BOSTON, Jan. 27, 2021 /PRNewswire/ -- Northern Light® (www.northernlight.com) grew its revenue and sold a record number of new enterprise strategic research portals used for market research, competitive intelligence, and market intelligence during 2020, despite challenging business conditions related to the COVID-19 pandemic.
Seventy percent of the new SinglePoint™ portals Northern Light sold in 2020 were to new customers, while 30 percent were additional installations at existing clients.
SinglePoint is a machine learning-enabled enterprise strategic research portal platform used by 250,000 professionals at Fortune 500 organizations. SinglePoint allows users to conduct integrated search across multiple content sources, and delivers informative search summaries and article abstracts, as well as automatically generated insights reports. Users also can save custom searches and bookmark articles, receive email search alerts about topics of interest, and create custom dashboards with only the topics an individual cares most about.
Other significant accomplishments by Northern Light in 2020 included recording the highest data and network security scores among its competitors, according to an independent assessment by SecurityScorecard; and favorable client response to Northern Light's innovative use of artificial intelligence (AI)-based machine learning technology in its SinglePoint platform, as recorded in independently-conducted customer interviews.
"The challenging business conditions of 2020 actually accentuated the need for large research-driven enterprises to provide their teams with immediate access to meaningful market research and competitive intelligence for strategic planning, product development and marketing purposes," C. David Seuss, Northern Light's CEO, said. "The dominant trend to work-from-home puts a premium on effective knowledge manage solutions because market intelligence staff can't just shout over the cubicle wall to their co-workers to help them find relevant research. The firms Northern Light targets are forward thinking, making SinglePoint an appealing investment that supports the new business reality."
Seuss noted that Northern Light's AI capabilities are a strong selling point for its solutions. "What business users really want from search is to not have to manually refine a query to find more on-point material, and to not have to manually review a search result at all. They want the machine to figure out the right query, read the documents on the search result, and report what it finds. That's all now possible."
Seuss said SinglePoint's array of insight distribution mechanisms – customizable dashboards, newsletters, and automated search alerts, among others – also were drivers of SinglePoint adoption within large, complex enterprises.
"We expect 2021 to be another strong year for Northern Light," Seuss said. "We are rolling out new content collections, not only for SinglePoint clients, but also via the Amazon Web Services (AWS) Data Exchange and Marketplace for organizations that are interested in deploying them inside their applications hosted on AWS or by the seat."
About Northern Light
Northern Light has been providing knowledge management platforms for competitive intelligence and market research insights to global enterprises since 1996. Its SinglePoint™ enterprise knowledge management platform received the KMWorld 2020 Readers' Choice award for best content management services, and was honored as one of KMWorld's Trend-Setting Products of 2019. Northern Light's current clients include Fortune 1000 leaders across multiple industries such as information technology, pharmaceuticals, telecommunications, and life sciences. Northern Light has over 250,000 users of its strategic research portals. Headquartered in Boston, Massachusetts, Northern Light is a charter member of the Center for Complex Systems and Enterprises at the Stevens Institute of Technology.
SOURCE Northern Light