I ran across Leximancer doing research on technologies that can help with assessing brand perceptions from the volumes that are written about brands and companies via various communication channels. Specifically, how do you analyze all of the news stories, blog posts, broadcast transcripts, customer e-mails, etc. that a company is innundated with – what amounts to massive amounts of unstructured data – and figure out what it all means for your brand, its reputation and its key relationships?
These guys are originally academics from the University of Queensland in Brisbane, Australia. I think that’s why I like them. They’re not the best at marketing themselves, and I’d like to see them focus on simplifying how they communicate about their platform/brand and invest in some thought-leadership marketing around what is unique about their approach. That having been said, I think they’ve got something very interesting under the covers, and that’s probably why they recently landed some private funding via Imprimatur Capital.
From the company website …
Leximancer is the only company that provides deep and actionable insight into root causes of attitudes or problems. We give you the why, not just the what. / We do this by providing those that need insight into small or massive amounts of textual data – enterprises and organizations – the tools needed to make critical, high-impact decisions based on facts regarding customers, competitors, products or services.
Marketing Technology Innovation
What is interesting about these guys is that they have essentially translated concepts from the study of consumer behavior and network activation theory to relationships betwen marketplace information and communications. In many ways it looks like they are using the model of how the brain stores and relates information to how word and concept relationships are established in various societal settings. They get at this in their white paper. Using text mining and some complex algorithms, they are able to establish network-based relationships between words and content. This is critical insight to brand marketers attempting to monitor and measure brand perceptions and associations across diverse channels.
Most importantly, they can take large amounts of written data and summarize them visually. This is also critical if you are attempting to analyze brand-relationship associations and identify areas where you need to focus time and energy as a marketer. What concepts are typically associated with your brand? These guys can provide both relationships and context, which is great.
Results from the Field
Has anyone worked with Leximancer before? Do you have any thoughts or feedback on their technology or on related technology from competitors? Please share your ‘results from the field.’