October 29, 2020
Did you know that Artificial Intelligence (AI) can help you make better business decisions?
Yes, we are talking about the future of Business Intelligence, Customer Experience – you name it!
It’s all possible through text analytics. But what does it really mean?
Text analytics is an AI technology that uses Natural Language Processing (NLP) and Automation to extract topics, trends and patterns - from large volumes of unstructured text-based data. Often used interchangeably with text mining or text analysis, text analytics is combined with data visualization tools to show insights and the meaning behind the numbers and words which can empower businesses to make better decisions.
This allows you to take ownership of all the data available to you - customer surveys, product feedback, online forum discussions, tweets, etc.
Text analytics is the future of business intelligence. Why?
It allows you to:
● Create better products.
● Improve customer experience.
● Manage your reputation more effectively.
Most importantly, it can give you that edge that your company needs to survive in today’s fast-paced, fiercely competitive marketplace.
Want to take your business to the next level?
Why You Should Analyze Tweets
Your company probably has a Twitter account.
It is a channel of communication between you and your customers.
And it’s important to remember that people are probably also discussing your product without tagging you.
But as your following grows, it eventually becomes impossible to keep track of all the relevant conversations.
That’s where text analytics comes in. It can tell you how people perceive your company, what your customers are unhappy about, what features they want the most, etc.
Moreover, it can help you quickly identify problems that can damage your reputation, then get ahead of them before things get out of control.
This is especially important because nowadays an unhappy customer can easily cause a PR disaster. Don’t let that happen.
We can help you analyze Twitter conversations. Be it a thousand tweets or a half a million. We can do it.
In fact, our ability to extract valuable insights from tweets was what initially impressed one of our clients, the Ellun Kanat agency.
Here’s how Pessi Marttunen, senior advisor and communications consultant at Ellun Kanat, explains it:
“We were first thrilled about DrAI’s unique skills in text analysis on social media.
They were able to understand the discussion in the Twittersphere far better than any other text analytics tools we had used before.
They provided relevant insights about topical social questions and public discussion when analyzing social media.”
Speaking of volumes, we recently teamed up with Studeo, a leading e-learning platform based in Finland, to find out more about the conversation on schools and the education systemin Finland. We analyzed an astonishing 280,000 tweets and identified the most important concerns, ranging from school's relationship with society to distance learning amidst the COVID-19 pandemic.
Why You Should Analyze Product Feedback
Customer feedback is extremely valuable because it helps you build a better product.
However, as your user base grows and the feedback keeps flooding in through email, customer support tickets, product reviews, etc., there comes a point where you simply can’t read it all.
But with text analytics, you can go through everything, which allows you to learn a lot about how people use your product:
● Which features do they find confusing?
● Which features do they find helpful?
● What new features do they want the most?
Knowing the answers to these questions can help you improve the existing features, develop new ones, and create a better product and experience.
We can help you analyze the customer feedback that you keep on receiving.
Why You Should Analyze Customer Surveys
Open-ended surveys can be a great way to learn more about your customers.
However, when it comes to analyzing their results, there’s only so much that your employees can do.
It’s unreasonable to expect a person to read hundreds or sometimes thousands of survey answers, then extract all the relevant information from them.
But an AI can do that with sheer ease. And it is guaranteed to uncover topics, sentiments and patterns that even the most detail-oriented human would have missed.
For example, text analytics can show you what words customers use to describe the problem that your product solves, which you can then use in your advertising copy to make it more effective.
We can help you analyze open-ended customer surveys and extract actionable business insights from them.
Text Analytics Is a Business Superpower
We humans are great at a lot of things, but text analytics is not one of them.
What happens when we need to read through a ton of text-based data? We get bored. We get distracted. We miss things. Plus it takes ages.
That’s why you need text analytics if you want to unlock the insights hidden in the huge treasure trove of textual data that you already possess.
Think about the competitive edge this could give you. You would be able to improve your reputation, provide better customer experience, and create a better product.
Text analytics is also often used to address social issues by the public sector as well as civil society – including think thanks and NGOs. While academics also find it beneficial to address a wide variety of issues that their research is addressing.
AI-driven text analysis is like a superpower. It can help you transcend human limitations.
And it’s still a relatively new technology. Your competitors probably haven’t adopted it yet. But they will.
That’s why you need to act fast and adopt it now.
Why Work With DrAI?
DrAI is a text analytics company that was founded by three academics who wanted to bring a simple yet reliable solution to the text analytics space.
We offer full-service text analytics, which means that we take care of the entire project from start to finish:
● We collect the data.
● We analyze the data.
● We interpret the results.
We can help you extract valuable lessons from tweets, product feedback, open-ended surveys, and more.
All you need to do is give us access to the relevant data. We will then use our cutting-edge AI to analyze it.
We will come back to you within 1-3 days with a full text, topic, and sentiment analysis as well as actionable business insights that you can implement immediately.
Here’s how Pessi Marttunen, senior advisor and communications consultant at Ellun Kanat, describes the agency’s experience of working with us:
“DrAI can categorize any textual data into topics, run accurate sentiment analyses, and interpret the results for us.
It is amazing how easy their analysts make it for us. We do not need to teach the machines how to categorize the words or bepuzzled about the findings. DrAI just takes the client’s data and tells us how to interpret it.
We can focus on our expertise and help organizations change.”
Case Study: How DrAI Saved Researchers working as part of the CoSIE Project At Least 2 Months of Work
As part of the Co-creating Service Innovations in Europe project, also known as CoSIE and funded by the European Commission’s Horizon 2020 programme, academics wanted to engage marginalized youths in the collaborative design of public services.
They identified a relevant discussion group ‘Hikikomero’ on the anonymous online forum ylilauta.org.
This group attracts socially withdrawn youths and provides a window into their everyday lives.
The researchers found that out of 76,000messages that were posted there in 2018-2019, more than 3,000 messages referred to social service organizations.
On the one hand, such a large amount of qualitative data was a treasure trove of information, but on the other hand, analyzing 3,000 messages proved to be quite a challenge.
Initially, the CoSIE researchers intended to use the text analytics tool called Luuppi, but they quickly realized thatvthey didn’t have time for that.
Here’s how Jussi Kokkola, one of the researchers in this project, from the Turku University of Applied Sciences explains this:
“We were on a tight schedule for the project and the tools required us to, by ourselves, teach the algorithm how to analyze the texts - which is pretty time consuming.
At this phase, we decided to utilize DrAI’s algorithm and full-service text analytics solution.”
The project team briefed us on their objectives and shared their knowledge about interesting keywords.
Then, we did a full text, topic, and sentiment analysis of those 3,000 messages and delivered a complete report on our findings.
“I can honestly say that their text analytics full-service saved me at least a couple of months of work. Moreover, I can say that it gave us more conclusive results than what we could have achieved with other tools or unassisted text, topics, and sentiment analyses,” shares Jussi Kokkola.
Working with DrAI helped the project team within the CoSIE programme improve their understanding of how social services could better meet the needs of marginalized youth and allowed them to submit their manuscript the very next month.
You already have access to a good amount of data.
But you don’t know how you are going to put them all in one place, and get meaningful insights from them.
Even using text analytics software to analyze it may turn out to be too time-consuming and leave you with little meaning or value.
But that doesn’t mean that you should give up on text analytics altogether.
There are valuable insights buried in that data. Insights that could significantly improve your bottom line. They can help you detect trouble early enough for you to act on. You need to uncover these insights. Not acting on those data is like leaving money on the table.
And we can help you do that.
We will take care of everything, from data collection to its analysis to interpreting the results for you.
You will have a complete report with actionable business insights within 1-3 days.
Want to learn more about our services? Feel free to book a demo anytime. We would love to talk to you!
Alternatively, download our whitepaper to get a glimpse of our work!
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