk to them about it. Best way to do so is probably to hit the info request button on our site, but I always try my best to respond directly to anyone who reaches out to me personally on LinkedIn as well.

Lenny: Thanks Tom, always a pleasure to chat with you!

For readers interested in hearing more of Tom’s thoughts on Text Analytics in market research, here are two videos from IIeX Atlanta earlier this year that are chock full of good information:

Panel: The Great Methodology Debate: Which Approaches Really Deliver on Client Needs?

Discussing the Future of Text Analytics with Tom Anderson of Odin Text

The N in Text Analytics: Text Mining with Different Sample Sizes

 [Interview Reposted with Permission From Jeffrey Henning's ResearhAccess] runes of old

I recently had the opportunity to interview Tom H. C. Anderson, the founder of Anderson Analytics, about his ongoing application of text analytics to market research.

Q: What’s the process for optimally using text analytics with survey verbatim responses?

A: Well, that patented process is something that we’ve obviously put a lot of time and thought into with OdinText, and something that continues to evolve.

Generally speaking though I can say it’s important to look beyond the individual sentences, and not to get wrapped up in linguistically derived sentiment. The mistake I see being made most often is that text analytics is approached as a replacement for human coding. In our view they are apples and oranges. Yes, text analytics can replace human coding. But coding is just a small part of what we do: our real focus is on analytics, and often that means that the optimal use of verbatim responses is predictive analytics. That is the optimal use of survey verbatims.

Q: Is there a minimal sample size this makes sense for?

A:  I wouldn’t say that there’s a minimum size per se, though I would say that the ROI of text analytics increases exponentially with the size of the data. In our point of view “Natural Language Processing”, “Text Analytics”, “Text Mining” and even “Data Mining” are all synonyms, the last two of which are a better description of the process. What that means is that without a certain minimum size of data there will be no meaningful patterns to find (to mine).

Focus group data generally is not suitable for text analytics. It’s partly because the n is so small. But also because — although they can produce a large amount of text in total — this text is heavily influenced by the moderator. It very much depends on the data though. The smallest data size ever looked at in OdinText had sample size of n=2. This was the Obama/Romney debates, and each candidate spoke for about 45 minutes. More typically, though, text analytics is used to analyze tens of thousands, or hundreds of thousands, of records. These data are either from customer satisfaction/loyalty survey trackers, customer service center telephone transcripts or emails, or yes, social media.

Many of our customers do find text analytics useful for smaller ad-hoc survey data with sample sizes around n = ~1,000 as well. Once you are up and running with text analytics, it’s very easy and fast to use text analytics to get insights from data such as this. But you are somewhat more limited with the kinds of analysis that you can do with these smaller data sets. But if you do enough of these ad-hoc projects, text analytics can certainly provide relatively good ROI here too.

Q: Is it better suited for tracking studies rather than one-off surveys?

A: Better ROI with bigger better data. If you only do 5 to 10 ad-hoc surveys per year with an average of n=300, then text analytics may not be worth it.  As you move beyond this, it becomes more and more valuable.

Q: My initial impression after first hearing about your NPS work was simply that you improved the value of the survey by adding text analytics. But it seems like you are really about a holistic process, using CRM data and other information to build a predictive model. What are the data sources that you find produce the best value? While I think of Odin Text as text analytics, is it actually a predictive analytics solution whose differentiation is its text analytics capabilities?

A: Well, yes, you are right that OdinText is a text analytics system. We are not trying to become the next SAS or SPSS, per se; both of them have some good packages for basic statistics. Where OdinText is best is when there is also text data, and when the data gets bigger. Our clients are often working with data sets so large that they would take too long to run or more typically crash SPSS and the like. Working with text data requires more computing power. That’s something we are able to offer through our SaaS model.

In the case you mentioned, Shell was using OdinText to analyze their n = ~400,000 Jiffy Lube Net Promoter survey data. We suggested that they add some data from their CRM database, so they added actual behavioral data: visits as well as sales.

This is a unique strength to OdinText. We don’t believe it makes much sense to analyze text in isolation. We are building more analytics capabilities into OdinText currently.

Q: The text analytics space is very crowded — I’ve personally look at over 20 platforms. What sets Odin Text apart from other systems?

Three things, really all tied to our patented approach to text analytics:

  1. The way we allow you to use mixed data not just text.
  2. The way we filter our ‘noise’ and alert the analyst to things they might not have considered.
  3. And finally, our approach, while powerful, is also intuitive. We recognized early on that most clients don’t have any relevant training data, and when they do, using it to build models would just be mimicking inferior human coding. So unlike other enterprise solutions that require a lot of custom set up, our approach was developed to work very well off the shelf: it’s far more nimble in being able to deal with different data sources.

Jeffrey Henning, PRC, is president of Researchscape International, which provides “Do It For You” custom surveys at Do It Yourself prices.  He is a Director at Large on the Marketing Research Association’s Board of Directors. You can follow him on Twitter @jhenning.