Have you heard about text data? Are you concerned about its relevance to your business? Do you think it’s impossible to democratize text analytics because you lack technical expertise? Are you a small business that wants to grow using user-friendly tools? Then, this article is for you.
You can learn how to leverage text data's full potential without any technical expertise. The content details a practical approach you can employ to improve customer service. Also, it provides tips for implementing text analytics to seamlessly integrate text analytics into workflows. Finally, it focuses on making informed decisions and extracting meaningful value from text data.
No doubt, this content is for your business growth. Follow closely.
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The value of text analytics
Text analytics is a machine learning technique that helps extract valuable insights from unstructured text data. Most top companies prioritize this and even employ analysis tools to process online data and convert them to actionable insights. You can get specific information like names, keywords, and company information from survey responses, topics, or emails via topic and sentiment.
Text analytics studies patterns across several texts and results in reports, graphs, and tables. A modern application is customer service automation. Every serious business owner must monitor the customer journey to ensure maximum satisfaction. Hence, they may need an excellent customer service strategy to achieve this.
Customer service automation refers to a type of customer support made possible by automated customer service software for businesses to improve customer interactions, with or without an agent. Automated customer service prioritizes customer satisfaction by providing 24/7 support while reducing customer service costs. This means automating customer service can handle all customer service tasks or can assist live agents.
Automated customer service tools show how a support manager can resolve support tickets using text analytics. They can create a graph to determine the resolution rate. After that, they can analyze each text to determine if an agent provided excellent customer service. Keep reading to learn more about the appropriate use cases of text analytics.
It is notable to state the importance of text analytics. They include;
Scalability
Rather than waiting for lengthy days, you can employ text analysis tools to structure thousands of pieces of information like chats, emails, social media, documents, and support tickets within the shortest possible time. The goal is that your business can deliver personalized customer service.
Consistency
"To err is human, to forgive divine" is truer with data. Human beings can make significant errors, especially when sorting big data. However, using text analytics tools can make the process faster, less stressful, and error-free.
Real-time processing of information
All forms of businesses deal with information to stay on top of their game. From customer feedback, comments, and customer interaction, you have to be on the lookout to know what they want. However, it is almost impossible to take note of everything. You can uncover hidden patterns or employ sentiment analysis to spot urgent matters in real time.
Your customer service team can extract insights from unstructured textual data to improve customer experience. The real-time processing of information is the way to stay ahead of other competitors. Customers feel closer as they have a voice in your business affairs.
Identifying appropriate use cases
There are several use cases of text analytics. Notable ones include;
Customer service
Here is a secret about top businesses – they always want to improve their customer experience (CX) to encourage consistent patronage. Hence, this may begin with collecting customer data and attending to customer requests to provide high-quality experiences that they want. They employ automation tools for their support team.
Automated Use of Text Tool for Notifications
You can set smart notifications using set rules. They could be reminders for your support agent about unattended service tickets or automated responses for customers to provide relevant information.
Feedback survey
You can set up surveys to collect the information you need to improve customer experience and provide customer support. Automating the timing is advisable so customers can attend to the surveys after specific actions.
Workflow
Businesses can automate their line of work to ensure every task is completed. You can employ workflows to generate email reminders for tickets, notify agents about certain tickets, reply to customers with templated messages, escalate top tickets, and more. You can easily automate customer service.
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Brand monitoring
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Social media monitoring
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Automated ticketing system
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Business intelligence
Interactive Voice Response (IVR) software
When people reach your contact center, the IVR software can greet customers and direct them to the right support channels. The automation technology relieves the strain of human agents. Some responses can be pre-recorded, especially if they apply to common questions or to accept payments.
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LiveChat is a complete customer service platform that delights your customers and fuels your sales.
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Selecting the right tools
There are user-friendly text analytics tools and platforms that are suitable for individuals without extensive technical backgrounds. They include;
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Google Data Studio
This is a free tool that allows business owners to create interactive reports. This way, you can gather data and convert it into an impressive story. You can include the result in your website or share with teams.
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Tableau
Tableau is a visualization tool that is known for its user-friendliness. It allows business owners to organize their data and properly interpret it using advanced tools.
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Looker
This analytic tool allows teams to analyze big data across different databases. You can easily fulfill tailored needs.
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MonkeyLearn Studio
This is another all-in-one visualization tool. It can help to gather and analyze data without any hassle.
Data preparation and cleaning
Why do you need to text analytics? The importance of the accuracy and reliability of text analytics results include;
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Provides insights on your business’ growth
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Knows the problems to fix
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Highlights evolving trends
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Identifies customer’s needs
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Improves the customer service experience
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Measures customer sentiment
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Makes data-driven decisions
Interpreting results and making informed decisions
Business owners have to make choices. While some may be trivial because of their consequences, informed decision-making from analytical findings seem to be far-reaching. Here is the how;
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Identify trends and patterns
Since you have uncovered important gems from data, you can take advantage of the insights to make better business decisions. Pay attention to recurring occurrences, understand how the variables interact, and predict the outcomes. You can uncover causal correlations and relationships to decide what to do next.
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Risk mitigation
Assess risks from trends, historical data, and other relevant information. Examine the probability of their occurrence and make necessary plans to mitigate such risks. For example, you can invest in insurance or cybersecurity to protect your business if data shows indications along these possible challenges.
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Monitoring and evaluation
After making decisions, the next line of action is to evaluate these desired outcomes. With text analytics, you can track progress using various metrics, key performance indicators, and even milestones. Use these valuable insights to stay on track and make necessary adjustments when need be.
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Transparency and accountability
The hallmark of quality decision making is accountability. Thanks to the available data; there is enough transparency. You can then evaluate the reason you make the decisions. This ensures greater trust as you gain more experience.
Challenges and Pitfalls
As a beginner, there are possible challenges you may face. They include;
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Noise in data
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Ambiguous language and
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Changing trends.
However, there are solutions to navigate these challenges and stay on top of your productivity. They include;
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Data cleansing: this process eliminates duplicate or unnecessary data, adds missing data, and fixes formatting errors.
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Data standardization: unstructured data can be ambiguous. Its language, spelling, and grammar can influence the accuracy of the data and make it hard to analyze. You have to standardize the data before you proceed with its analysis.
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Incorporate customer feedback
Integration With Existing Workflows
The simple application you need is the ability to integrate your text analysis into existing workflows. See the process below;
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Create SMART (specific, measurable, achievable, relevant, and time bound) Goals
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Formulate KPIs for your goals
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Determine the metrics to measure your goals (leading indicators)
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Make an intelligent analysis of the leading indicators
Measuring Success and Iterative Improvement
The way to measure success is by customer feedback. If you have a tangible number of satisfied customers, then you have no need to worry. Also, you can learn from the negative ones to improve your services for evolving business needs.
Connect with customers
LiveChat is a complete customer service platform that delights your customers and fuels your sales.
Trusted by 36,000+ companies
Conclusion
Now that you have learnt about how to empower your business with user-friendly tools, it’s time to get started. Consider the several applications and possible impact your business can enjoy. Being able to align text analytics with organizational goals will skyrocket your business and push you to the right step. Get started now and be prepared to survive the competitive pressure from similar businesses.
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