Where Are They Now? IIeX EU 2016 Competition Winner Heartbeat.ai
At IIeX EU in 2016 the winner of the Insight Innovation Competition was a unique emotionally-based text analytics solution led by our first female CEO winner, Lana Novikova of Heartbeat.ai. Now almost a year later, and in honor of the next round of the IIeX EU Competition next week, I decided it would be interesting to touch base with Lana on the Heartbeat journey, where they are now and where they are going.
First, a bit about their SaaS platform in their own words:
True deep insights can’t be found among scores and scales. Numbers have a definite role in research, yet only words and actions can point to our true hearts’ desires. Like raw diamonds, words often need skilled work to transform into a genuine sparkle.
Survey open-ended comments that contain deep insights into human emotions, needs and motivations, often get discarded. Manual data coding is time consuming and labour intensive, pricey and inconsistent from study to study. HEARTBEAT brought together market research, psychology, neuroscience, data analytics, and technology to enable researchers to find and polish these “insight diamonds” – quickly, affordably, and consistently.
You’ll notice the use of almost poetic language in their description, which is absolutely “on brand” for Lana and her team; they approached the development of their platform not as an exercise in technology advancement but as an effort to combine myriad disciplines to address a need to create scalable “understanding” tools. Market research was one example of use cases, but the needs of healthcare, public policy, education and other categories drove their thinking as much as anything else.
The result is a uniquely powerful, beautiful, and elegantly simple solution that can be used by novices and experienced pros alike, with an API based model that allows their tech to be plugged in to power or augment many different complementary platforms.
Here is a bit more from their website:
Heartbeat text analytics app automates the segmentation of self-reported emotions and feelings…into 10 primary and 100 secondary emotion groups. Our app is unique, scientifically sound, simple to use and affordable. Our results are accurate and 100% transparent. It will give you:
Automated categorization of emotion and feeling words and phrases
Unprecedented granularity and precision of emotion segmentation
A beautiful interactive data visualization with analytics and filters
According to the most recent GRIT report, text analytics continue to grow in use within research, with a variety of solutions available and some amazing work being done to prove use cases. Heartbeat’s niche is the deep profiling on non-conscious levels and that is exciting indeed since they are helping to bridge the gap between behavioral and computer sciences.
Lana was kind enough to sit down with me for a catch up on what’s been happening with Heartbeat since they won the Competition at last year’s IIeX EU; it’s a fun and enlightening conversation, and Lana has an amazing story to boot. The work they are doing within MR is fantastic, but some of the other projects they are working on outside of this space, for instance as a tool for addiction treatment, are truly fascinating. Check it out and I’m sure you’ll agree.
Look for Heartbeat to be showcased at several events this year along with many other emerging companies doing amazing work on the forefront of research!