Text Analytics for Social Media/Politics/Pharma
The amount of customer feedback coming from social media channels is growing rapidly. Companies who don’t capture and analyze this feedback are missing or ignoring a large percentage of the valuable information that could be helpful to their business. Therefore, many businesses are turning to text analytics systems and technologies to automatically process and analyze text in all its forms and transform it to be utilized in identifying trends, early warning signs, product issues, suggestions for improvement, and cries for help from customers.
In applying text analytics to gathering customer feedback from social media, many new challenges must be considered. The number one challenge is that there is so much text out there, yet only a fraction of it is actually relevant to your business.
Even if you use traditional keyword filtering, it is still going to yield inconsistent and inaccurate results. For example, if you were evaluating comments about American Airlines, you would find some people who say, “I flew on American Airlines,” while others say, “I flew on American.” Think of the number of matches you will find if you just use the term “American”!
To manage this challenge, voice of customer programs using social media need to be able to apply smart filtering techniques and select only the relevant information from the mountain of available data. Text analytics technology based on Natural Language Processing (NLP) can also be utilized in the development of these smart filters, but due to the relatively new emergence of social media, very few are commercially available. With the popularity of social media, many of the leading text analytics and customer feedback technology providers are rapidly developing systems to overcome this challenge.
The power of text analytics will allow companies to quickly and accurately identify actionable issues and then adapt in real time by taking immediate steps that will boost customer retention, differentiate their business and quickly grow revenue.
Contact BaaS for a text analytics demo social [at] baas [dot] gr