Here are several excerpts from an excellent post by Bruce Temkins, It’s Time For Text Analytics:

At the Clarabridge event this week, I got to spend time with many executives from large companies that were thrilled with the results from their text analytics efforts.

While most companies were still in relatively early stages of their deployments, the ROI of their efforts were already compelling. The business results for using text analytics came from areas like:

•    Reducing warranty costs by spotting quality issues much faster

•    Identifying underperforming franchisees that need training

•    Cutting operational costs of manually categorizing customer comments

•    Quickly identifying the impact and severity of service issues

•    Understanding “why” metrics like NPS are going up or down

Vendors like Clarabridge, Attensity and Overtone are making it easier than ever to extract huge value from previously ignored unstructured text. That’s why my #1 trend in Voice Of The Customer (VoC) programs is “Tapping into unstructured and unsolicited feedback” which I show like this…

Businesses are full of unstructured text like customer comments on surveys, notes and verbatims from contact center conversations, inbound emails, online chats, social media sites, customer feedback comments, etc. This information represents immense untapped value that I expect companies to start unlocking.

The bottom line: What’s your plan for text analytics?

Comments

This entry was posted on Monday, February 1st, 2010 at 8:30 am and is filed under Analytics, Business, Enterprise, SEO, Search. You can leave a response, or trackback from your own site.

About the Author: Jim Berkowitz is a seasoned executive with more than 30 years of professional services and project management experience related to Customer Relationship Management (CRM) and Financial Management (Accounting & ERP) software solutions for small, mid-sized and Fortune 500 companies. As a Sales Force Automation and CRM Consultant, Jim has assisted more then 100 companies with the design and implementation of custom CRM solutions.Mr. Berkowitz is the founder and President of CRM Mastery, Inc.; a company dedicated to serving small and mid-sized enterprises (SMEs) by offering affordable tools and guidance to help them plan for and succeed with their CRM initiatives.