It is great
to know that internet can create so much raw data, rather quantitative data
from ordinary everyday online conversations, when noticed can give us an idea
about the products and services.
For businesses, the random conversations could give a lot of
information. But it can be challenging to translate the qualitative data into
something more quantitative as that is the language spoken by the enterprise.
Making sense of this data manually is not possible or viable and this is where
text Analytics comes into the picture.
In other words text analytics is a process of making meaning
out of written communication, it means examining what was written. Finding
patterns and topics of interest and then take probable decisions. Since it is established
that manual analytics of this data is an inefficient process, text analytics
software’s have been created that uses text mining and natural language
processing algorithms (NLP) to search meaning in the huge amount of text data.
Emails, blogs, feedback, reviews, tweets, survey reports,
any form of written feedback, all of it holds insight into public/customer
feelings. It’s a wealth of information that is recorded and can easily be
transformed into text. Text analytics is the key in unlocking the treasure that
this information can offer. Decoding this information can help an organisation to
understand patterns and themes so that the customer’s expectations and needs
are clear and gives time to organisations to handle a situation and make better
decisions.
Text analytics software can also help provide early warning
signs about what the customers emotions are, if they are planning to go to the
competitors, or if there is a complain that the customers are facing.
Text analytics can give numerical values to words, sentences
or phrases from the unstructured data. Numerical data can be further linked
with structured data using data mining techniques. Because text analytics is still
in the infancy stage, depth analysis varies from vendor to vendor.
Imarticus with collaboration with DXC Technology is
initiating a webinar on further understanding the scope of Text Analytics.
DXC Technologies assists companies to connect with
innovation and change. It is a leading end-to-end IT services company, uniquely
positioned to lead digital transformation thus creating value for partners and
shareholders.
The webinar is focused on
1.
Explosion of textual data
2.
Need for text mining using popular case studies
3.
Current challenges and ways to overcome
4.
Encoding the case studies tackled by DXC
Technologies
5.
Advantages in decision making for organisations
The webinar will be facilitated by data scientists and the
leadership of DXC Technologies, collectively coming together with over 50 years
of experience in Research and Analytics, specifically in the areas of Text
mining, Machine Learning, Natural Language Processing and more.
You don’t have to be a statistician to use these tools, Text
Analytics encourages learning and using new forms of data, irrespective of your
skills. It just demands time to understand the application to the business.
It’s great to know that the text analytics industry is full of opportunities,
hence be there to take advantage of the webinar! So be there, May 30th
6-7pm.
