The 6Sense semantic search technology from Monster, the flagship brand of Monster Worldwide, Inc. (MWW) is helping companies successfully find the right candidate for the right job in a quick and cost effective manner.
As competition for jobs get intense and unemployment remains high, the number of vacancies continue to increase with an average of 3.26 million positions waiting to be filled in the U.S.
Monster’s 6 Sense Technology enables recruiters to source quality job candidates and fill jobs in a faster manner.
Monster’s patented 6Sense semantic search and matching technology act as a backbone for most of the products, which in turn, facilitates both the job seekers and employers.
Monster continues to make investments in the technology platform that allows the company to launch innovative products and services on a global basis.
Monster acquired Trovix Inc. in 2008 and this new technology is based on the technology from Trovix. Trovix provides career-related products and services that use advanced search technology, while focusing on key attributes, such as skills, work history and education.
The 6Sense technology basically transforms traditional keyword-based processes and aids customers by matching candidates to their required job specifications.
Moreover, Monster introduced its cloud based search product SeeMore in the third quarter of 2011, which enables the customers to utilize the company’s 6Sense technology on their own talent databases.
SeeMore also allows employers to search for all of their talent pools in one place and consequently identify and rank the best potential candidates by reading the resumes with a recruiter- like understanding of skills and qualifications.
Moreover, using the SeeMore technology, companies can work beyond talent sourcing to talent management by using analytics for more strategic workforce planning.
Meanwhile, Monster’s proprietary semantic resume search product, Monster Power Resume Search (PRSG) also enables employers to search for the best candidates by swiftly analyzing resumes and evaluating skills.
Business had been in doldrums for Monster for quite some time now and the company is focussing on rolling out new products and technologies to combat the significant decline in its top line.
We continue to maintain a Neutral recommendation on Monster. Our recommendation is supported by Zacks Rank #3, which translates into a short-term rating of Hold.
MONSTER WWD INC (MWW): Free Stock Analysis Report
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