As a result of its evolution, the internet has come to generate an ever-greater amount of qualitative data through simple online interactions. For example, Facebook asks you about your thoughts and feelings; similarly, LinkedIn wants your testimonials instead of rankings to promote your colleagues. Comments are gradually becoming a powerful mode to evaluate the success of a particular site. The same can be said about site reviews that give you an idea about the real value of a site, all of which is qualitative data.
For businesses, transforming this qualitative data to quantitative data is somewhat challenging, especially if they don’t seem to understand its role and importance. Nonetheless, doing so can yield tremendous insights which will undoubtedly help in managing decision-making. Thankfully, text analytics can make this possible in an easy way.
What is text analytics?
Text analytics is the process of deriving high-end information from within text materials. Patterns and trends play a crucial role in making this process interesting.
Text analytics provides a lot of valuable details and is automated – as such, using text analytics also involves learning a new form of data. Doing so ultimately helps save a great deal of time, though, especially when compared to manually pouring over qualitative data in order to gain insights.
Text Analytics- The Next Gen Data
Whether a big or small business, every enterprise currently tries to deploy various platforms to interact with their customers and find out more about their experiences and how they can improve their services. This Big Data helps to inform formative decisions and can have a very positive impact on your business.
However, this data is mostly unstructured; if the data can be counted, though, there’s a possibility that it can be analyzed and similarly interpreted. Rendering this unstructured data quantifiable comprises a huge part of text analytics, giving you the real picture in terms of what your clients and consumers are saying.
Why try text analytics?
- Helps you analyze vast amounts of textual data
- Allows you to extract and retain valuable information
- Identifying questions like “who, when, what and why” helps to transform unstructured data into structured data.
- Full-fledged text analytics systems are identified as social media monitoring platforms, providing a voice to customers and customer experience management solutions.
In this regard, companies like Provalisresearch.com provide you with a complete suite of tools for appropriate text analytics solutions, allowing your business to take advantage of all the relevant qualitative data currently online that corresponds to it.