Recommind has plans to change its focus on quickly finding things that have already happened to predicting what will happen. The San Francisco-based company is developing new predictive analytics products based on its machine learning and text analytics technology that identifies meaning to group together related documents quickly.
The company started out using its technology, which came out of research at the Massachusetts Institute of Technology and the University of California at Berkeley, for enterprise search. Now Recommind serves Global 1000 companies doing knowledge discovery on million of documents, mostly for internal legal or compliance research.
But Craig Carpenter, Recommind’s vice president of marketing and business development, said the company is developing new products that use its capability to understand meaning to predict trends based on information available online and internally, instead of researching what has already happened.
The company is also working to open its indexing and analytics platform to allow software developers to build applications on top of its technology, widening the number of business problems Recommind is able to solve.
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