How Text Analytics Can Improve Your Business

Entity extraction tools

Text analytics is basically the process of finding important details in all text data that you might encounter in your business. The concept behind it is that all of your social media interactions, customer reviews, survey results, etc can offer insights that can prove crucial for improving your business decisions. But you need to use a text mining software to take care of the data analysis for you.

There are always general trends occurring within the words being used about your business, but those key words aren’t always obvious the human eye. That’s why using a text analytics computer program is ideal. A program doesn’t have any of the emotional response involved with reading business feedback, it simply sorts information into a form that might be usable for you.

Keeping an eye on trending words in your business interactions is important for multiple reasons. For one thing, it’s helpful to know what people are liking. This positive feedback lets you know what to do more of, or what products people are really responding to. On the flip side, it’s also a good idea to be in the know about what people don’t like. If there are multiple reviews highlighting the same negative keyword, for example, it’s better to catch it sooner than later.

One of the ways that text analytics works is through name matching. Name matching software can determine that a name is the same whether someone’s initials are being used or their full name is being spelled out. This can be important for keeping track of your customer database. You don’t want to have duplicate accounts for the same person since you might end up contacting them multiple times. Putting some name matching software to work can help stop this so that you know exactly how many people you have in your contact database.

Social media data analysis is another portion of this process. It can help you to read between the lines and keep track of important details about your user engagement. Additionally, text analytics in social media can also be used to track similar markets to your own or figure out the best way to advertise and draw engagement within different outlets. When you’re putting time and resources into marketing, it’s worth the extra step to make sure that you’re coming from a place that’s as knowledgeable as possible.

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