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Thursday, 31 July 2014

Vision Critical makes text analytics acquisition

CANADA — Online community technology firm Vision Critical is adding text analytics to its product mix through the acquisition of DiscoverText.

The cloud-based tool can be applied to open-ended survey responses, email, discussions and social media conversations to analyse sentiment, discover trends and topics and identify emerging issues.

Vision Critical plans to use the software to automate the organisation and classification of hundreds of thousands of text records generated from within its clients’ insight communities.

CEO Scott Miller said: “This is a game changer for us, for our partners and for our clients.”

The acquisition follows a $20m investment in Vision Critical last August by pension fund giant OMERS.

DiscoverText, part of Texifter LLC, has been in development for 12 years and was created by Stuart Shulman, founder and CEO of Texifter, in the qualitative data analysis labs at the University of Massachusetts Amherst and the University of Pittsburgh.

Customers include Google, QVC-UK and the United States Fish and Wildlife Service. Shulman will be joining Vision Critical as vice president of text analytics and Mark Hoy, CTO of Texifter, will be taking on the role of senior architect of text analytics.

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