Text Analytics, for the uninitiated, is the process of mining and converting text data into interpretable data for analysis. Also, often used in the same context as text mining, text analytics is used for measuring varied things like customer feedback and opinions, which further helps in business decision making. The process is a long one that starts with getting or mining unstructured data, which is then used in a way that the data offers readable information. Using text analytics, it is possible for a business to understand everything from categories, keywords and reviews in the format required. Here’s more on what you need to know.
About using text analytics software
Typically, companies like Provalis Research that offer text analytics software offer a bunch of tools which help in data mining, as well as converting unstructured information into useful information. With the right set of text analytics tools, it is possible to analyze both structured and unstructured data, which is relevant across industries. The best software solutions are those that boast great interoperability, often using tools such as WordStat and Simstat. Such systems and tools also allow researchers to use and integrate both textual and numerical data as required to derive conclusions. From analyzing how relationships between open-ended and close-ended questions relate in a given survey to finding, identifying and using social media trends, everything is possible. Also, geographical and related data for gender, age and other aspects can be evaluated.
Why is text analytics important?
Text analytics is the simplest and probably the most effective way to get an idea of your customer demands, expectations, feedback and reviews. Online surveys, emails, reviews, calls made to customer care, tweets and other relevant information give an idea of how people perceive your brand, and all of this unstructured data from varied sources can be converted into meaningful and readable data, which is why text analytics is so important. If used properly, text analytics offers a quick idea of what's working well and what can be improved with your company, and a better understanding of what your people and customers consider to be important.
If you are interested in text analytics software, make sure that you check the available features, what the concerned suite offers and whether it can be a useful investment in the long run. Most suites are available for download, which is a big advantage, so you can decide call when you are convinced of its utility.