Cloud-Based Text Mining: The Future of Analytics
Reputation is so important for a business. What exactly do your customers and clients think about you and, what do they say to others? You can never control the ‘word of mouth’ surrounding your brand, but you can use the latest technology to get the most accurate picture of what people think of you and the products and services you offer.
Text analytics is the process of deriving high-quality information on what your customers actually think from the language used in any form of written communication. The right software is the key to unlocking this. It can be used to reveal important patterns and trends, as well as relevance to a number of issues.
Your company may very well be using some form of text analysis already. Mentions of the company’s name, brands or product lines can all be easily tracked online via social media channels. But sentiment analysis is trickier since it’s practically impossible to account for the subtleties of body language, humor and sarcasm.
To judge sentiment, you need the ability to interpret the language used to express it. Everyday conversations and interactions between people and companies provide an avalanche of material from which to assess the way your company is perceived.
Facebook walls are daubed with people’s thoughts and opinions. Twitter feeds are full of brand mentions and hashtags, acting as instant barometers for customer satisfaction. Also, customer reviews may be adorned by star ratings, but to really understand how someone feels about a product, you only need to read the review itself.
In this case, qualitative data is not hard to come by. However, interpreting it and translating it into quantitative data is necessary in order to provide the benchmarks and KPIs that business runs on. For this to happen, a text analytics process needs to be undertaken. While we may see that a product has been awarded a five-star Amazon customer reviews, and from the positive sentiment surrounding behind-the-scenes photos published on Instagram, it’s not enough. We generally have to turn that information into a graph or a set of metrics so that the whole business understands it.
Facebook comments on their own don’t give a return-on-investment percentage.
Cloud-based text analytics software not only makes obtaining such quantitative information much easier, but it also becomes instantly shareable with other teams and can be seamlessly integrated into multiple work streams.
These cloud-based text analytics software systems eradicate the need to manually sift through comments, emails, and transcriptions of phone conversations, instant chat dialogue and any other form of customer contact. You don’t need teams of dedicated analysts to comb through this mountain of information, looking for patterns and organizing keyword groups. Instead, those teams can focus on looking at how the data gained can help the business.
Now you don’t need a degree in statistics or psychology to understand what your customers think of you. You just need to find these customer, and prospective customer, expressions and use a good text analytics program instead. You can stream that insight into eCRM campaigns and make sure that every last word on your product or service is used to ultimately strategize and improve the customer experience your company provides.