July 9, 2024
Text Mining Frees Customer Insights Trapped in Unstructured Content – OpenText Blogs
OpenText text mining releases valuable insights that lie in unedited data
In the real world, many important customer insights are hidden in unedited data like emails, social media posts, and reviews. According to IDC, by 2025, 80% of global data will be unstructured, making it difficult for companies to get a holistic view of customers and their opinions. Analyzing such data would allow companies to better understand customers’ feelings, intentions, and opinions, which would help improve products, tailor offers, and strengthen customer relationships. PwC reports that 43% of consumers would pay more for convenience and 42% for a friendly experience, highlighting the importance of user insights.
Textual analysis, using technologies such as natural language processing and machine learning, allows structuring data to reveal hidden information and patterns. For example, OpenText Magellan uses AI to analyze content from emails, chats, blogs, and the like, providing valuable insights through analysis of tones, emotions, and text classification. This enables better business decision-making, information management and customer experience improvement.