• 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 today that it has named Cortical.io as the 2022 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.

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According to Manish Chand Thakur, Analyst, Quadrant Knowledge Solutions, “Cortical.io’s Text Analytics Platforms’ capabilities include its innovative approach to NLU, the ability to train models with fewer document sets, the ease of customization for various use cases and domains, and the provision of high accuracy through the combination of semantic folding and machine learning (ML) algorithms. The company also provides a semantic fingerprinting method that trains the system to encode the meaning of the text under analysis within a document and makes text computable, in a precise, transparent, and unambiguous manner. Cortical.io is capable of catering to diverse customer needs across industry verticals; with its comprehensive capabilities, compelling customer references, comprehensive roadmap and vision, cloud-native platform, and product suite with high scalability, has received strong ratings across technology excellence and customer impact and has been positioned as a leader in SPARK Matrix: Text Analytics Platforms, 2022.”

“The high variability of business documents poses a problem for text analytics tools. Our different approach to natural language understanding enables our solutions to solve new use cases with comparatively little training data,” said Thomas Reinemer, COO at Cortical.io. “Being recognized as the Leader in the 2022 SPARK Matrix for Text Analytics Platforms by Quadrant Knowledge Solutions shows how game-changing our technology is.”

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Quadrant Knowledge Solutions defines a Text Analytics Platforms as ‘a process that transforms unstructured and structured text into meaningful business insights. Text analytics software identifies and extracts real-time information from data, such as patterns, keywords, and other attributes. Natural language processing (NLP), machine learning (ML), deep learning technologies, and statistical and linguistic techniques are often used by the platform, allowing data leaders to derive insights from unmodeled content that was previously reserved for data professionals.

Some leading vendors offer features that facilitate continuous text analytics improvement in order to support the organization’s business intelligence initiative. These may support the creation of techniques that can convert content into text through optical character recognition (OCR), handwriting recognition, and speech to text (STT) to further augment the benefit of adopting text analytics platforms. Driven by the maturity of AI, and ML, text analytics platform vendors are increasingly augmenting text analytics capabilities to support advanced functionalities.