Data analysis: it’s all about counting numbers, isn’t it? Not according to tech analytics firm Synapsify, which has just announced a thumping $600,000 in seed funding courtesy of ICG Ventures, Middleland Capital and Fortify Ventures.
Canny chief technology officers, chief revenue officers and business development associates won’t have failed to notice that the value of data analysis has been rising steeply over the last few months; last year, as payment fees declined, the value of payment data started to soar, driving new, sustainable business models not reliant on fees. And this is exactly where Synapsify’s unique approach to data analysis comes to the fore.
Beyond number crunching
Its website outlines its capabilities rather deftly. Here’s a quote:
“Synapsify’s technology can (i) read any type of written content based on several dimensions, (ii) reveal the quality, balance, credibility and quotablity of such content and its most important topics and phrases (iii) index and match against any other written content or customized indexes, and (iv) raise the ability to discover, understand and segment actionable insights.”
As CEO and co-founder Stephen Caldelmo puts it, “The world has become overwhelmed with written content that can no longer be curated and understood solely by costly human moderators.”
Synapsify’s technology goes well beyond one dimensional classifications (negative, positive, neutral) and simple keyword mentions. It measures the overall value of content from any website, and even measures it against the quality of competing content. Then it quantifies how much traffic a post on, say, MediaJobs.com might attract in comparison with a competitor.
An expansive technology
The potential applications are immense: its patented search and text analytics technology endows its clients with enormous abilities to evaluate content. Synapsify doesn’t just analyze how much people are spending, what they are watching and how much time they’re putting in to their online interests; it provides a carefully honed predictive analysis of what people, write, say, like and think.
Now, that’s bordering on the unnerving; Governments could use this technology to figure out what their citizens are up to on social networking sites. But it also permits much better moderation on website forums, and publishers could harness it to produce appreciably better-selling books.
The second quarter of 2013 will see Synapsify’s first collection of enterprise clientele as well as its API.