SANTA CLARA, Calif., March 2, 2017 /PRNewswire/ -- Based on its recent analysis of the life science research tools market, Frost & Sullivan recognizes Bioz, Inc. with the 2017 North American New Product Innovation Award. Bioz's first-of-its-kind life science search engine tool is fast and easy to use and offers highly informative feedback on life science experimentations based on publications to guide labs in their research decision-making and purchasing process. This tool saves researchers the time and effort needed to sift through dozens or hundreds of articles and identify the best reagents and instruments used in peer publications for their research experiments.
While many databases collate research publications in a single location, no other platform analyzes, aggregates, and structures the data by keywords and topics within full-text articles. The Bioz technology combines Natural Language Processing (NLP) and Machine Learning (ML) to mine hundreds of millions of pages of scientific research publications and sort the data in a comparable, user-friendly, and visually effective manner.
"A highly distinct quality of the platform is that it is centered on life science research tools, such as reagents and instruments, that are typically listed in the methods sections of publications," said Frost & Sullivan Senior Industry Analyst Christi Bird. "The Bioz platform allows researchers to view a list of the most used products for a particular research area, biological pathway, or application. Ultimately, it presents laboratories with collated information that they can use for making smart product purchases."
Laboratories currently waste precious time and resources finding the right product for their experiments, which is especially a problem with antibody purchases, where labs sometimes perform months of trial and error to find the right antibody. With the Bioz platform, labs can identify the ideal products for their research right from the start, with peer-reviewed articles to validate their choices. The platform returns a list of products and vendors mentioned in articles that match the search term. Visuals include pie charts of product breakdowns and a Bioz Rating Stars box that rates the product from 0 to 5.00, with slider bars for product mentions, impact factor, and the article's vintage.
Launched in July 2016, the platform has already gained 200,000 users worldwide. Bioz has established user ambassadors from top global research institutions that are willing to be contacted by new users seeking to learn how the platform has improved their research and purchasing decisions. This marketing initiative is truly innovative and one that will build brand equity.
"The Bioz business model is quite unique as the platform is completely free for researchers, with a click-through fee for partner companies," noted Bird. "The site does not introduce bias or advertising, allowing researchers to have a clean user experience and to place high-value and confidence in the information provided. Thus, Bioz has received positive feedback from all parties involved and is growing in both users and vendor partnerships."
These outstanding benefits of its truly innovative search engine have earned Bioz the 2017 North American Frost & Sullivan New Product Innovation Award.
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the product's value-added features/benefits and the increased return on investment (ROI) it offers customers, which in turn raises customer acquisition and overall market penetration potential.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
About Bioz, Inc.
Bioz, Inc. offers the world's first search engine for life science experimentation. The patent-pending software platform combines the work of scientists with advanced Natural Language Processing (NLP) and Machine Learning (ML) to help life scientists in academia and biopharma make faster and smarter experimentation decisions, ultimately speeding up drug discovery and increasing the rate of success in finding cures for diseases. Founded in 2013 by Stanford research scientist, Karin Lachmi, Ph.D., and CEO Daniel Levitt, Bioz is a Stanford-StartX accelerator company. Bioz is used by over 200,000 researchers from over 10,000 different universities and companies in 191 countries. Try Bioz at www.bioz.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that could make or break today's market participants. For more than 50 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.
P: +44 (0) 207.343.8314
E: [email protected]
Kulesa Faul for Bioz
E: [email protected]
SOURCE Frost & Sullivan