The Future of Text Analytics
With the outburst of social media and content marketing over the past 10 years, text analytics has become not just a “buzz word” but a common methodology. The term “text analytics” has recently been tied to the hysteria of “social media monitoring”. Although social media monitoring is one of the many applications of text analytics, its value goes far beyond. Marketers need to be aware of the developments in text analytics because it can dramatically change how you market. Let’s look at what text analytics might look like in ….. the future! (dramatic sound effects).
Companies often use text analytics to listen to what consumers are saying about their company or product. This type of listening has traditionally involved seeking out data from external sources (i.e. Social Media monitoring). This only tells half of the story. Companies are spending incredible amounts of time and money collecting “inbound data”, such as emails and incoming calls. I anticipate we will begin to see the applications of text analytics expand to cover both inbound and outbound data, on a more regular basis.
Let’s be honest, a spreadsheet of raw data is not easy on the eyes. Although data visualization techniques should only be used as exploration tools and NOT ready-to-share presentations; this area of text analytics is in great need of a face lift.
A Pioneer into Content Analytics
Different types of content are beginning to take center stage with the rise of content-specific social media networks (i.e. Instagram, Vine, etc..). As we’re starting to wrap our head around ways to analyze text content, we must keep our eye out for efficient techniques to analyze photo and video content. Small players have begun to pop up in this space but it is far from a finished product.
What other areas do you see in the future for text analytics?