Coveo Launches New Multichannel Text Analytics Software

Coveo unveiled yesterday the latest version of its flagship software, Coveo 7.0. Equipped with multichannel text analytics, Coveo 7.0 allows users to organize unstructured information from diverse sources into themes or trends to identify new strategies and ways to better serve customers.

"It's accessible by everyone. The role-based consoles allow users to see data that's relevant to them and build linkages with other areas," says Ed Shepherdson, senior vice president of enterprise solutions at Coveo. "Marketers can track campaigns, while customer service can understand what's going on in the product area and quickly offer solutions."

Designed for mid-sized to large companies that process information from multiple channels, Coveo 7.0 gives users the ability to search, consolidate, correlate, and analyze information via a single interface.

Coveo 7.0 includes a new connector to Twitter, allowing companies to combine what customers are saying about a product on Twitter, for example, with support cases being logged on that product, as well as reports of bugs or defects for a deeper level of insight.

"What makes Coveo 7.0 powerful is that it gives you the ability to track and understand customer interactions," says Diane Berry, senior vice president of marketing and communication. "Whenever someone is talking about your company, you will know about it."

The software also allows users to analyze social communities, Web forums, and blog posts. It does not currently include a connector to Facebook, however. The social network was left out because Coveo's customers have not expressed an interest in it, Berry explains.

"Our customers, which are B2B companies with complex and multiple product lines, find that their customers are on Twitter but not on Facebook (many use Facebook for recruiting purposes rather than customer interaction), so they haven't asked for a connector to that community," Berry says. "However, we index multiple platforms, such as Jive, for community content, as well as blogs, wikis, etc. The value is in combining the social media content with enterprise content. We have a roadmap for additional connectors and build them as our customers and prospects indicate interest."

Other updated connectors include open database connectivity (ODBC), for databases; Salesforce.com, for CRM and collaboration; and JIRA, for bug fixes and engineering.

Coveo 7.0 also automatically defragments itself to ensure rapid query responses and includes support for indexing and searching in 45 languages.

The software will be available for purchase in the first quarter of 2012. Several companies, including CA Technologies and quick-service restaurant firm Yum! Brands, were involved in beta testing of the product.

The price ranges from $100,000 to $300,000 and depends on several factors, such as the number of users and the complexity of solutions needed.

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