A quick Monday morning note:
Anyone who has looked into using text analysis technology very quickly realizes that the products available on the market require substantial investment. But, this is beginning to change.
Technology investment costs occur along three paths. Product license costs, Solution implementation costs and Internal time and effort to support on-going use of the technology. For Text Analysis, typically the benefits have had to be in the millions of dollars per year to justify the solution costs. As a result, like most technologies, bigger firms with bigger needs, and bigger potential benefit pools, are the ones to adopt first. So far, market development for text analysis tools is following this model.
Over time, vendors look to offer their products to larger markets by offering packaging that fits smaller benefit pools that are more broadly applicable to larger groups of potential customers. Again, text analysis is following this market development model.
Finland based Etuma Oy (www.etuma.com) has found a way to package its text analysis service so that it is easily affordable for almost any company seeking to better understand its free form text feedback. They have priced a new package of Etuma360 at roughly $400.00 per month. The package allows one stream of text data of up to 25,000 text items per month. It's based on a single named user but includes their "Research" and "Dashboard" analysis tools. Data sources can be customer surveys, facebook feeds, 3rd party websites or most anything else. But, for $5K / year a company can process a lot of text and get some very valuable analyses done on it. And, can do it simultaneously in 10 european languages.
Etuma's new offering should be perfect for companies that want to interpret free form text based customer feedback coming through a dedicated channel like a customer survey or a website based form. This kind of pricing model has the potential to really broaden the market for text analysis by taking something that was an enterprise type of decision and moving down to a departmental level decision in many companies.
Etuma will be making a product announcement fairly soon, I would guess. But, to me, this kind of pricing model makes an enormous amount of sense because many applications of text analysis are at the department level.
More to come on this......
Anyone who has looked into using text analysis technology very quickly realizes that the products available on the market require substantial investment. But, this is beginning to change.
Technology investment costs occur along three paths. Product license costs, Solution implementation costs and Internal time and effort to support on-going use of the technology. For Text Analysis, typically the benefits have had to be in the millions of dollars per year to justify the solution costs. As a result, like most technologies, bigger firms with bigger needs, and bigger potential benefit pools, are the ones to adopt first. So far, market development for text analysis tools is following this model.
Over time, vendors look to offer their products to larger markets by offering packaging that fits smaller benefit pools that are more broadly applicable to larger groups of potential customers. Again, text analysis is following this market development model.
Finland based Etuma Oy (www.etuma.com) has found a way to package its text analysis service so that it is easily affordable for almost any company seeking to better understand its free form text feedback. They have priced a new package of Etuma360 at roughly $400.00 per month. The package allows one stream of text data of up to 25,000 text items per month. It's based on a single named user but includes their "Research" and "Dashboard" analysis tools. Data sources can be customer surveys, facebook feeds, 3rd party websites or most anything else. But, for $5K / year a company can process a lot of text and get some very valuable analyses done on it. And, can do it simultaneously in 10 european languages.
Etuma's new offering should be perfect for companies that want to interpret free form text based customer feedback coming through a dedicated channel like a customer survey or a website based form. This kind of pricing model has the potential to really broaden the market for text analysis by taking something that was an enterprise type of decision and moving down to a departmental level decision in many companies.
Etuma will be making a product announcement fairly soon, I would guess. But, to me, this kind of pricing model makes an enormous amount of sense because many applications of text analysis are at the department level.
More to come on this......
