Text Analytics – In Pursuit Of The Holy Grail Of Customer Experience

By Author: Karan Khatnani
Total Articles: 2
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Text analytics is the process of deriving meaning from text. It finds patterns and commonalities within the text, creating opportunities for businesses to learn and act on. And while this process can be done manually, it requires an army of human text readers. The efficiency (or the lack of it) of the whole process can only be imagined and shuddered upon. It would take hundreds of hours for a human to sort through and classify the customer feedback coming in through the various channels. It would take even longer to aggregate all of this data, detect patterns and trends, identify the emotions in each comment and create measurable actions.

Text analytics uses software to accomplish all the above steps. Algorithms within the software find true meaning in the large amounts of text. It takes unstructured thoughts of customers and turns them into measurable data that can be meaningfully utilised by a business.
Text analytics value chain

Value, in customer experience terms, is derived from what the customer expresses when she provides feedback. It starts with the text that a customer keys in and ends in the action ...
... that a business takes based off the feedback provided. The process involved in using text analytics is outlined below.

Listen: The first step is to set up channels that listen to customers and capture their feedback. This can be created through a number of mediums such as, surveys, online review forms, interviews and various other means. The primary goal is to provide the customer with an avenue in which to freely express how she feels about her overall experience with the business.

Assimilate: The feedback captured through various channels is collated centrally, which in turn acts as the feed into the text analytics software.

Analyse: This is where the actual software comes in. Businesses have to identify and choose the best software options available from a plethora of text analytics tools. The choice depends upon what the business wants to track, the capabilities of the software itself and the costs involved.

Act: The output of text analytics is meaningless if there is no action plan. The results of the analysis need to be converted into a structured action plan, based off the data identified by the software.
Trend: By aggregating the analytics outcomes using parameters, such as customer demographics, segment and experience topic, businesses can get an overall picture of the issues that customers face. In turn, this helps business make decisions and identify recurrent issues that impact the customer experience.

Track: Tracking emotion over time helps monitor the changes that impact specific areas of the business, including the relationship with customer experience.

Text analytics is the next evolution in ensuring businesses know exactly what their customers are thinking and saying. Analysing unstructured textual data and transforming analogue feedback text into digital actionable insight could be the single largest differentiator between customer satisfaction and customer experience!

If you are interested in discovering how you can implement conversational marketing into your business, contact our team at Chrysalis for more information info@chrysaliss.com

As a digital transformation company, we support businesses in enhancing both their operations and customer experiences to encourage growth and development within the digital realm. We guide organisations in understanding relevant trends and benchmark their digital capabilities against best practices and competitors.