Why Text Analytics?

For years, organizations that wanted to better understand their customers did so by gathering and storing structured data such as customer names, addresses, phone numbers and demographic data, or by conducting focus groups or surveys. Using this information, companies could get a view of the customer and use that information to better target their products and services. Over time, however, both the volume and nature of customer information available to the enterprise have changed dramatically.

The advent of social media and mobile computing have completely transformed how customers interact with companies and brands. Today’s empowered consumers share their experiences and perceptions as they happen, to a worldwide audience of millions in blogs, chat rooms, product review sites and in social media. At the same time, ad-hoc consumer feedback in the form of e-mails, surveys, call center notes and other direct company correspondence is also growing in volume, as these newly empowered customers are increasingly willing to share their experiences directly with the company.

Buried in this deluge of customer communication is a wealth of actionable business intelligence that can dramatically impact an organization’s brand equity, revenues and operational costs. From product suggestions and reviews to requests for help and intent-to-churn, this time-sensitive information can be leveraged for significant process improvements and market advantage. Companies today must take into account this broader spectrum of information in order to make good business decisions, or risk losing market opportunities, and customers, to the competition.

Example Screenshot from Attensity Whitepaper…..