Data. Insights. Conversions. These three words are thrown around quite a bit in the digital world, regardless of the industry. And the reason for their popularity is fairly obvious. The insights we derive from proper data analysis steer us towards ways of achieving increased conversions. A slightly less obvious observation, however, is the kind of data we use to reach these conversions…
When it comes to online user feedback, there’s a lot to be said about quantitative data (e.g. metrics such as Net Promoter Score, Customer Effort Score, & Customer Satisfaction) but still little is known about the qualitative side (e.g. open answers), or the ‘unstructured data’. While metrics such as NPS can easily be measured and displayed in charts or an Excel sheet, qualitative data isn’t quite as straightforward if you don’t have the means to analyse it. Enter Text Analytics.
https://mopinion.com/what-is-text-analytics-benefits/
Clarabridge is a US based company and one of the prominent player in sentiment analytics market. It offers numerous analytics services. The company states that sentiment analytics has been used in text analytics form by enterprises from past several years. The company provides solutions that deliver customer insights, associated to product and service features if projected correctly. This detailed, explanatory analysis complements common high-level satisfaction measures. Sentiment analysis can be applied to enterprise feedback and social monitoring and response, sentiment technologies deliver a key voice of the customer asset. IBM Watson through its natural language understanding provides numerous API platform for text analytics that is capable of understanding and analyzing varied characteristics such as sentiment, entity, emotion, keyword, concept tagging, language, and taxonomy.
https://www.newsmaker.com.au/news/362200/sentiment-analytics-market-2017-size-segments-growth-and-trends-by-forecast-to-2023#.WkT22lWnHIU/
