• The Quadrant Knowledge Solutions SPARK Matrix provides competitive analysis & ranking of the leading Text Analytics Platforms vendors.

• Cortical.io, with its comprehensive technology and customer experience management, receives strong ratings across the parameters of technology excellence and customer impact.

Quadrant Knowledge Solutions announced that it has named Cortical.io as a 2023 technology leader in the SPARK Matrix analysis of the global Text Analytics Platforms market.

The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.

According to Madhu Kittur, Analyst, Quadrant Knowledge Solutions, “Cortical.io through its SemanticPro platform, offers text analytics solutions that enable users to extract & analyze and classify & automate unstructured content, increasing speed and accuracy of document-centric workflows. The company majorly caters to the European and North American markets to cater to multiple use cases in multiple languages such as Insurance Quoting Group Benefits, Insurance Policy Comparison, Managing Large Email Volumes, and Collecting Insights from Social Media. The company leverages Natural Language Understanding to improve the efficiency of document analysis. Cortical.io has developed a proprietary neuroscience-inspired method for processing text and uses semantic fingerprints to encode all contexts and efficiently compute large volumes of documents. The platform offers transparent AI with results that are inspectable at the bit level, allowing biases to be easily identified and eliminating expensive, lengthy fine-tuning procedures.” She further adds, “Cortical.io has received strong ratings across the parameters for technology excellence & customer impact and has been placed as a leader in the SPARK Matrix^TM: Text Analytics Platform, Q2, 2023, owing to its flexible pricing structure, comprehensive technology features, compelling customer references, and comprehensive roadmap & vision.”

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Quote by Cortical.io

“We are thrilled to have been positioned as a leader in the 2023 SPARK Matrix for Text Analytics Platforms for the second year in a row,” says Rainer Kegel, CEO of Cortical.io. “This is a true acknowledgement of our distinctive ability to understand the meaning of complex documents and transform processes where tedious and error-prone manual review is still the rule.”

Text analytics involves processing semi-structured and unstructured documents to derive meaningful data for analysis promoting relevant automation and critical business insights. Text analytics solutions make use of machine learning algorithms to perform lexical analysis, categorization, clustering, pattern recognition, information extraction, and visualization for deriving patterns and trends enabling critical actions and insights in relation to the available text data. Making use of speech-to-text technology, optical character recognition (OCR), natural language generation (NLG) and visualization techniques the text analytics pipeline ensures detailed measurement of customer opinions, product reviews and feedback, sentimental analysis, and entity modeling. Text analytics software solutions providers offer analytics through algorithm-based applications for ease of data extraction and storage within data warehouses. This promotes critical use cases including improved customer sentiment analysis and customer feedback processing, identification of probable fraud and ensuring associated legal and compliance adherence and enhanced real-time market intelligence ensuring enhanced information capture.

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