OpenText Licensing Agreement Brings Advanced Content Analytics to Market
Waterloo, Ontario –
OpenText (NASDAQ: OTEX, TSX: OTC) announced today that the company will bring content analytics capabilities to market for improved business productivity through an Intellectual Property (IP) licensing agreement with the National Research Council of Canada (NRC). The NRC innovations will be incorporated into OpenText's flagship Enterprise Content Management (ECM) Suite, with the first version expected to be available by spring, 2011.
"OpenText is pleased to collaborate with the National Research Council of Canada to commercialize leading-edge technology that fundamentally brings more powerful content analytics capabilities to the enterprise," said Eugene Roman, Chief Technology Officer at OpenText.
Businesses and governments are increasingly engaging with workers, partners and customers across a range of electronic and social media to collaborate, find new ideas, measure sentiment, identify important trends and predict future outcomes based on content analytics. With added content analytics capabilities incorporated into the OpenText ECM Suite, businesses will gain more value from their content through improved data mining and analysis.
"Content analytics is the key to extracting business value from social media and text-rich online and enterprise information sources, an essential technology for marketing, online commerce, customer service, and improved search and Web experience. Given the mind-boggling growth in information volumes, no wonder uptake is booming, powered by rapid technical advances from leading-edge vendors such as OpenText," said Seth Grimes, analytics strategist with Alta Plana Corporation.
Research and development (R&D) for the new project is already under way in the Ottawa NRC facilities in collaboration with OpenText's Montreal R&D center that develops its content analytics solutions, based on the acquisition of Nstein Technologies last year. The project is focused on developing software for analyzing large collections of structured and unstructured data that reside within organizations.
"Analysis of information, which can be described as a mixture of social and enterprise content managed in silos, is critical in order to provide valuable, actionable business insight," Roman explained. "With this solution, businesses will have the ability to source increasingly precise responses related to specific business questions which can save them time and money."
Content Analytics addresses the discovery of answers to those important business questions through the use of semantic technologies such as natural language processing and sentiment analysis. The collaboration between the National Research Council of Canada and OpenText will enable more efficient data mining capability to locate entities –names, product brands, geographic locations, currencies, ticker symbols for example – plus uncover facts such as financial statements, merger and acquisition announcements, etc. and then connect relationships between those entities and facts. The software can search for pieces of text or metadata that cannot be specified in common search engines, and the results from those queries can be presented much more flexibly than would be possible using traditional business intelligence solutions.
In April 2010, OpenText announced its Content Analytics strategy whereby OpenText will be the first vendor to make content analytics pervasive across an entire ECM suite of products. OpenText's ECM Suite 2010 has wide ranging new functionality covering 90 products and modules linked through a consistent integration framework, and spanning everything from compliance, business process management and portals to integrated mobile experience and enterprise information archiving. The result gives customers the most complete content management environment available to handle the vast array of content types, languages, applications, user needs and business processes in their organizations.
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OpenText, a global ECM leader, helps organizations manage and gain the true value of their business content. OpenText brings two decades of expertise supporting 100 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts™ to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on Open Text's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. Open Text's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see Open Text's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, Open Text disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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