January 2015

Text analytics helps Customer Experience & Marketing teams dig deeper.

• The recent automation of text analytics allows for fast, reliable and insightful analysis of a huge amount of unstructured data in near real-time.

• This presentation outlines how you can take advantage of text analytics and how you can do so most effectively.

• Check out the final slide for more ways of exploring text analytics.

Four ways text analytics is now adding value

• Reducing churn

– What do customers say before/after they switch?

• Answering the questions that structured data raised originally

– Text analytics gives the ‘Why?’ to the ‘What?’ you’ve already seen.

• Being first to spot the added-value opportunities

– See what your competitors’ customers like/hate about their brand

• “Brite Lite Insights”

– Through single-issue, fast turn-around research

How has text analytics been used recently?

• Resolving confusing NPS

– Anderson Analytics helped Jiffy Lube resolve why sales didn’t correlate with NPS score

• Qual meets quant

– Clarabridge worked with a US airline to better capture the Voice of the Customer

• Correcting customers’ perceptions of staff

– Verbal Identity worked with a UK ‘big 4’ supermarket to identify underlying causes of customer dissatisfaction

The 4 Basic Requirements for a text analytics project to be commercially usable:

• Repeatable

• Timely

• Robust

• Zero or low disruption to your organisation

Expensive dead ends to avoid

• “Hire a monkey to flip a coin.”

– Don’t waste time on sentiment analysis. It’s no more accurate than a coin toss.

• “Health vs. Wealth.”

– Recognise the relative values of ‘dashboarding’ vs ‘actionable insights’

• “If it takes more than a month to build or 15 minutes to explain, something is wrong.”

– A pilot project can be up and running in 4 weeks, with no input required from IT dept.

• “Excel never told you what to do, Word never wrote a great novel.”

– It’s the interpretation of the results that adds value. Hire people like Verbal Identity to understand the results. “We understand words like other people understand numbers.”

How to start with Text Analytics 1

• Start with a ‘conversation of possibilities’

– What could and couldn’t this project discover

• Set clear goals

– Handy when the project starts throwing up other interesting discoveries

• What can you afford?

– Not just money, but how much time and disruption?

• Find the best fit software

– Depends on your budget, timings and hunger for change.

How to start with Text Analytics 2

• Data is nothing without interpretation

– Case study: “The girl was rude”. Which part of this sentence reveals most about why the customer’s interaction with the staff member went wrong.

• Jump, don’t dive

– Conduct a brief Proof of Concept project : up and running in 4 weeks is not unreasonable.

Where Verbal Identity fits in

How we can help

• We are the only UK company to combine Text Analytics and Linguistics

– We don’t sell software: we help clients identify what useful data they already have

– We recommend the most suitable software

– We use linguistics to interpret the results and provide board-ready, actionable insights

Further information and explanation

• If you are looking to discover more about your customers’ motivations, reduce churn, spot competitive opportunities or monitor customer satisfaction behind NPS scores, please get in contact.

– Download our new White Paper at:

http://www.verbalidentity.com/wp-content/uploads/2014/10/text-analytics-cold-hard-numbers-and-bright-insights-FINAL.pdf

– Email us for a discussion: textanalytics@verbalidentity.com