RESEARCH & RESOURCES

TDWI Checklist Report | How to Gain Insight from Text

September 17, 2013

Text is everywhere—and its volumes are growing rapidly. Text analytics, a technology used to analyze the content of this text, is rapidly gaining momentum in organizations that want to gain insight into their unstructured text and use it for competitive advantage.

Text analytics is being used across industries in numerous ways, including customer-focused solutions such as voice of the customer, churn analysis, and fraud detection. In fact, many early adopters have used the technology to better understand customer experience, and this is still one of the most popular use cases. However, text analytics is also being used in other areas such as risk analysis, warranty analysis, and medical research.

Text analytics can help answer questions involving why and what. For example, why did my customer leave? What is causing the increase in service calls? What are the best predictors of a certain risk? Text analytics can aid in discovery and improving the lift or accuracy of analytical models. This impacts an enterprise’s top and bottom lines.

Companies are realizing that text is an important source of data that can improve and provide new insight. The questions these companies face include where to start and how to think about text as data. Download this Checklist Report to get started with text analytics.

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