What’s worse than not having access to the right data? Having a massive amount of unstructured data that’s hard to read and make sense of.
If that sounds like you, you’re not alone- as per reports, about 82% of organisations haven’t been able to put their unstructured data to good use. Text analysis is a breakthrough technology that helps process this data without much manual intervention.
What is text analysis?
Text analysis is an AI-powered technique that turns textual data into insights. This data can be a series of customer reviews you received for your products or your website analytics data.
Text analysis presents this data as trends, relationships, patterns, themes, and categorised and structured data. You’ll find great resources to learn more about text analysis, and Levity’s guide to text analysis is one such comprehensive bank of information.
It uses AI-powered technologies using machine learning and Natural Language Processing (NLP) to analyse textual data at scale. The process is either semi or fully automated.
Use cases of text analysis
1. Customer experience
For a business, customer interaction is a day-to-day activity. From chatbots to support tickets, emails, and social media chats, massive amounts of data keeps piling up.
This is where your text analysis capabilities come in handy. You get an analysis of:
The trends in customer feedback and conversations from all channels in a consolidated report help you position your product well.
Your Net Promoter Score (NPS)—a metric that rates your overall customer experience and sentiment over time.
The redundancies in customer communications and automate them to improve productivity.
Your audience and how to segment them into groups—ones that are happy or dissatisfied with your product.
Your tickets to categorise and tag them based on the type or priority.
2. Employee engagement
Only 15% of employees are engaged globally—meaning they’re either unhappy or do not find their work rewarding.
When you’re able to identify these patterns and behavioural changes, it makes the job so much easier.
Text analysis powered by ML and NLP is a solid combination that helps you uncover the sentiments of your employees over specific problem areas.
Whether a policy change, a workplace update, or management practices, text analysis helps you gather feedback and conduct bias-free surveys for 100s and 1000s of your employees.
It helps you devise policies that are in favour of your employees
You’re able to keep a close check on mental health problems such as depression or anxiety and intervene appropriately
Employees will love showing up regularly, and you’ll see a spike in the retention rate as well
3. Marketing campaigns
Social listening
With social listening tools, you can respond to customer queries proactively or engage with your audience. When launching a new marketing campaign, they help you capture the analytics in real-time and instantly pivot based on the metrics while comparing them with the historical data.
Competitor analysis
Text analysis tools will help you closely analyse competitors’ strategies and the keywords they’re ranking for. You’ll know what works for them and how to outrank them and stand out.
Branding
Text analysis lets you know what customers and prospects think about your brand or your competitor’s brand. This way, you’ll be able to map out the perfect strategy to target your customers and move them down your funnel.
4. Product analysis
You’ll get prompted when anyone on socials, emails, websites, or any other platform talks about your product.
The sales team can use this information, marketing teams, product teams, and other departments to align their efforts to maximize the launch potential.
Moreover, have insights from the warranty data of your customers showcasing their problem areas. This way, you can assess the market landscape for your brand and see what’s working and what new features to ship next.
5. Recruiting
Helping a candidate get their dream job is a highly satisfactory but quite challenging job. What makes this job even more challenging is when there’s limited staff in the HR department and 100s of candidates to assess.
Text analysis helps in automating processes, including:
Identifying skillset the job requires
Gauging candidate experience and selecting ones that fit the bill
Evaluate potential hires based on their employment history, reviews, and past records
Ready to uncover great insights?
Text analysis is your saviour when it comes to processing a massive amount of business data. With the right technology, you’ll be able to parse them and convert them into valuable insights.
