Researchers at the MIT Media Lab have developed technology solutions to uncover curious insights into consumer behavior using a technique called “text understanding.” This SaaS analytics technology, offered commercially by the Cambridge, Mass.-based startup Luminoso, gives computers the ability to understand human text communication the way people understand each other. It captures online consumer comments about companies and products and turns them into actionable business intelligence. Catherine Havasi, Luminoso’s co-founder and CEO observes:
This system can pull in chat, surveys, emails, and news articles and quickly offer insights into the opinions of those who wrote them. It can even understand allusion, metaphor, and the jargon of specific industries such as biotech or pharma.
According to Havasi, the Luminoso solution was born of her work with an ongoing research project at MIT Media Lab called the Open Mind Common Sense Initiative.
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