The rise of big data, business intelligence and analytics tools of all types are creating incredible strategic new options for modern day startups. No longer are these tools and applications reserved for large enterprises, rather by tapping into the recent availability of APIs for such technologies, startups can easily and cost effectively speed application deployments which leverage the power of these technologies, avoiding months of engineering and design time. Specifically, Semantic technology, which allows for a deeper automatic understanding of text by working to quickly understand the meaning of words in context, has evolved to become a key strategic opportunity for startups to capitalize on a myriad of data sources and maintain a competitive edge.
Reaching Success Quickly
Startups face a crowded competitive landscape for ideas, people, products and investment. As a differentiating factor, the use of semantic technology solutions can help manage massive volumes of data with great accuracy and precision, and effectively increase their capabilities to easily and quickly find, share, and capitalize on knowledge and, as a result, create a faster path to generating revenue.
Developers and IT professionals can easily create and develop powerful and customized applications that offer precise knowledge, with the ability to read like humans to quickly and accurately consume and understand content.
Content Analysis is Key
What is possible with content analysis technology? Startup companies can use such technology to analyze structured, unstructured, and open source data, ranging from documents, websites, CRM applications, knowledge bases, to news reports, email, and other open source information assets. This will help them quickly learn about their market space, competition, potential customers, past startup lessons learned and more, to improve their chances of delivering a successful product to market.
Why is this important? The faster one can read and understand data, the quicker decisions can be made—whether that would be for a new product, key markets to target, or customer opinion. It can be the difference between providing a service everyone needs or providing service no one wants!
So as a bottom line, tapping into content analysis technology can allow startups to reach strategic, competitive, or performance objectives by accurately analyzing words in context and how words are related to each other.
Don’t Repeat the Mistakes of the Past
The early days of a startup can be much more successful when young companies have peers and partners that give advice, provide a new perspective and give the ability to learn from others’ mistakes. Nothing can slow down the path to revenue like repeating mistakes that others have already made. As demonstrated on sites like Autopsy.io, startups fail every day. But why do they fail? Poor product? Poor execution? Weak team? Startups can also use semantic technology to tell us why these startups have failed by examining data provided by the failed startups and automatically generating a fast and accurate understanding of text in its proper context and make sense of the information at hand.
It has been proven time and time again that starting a business is not an easy task. Today’s complex and competitive environment requires startups to be quick and effective. There is a true need for companies to harness big data and leverage text analysis in a new way for the next generation of startups.