AI-powered text analytics software is a part of the customer data platform as it helps businesses to gauge customer sentiment for making better decisions.

Raw unstructured textual data extracted from emails, blogs, tweets, feedbacks, etc. holds immense business value. After performing a high-level analysis, this data can unlock several business opportunities ranging from new product ideas to stronger customer relations. Artificial intelligence (AI) technologies like machine learning, deep learning, and cognitive search further improve data analysis and reveal previously unknown correlations.

These technologies are proving to be effective at performing an extensive analysis of textual communications. AI-powered text analytics enables businesses to gauge customer sentiment for making better decisions that improve customer relations and drive revenue.

In this article, we will explore the nitty-gritty of text analytics and its benefits for eCommerce businesses.

Significance of Unstructured Data

**Source: **TechTarget

Text in any form, be it tweets, feedbacks, reviews, blogs, emails, social media conversations, etc. can reveal valuable information about the customers’ likes/preferences and buying habits. The availability of an effective data analytics solution enables businesses to significantly improve their day-to-day operations. Customer feedback data is growing exponentially creating challenges for businesses to back their decisions with insights. Big data statistics show that two-thirds of the data generated today is by individuals rather than companies and enterprises. A majority of this data is generated through social media platforms in the form of views, comments, posts, etc. Such user-generated data has high business potential with unique opportunities waiting to be discovered.

Lack of resources makes it difficult for businesses to manage and analyze this data that can help them make key business decisions. Moreover, this data is generated daily so it is critical to be able to understand and extract valuable information from it.

For eCommerce businesses, understanding customer needs and issues can lead to delivering smooth customer experiences. Textual communications with customers can provide actionable insights to improve services and deliver better shopping experiences to customers.

Let us understand how text analytics can bring a whole new perspective to way eCommerce businesses improve customer relations and drive sales.

#ai #artificial intelligence #ml #sentiment analysis #text analytics #data analytic