Chicago, Sept , 2015
– Company Launches Expert IQ Report Series Designed to Provide Semantic Analysis of Unstructured and Open Source Data
Expert System (EXSY.MI), the leader in multilingual semantic intelligence technology for the effective management of unstructured information, today announced the release of its first Expert IQ Report, titled, Why do Startups Fail? An Analysis of Autopsy.io. The report is a result of an analysis the company conducted on Autopsy.io, a site dedicated to failed startups that is chalk full of powerful lessons learned.
In an effort to gain insight on key themes around failure, Expert System used its Cogito content analysis technology, which works to quickly and accurately understand text as humans do by establishing precise connections between not just words, but more importantly, concepts. In using natural language processing and semantic intelligence technology, the company was able to analyze the data and provide intelligent insights into the challenges new startups encounter.
“What’s always exciting about running this type of analysis is what you uncover; it’s always a bit of the unexpected, but critically important knowledge when applying it to business decisions,” said Luca Scagliarini, CEO, Expert System USA. In this case, taking for instance that issues with the product were more of a reason for failure than having customers or a market to serve, proved to be interesting. We tend to see similar situations in our own customer environments. The Autopsy.io collective insights can serve as a valuable learning source for entrepreneurs as they go on their startup journey themselves.”
Key data analysis conducted revealed reasons for failure, post mortem analysis, emotions tied to failure, who is to blame and what was really trying to be accomplished, along with other items. For example Expert System determined the top 10 concepts cited when describing failure were Company, Product, Investor, Startup, Money, App, Team, Website, Market, and Client. Additionally, when analyzing the post-mortem comments to determine the specific reasons for the eventual demise of these companies, entrepreneurs were quick to point out a particular problem that that led them to eventually fail. Additionally, individuals often recognized their failures admitting to particular mistakes, when the business became too difficult, or they made a wrong decision.
Produced using Expert System’s Cogito content analysis platform, the Expert IQ Reports is a regular series that looks to provide deep content analysis from the massive amounts of data from a given current event, person or topic within the enterprise, government, financial, pharmaceutical, and oil and gas industries. The Expert IQ Reports demonstrate the value of using content analysis technology to automatically generate a fast and accurate understanding of unstructured text, working to read, comprehend and analyze text as humans do by establishing precise connections between not just words, but more importantly, concepts.