It is fascinating to note that the internet can generate so much data, rather qualitative data from ordinary everyday online conversations, which when studied can give us a general idea of what the population feels about a product or service.
Now for businesses, these random conversations could give a lot of information. But it can be challenging to translate the qualitative data into something more quantitative as that is the language spoken by the enterprise. Making sense of this data manually is not possible or viable and this is where text Analytics comes into the picture.
In simpler words text analytics is a process of making meaning out of written communication, it means examining what was written. Finding patterns and topics of interest and then take probable decisions. Since it is established that manual analytics of this data is an inefficient process, text analytics software’s have been created that uses text mining and natural language processing algorithms (NLP) to search meaning in the huge amount of text data.
Emails, blogs, feedback, reviews, tweets, survey reports, any form of written feedback, all of it holds insight into public/customer feelings. It’s a wealth of information that is recorded and can easily be transformed into text. Text analytics is the key to unlocking the treasure that this information can offer. Decoding this information can help an organisation to understand patterns and themes so that the customer’s expectations and needs are clear and give time to organisations to handle a situation and make better decisions.
Text analytics software can also help provide early warning signs about what the customer’s emotions are, if they are planning to go to the competitors, or if there is a complain that the customers are facing.
Text analytics can give numerical values to words, sentences or phrases from the unstructured data. Numerical data can be further linked with structured data using data mining techniques. Because text analytics is still in the infancy stage, depth analysis varies from vendor to vendor.
Imarticus with collaboration with DXC Technology is initiating a webinar on further understanding the scope of Text Analytics.
DXC Technologies assists companies to connect with innovation and change. It is a leading end-to-end IT services company, uniquely positioned to lead digital transformation thus creating value for partners and shareholders.
The webinar is focused on
- Explosion of textual data
- Need for text mining using popular case studies
- Current challenges and ways to overcome
- Encoding the case studies tackled by DXC Technologies
- Advantages in decision making for organisations
The webinar will be facilitated by data scientists and the leadership of DXC Technologies, collectively coming together with over 50 years of experience in Research and Analytics, specifically in the areas of Text mining, Machine Learning, Natural Language Processing and more.
You don’t have to be a statistician to use these tools, Text Analytics encourages learning and using new forms of data, irrespective of your skills. It just demands time to understand the application to the business. It’s great to know that the text analytics industry is full of opportunities, hence be there to take advantage of the webinar! So be there, May 30th 6-7pm.
There are multiple ways to enhance customer experience, especially as the online interactions become more sophisticated it will require better tools to analyse and understand what it means. It won’t just be random banter, the words have to mean and without text analytics companies will not be able to read the sentiment, or read between the lines.
Book your spot here: Register Here