Many Organizations try to deploy manual methods for extracting unstructured customer responses. However, for organizations having an abundance of data, it becomes an impossible and equally challenging task for the team members to extract every bit of information accurately. For this, organizations must assimilate automated solutions like Text analytics for the complete extraction of their unstructured data.
Text analytics are automated solutions for extracting unstructured data through the use of Natural Language Processing (NLP), Natural Language Understanding (NLU), and Natural Language Generation (NLG).
Moreover, Text analytics expands the range and accuracy of organizations in understanding their customers for a better experience and generating brand loyalty.
Customers in the contemporary era have access to several mediums for communicating with businesses and generating feedback responses. Mediums like social media, email, text, surveys, and even phone calls. Customer feedback inculcates essential information for businesses for their transition and development. Furthermore, this feedback includes the voice of the customers, their suggestions, and complaints.
The feedback responses and comments generated by customers hold information in both structured and unstructured formats. Also, the responses collected from customers through various mediums overlay numerous subjects regarding the businesses.
For instance, a customer sharing issues at the organizations’ social media handle. At the same time, it is valuable for the organization to incorporate. However, the organization fails to extract this particular unstructured suggestion. This will result in losing the customer as well as the opportunity to make corrections. Thus, it becomes crucial for organizations to extract every possible feedback generated from their consumers.
What to look for when deploying text analytics solutions?
Text analytics solutions extract unstructured and loosely shaped text into an easily accessible machine-readable form with complete accuracy and efficiency. An effective text analytics solution must involve;
Revealing the Purpose of the Feedback Scores
Many a time, customers are asked to rate the organization’s services. All the data gets collected in the form of Quantitative numbers as per the customer feedback scores for a particular service. Moreover, customers also state their reasons and comments for the particular feedback score.
However, it is a necessity for a text analytics solution to state the purpose of the feedback score. Furthermore, just knowing the scores wouldn’t actually help the organizations, unless they know the reasons behind these feedback scores. Text analytics must unwrap the purpose of feedback scores, identifying the issues caused, and find the business segments responsible for it. Text analytics have the ability to go through each and every comment of the customers regarding numerous key phrases and topics.
Completely Examining the Customer Experience
Customers tend to ask open-ended questions and comments in their feedback responses. However, only through a thorough research of customer feedback responses, text analytics solutions have the ability to understand the customer experience journey.
Spotting out the Market Trends
Many a time, customers talk about things which are significant to them. They mention various business trends in their feedbacks as to what they wish for. For instance, if a particular product high in demand by the consumers and is not made available by the organizations to their consumers. As a result, customers complain to make the product available through communicating with the organization.
Moreover, due to such high demand, that product is now looked upon as an emerging trend for the customer. However, if organizations don’t adopt the trends and make the products available, the customer will move on to some other retailer. Therefore, an effective text analytics solution must be able to apprehend the emerging trends mentioned by the customers.
Productive Apportion of Resources
Text analytics solutions must save time and energy for organizations with effective allocation of resources and few human labors. For this, the text analytics solution must be working in real-time through high levels of precision with the extraction of unstructured free form data at a rapid and consistent pace.
Identifying Sentiments of Customers
A rudimentary aim of text analytics solutions is scrutinizing the emotions generated by customers in feedback responses. Sentiment analysis helps organization to understand both positive and negative emotions shown by the customers and the factors effecting it.
Text Analytics solutions eradicates not so important words and phrases from the useful extracted data. Moreover, it is capable for linking and stemming words of a similar meaning such as ‘bad’ and ‘terrible’.