Text analytics, also known as text mining, is the collective term for a variety of techniques for converting large amounts of unstructured textual data into usable information.
Here’s why such information might be invaluable to your organization.
During the journey a person makes when purchasing a product and after becoming your customer, they leave tracks, especially on the internet. For example, on social media platforms (e.g. Facebook, Twitter, Instagram), where similar products are compared in detail and discussions held on which product best suits their needs. Or on review sites, where extensive feedback is given on experiences with recently purchased products. And not only products: people also discuss services. For example, after a dinner or a day out, people say what they thought of the food, the service and the decor.
There is an enormous amount of - free - information out there that can give you important insights into both the needs of the consumer and the customer experience. Not only about your own products or services, but also those of your competitors; and not only about Dutch or European consumers, but consumers globally. All from customer feedback on social media platforms and rating & reviews sites!
From data to insights into customer needs
But how do you convert this vast bulk of unstructured - textual - data into usable information that will allow you to respond even better to customer needs?
When converting textual to numerical data, various methods, such as sentiment analysis or topic modeling, can be used. Experience has shown that general text analytics techniques tend to be insufficient for operating in specific domains. What is required is in-depth knowledge of linguistic, statistical and machine learning techniques. At CQM we not only have this knowledge, but have developed our own state-of-the-art smart text analytics techniques to help you get hold of that precious numerical data.
CQM’s unique text analytics technology transforms data into marketing value
Want to be able to use the wealth of free customer feedback at your fingertips to improve your products & services or align yourself better with the needs of your customers? And make decisions based on facts, not merely gut feelings?
Then get in touch with us at CQM. We can help you with data collection, improving data quality and analysis of textual information. All in a thorough and reliable manner, so that the conclusions are demonstrably significant and usable.
In short, we will ensure that from now on your marketing activities and strategy are underpinned and guided by insights from reliable data analysis.
For more information, please contact Wieke Selten.