TEXT ANALYTICS gains clout to capture insights from the data maze
Part of the solution
Adore Me, a manufacturer of lingerie and other apparel, was using Yotpo to generate customer reviews and was receiving about 5,000 reviews per month. The company was considering implementing sentiment analysis tools to ease the feedback-sorting process, so Yotpo’s proposal to test the new Insights text analytics feature in beta came at the right time.
The solution’s use of AI, natural language processing and sentiment analysis enabled the teams to quickly and automatically identify key topics and related sentiment scores,” says Nicolas Capuono, VP of customer engagement at Adore Me, “which saved them a large amount of time over the manual analysis process.” Yotpo Insights also provided the capability to benchmark industry standards and delivered actionable takeaways, which helped compare the performance of its products and services in relation to those of similar companies and determine how to competitively move forward.
Adore Me automatically analyzed more than 61,000 reviews to identify 452 key topics that were being discussed by its customers. “As a result, we learned what issues were of interest to our customers and were able to make product improvements, as well as having more direct contact with the voice of the customer and associated feedback,” Capuono says. Adore Me also developed several new marketing campaigns. The Creation Team, which is responsible for product design and technical design, now has access to Yotpo Insights to have more direct contact with the voice of the customers and their feedback on products.
As a foundational technology, text analytics has a lot of versatility, but its broad potential use can make it difficult to explain to prospective users. “There is a lot of awareness about the existence of text analytics, but people still ask what it can do,” Reamy says. “One reason that some text analytics companies have rebranded themselves as search companies is that it is an avenue to understand text analytics. The underlying functions are the same. In addition, search has been underperforming in the eyes of users, so the potential for addressing unmet user needs is significant.”
Whatever a company’s pain point, chances are that text analytics can be part of the solution, and there is plenty of room for growth, both across different industry verticals and horizontally within an organization. For example, only about 5 percent of health systems are using text analytics, according to Gartner. In marketing, it can be used for anything from optimizing marketing strategies to early fault detection. In human resources, it can identify topics of concern or look for patterns characteristic of successful or unsuccessful employees. As prospective users become more educated and delivery of text analytics as a service expands, so will its use.