Text analytics, sentiment analytics and other forms of unstructured content analytics hold a lot of promise for the future, according to industry analysts. But that doesn't mean companies aren't using the technologies to their benefit in the here and now.
Users such as marketers, lawyers and financial traders are already tapping into content analytics tools for a variety of applications. The text analytics and content analytics tools, which mine documents, emails and other unstructured data to discern patterns and uncover insights, are designed to help companies better understand their customers, track market trends and avoid legal headaches.
Of the current users, marketing departments are probably getting the most out of content analytics today, said Seth Grimes, founder of Alta Plana Corp., a Takoma Park, Md.-based consulting firm. He added that marketing uses include determining how customers are using products, understanding long- and short-term trends around brand perception and identifying disgruntled customers via sentiment analytics techniques.
On a macro level, social media analytics tools can seek out and process large volumes of tweets and other content, such as Facebook and blog posts. From there, the text is analyzed for keywords, word frequency and wording patterns, with the findings often being presented to users in the form of data visualizations. Marketers can see, for example, what products are "trending" well and generating the most chatter on social networks. Or they can monitor customer sentiment and feedback on a new product launch.
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By: Jeff Kelly