Text Analytics for Business: Use QDA Miner and WordStat to Get Ahead of the Competition September 9, 2016 - Blogs on Text Analytics
Just to name a few: Email, company internet and intranet, Facebook, twitter, customer feedback, online reviews, employee chat groups, employee surveys, performance reviews, exit interviews, analyst reports, supplier feedback, safety reports, quality control, sustainability and environmental reports…the list goes on and on. One thing all these and many other channels have in common is unstructured text. Another thing they have in common is they contain valuable data that if properly analyzed and tracked can, without question, help you improve your business.
No doubt, someone and probably many people in your company are reading a portion, but not all of this “data.” And they probably aren’t connecting it across departments, finding similarities, trends and tracking change over time. If you are like most companies, you are just scratching the surface of the data and not extracting or discovering the whys and wherefores of people’s actions or feelings about their jobs, your products and your company. The main reasons are time, money, volume and format. Text in small bites, makes sense to people and in small volumes can be analyzed manually. But in large volumes this isn’t possible or becomes cost prohibitive because of the people and hours involved. In today’s digital, social media world the volumes are huge. This is where specially designed text analytic tools like Provalis Research qualitative text analytics software QDA Miner and WordStat can help you to properly analyze your unstructured text data and get ahead of the competition.
A recent study demonstrated the benefits for companies using text analytics tools in areas of risk management, quality control, enhanced customer experience, customer retention, cost savings and efficiency. A telecom company improved its response to customer email and significantly reduced error rates. A manufacturing company used text analysis to perform a large scale literature review of a potential acquisition target and discovered issues that resulted in the cancelling of a multi-million dollar acquisition. A financial services company evaluated messages between the firm and its customers and was able to put into place a new system that increased customer retention and cross-selling.
Companies including Bank of America, Voya Financial, Deloitte, Ford Motor Company and many others (see our website provalisresearch.com ) use QDA Miner and WordStat to maximize their business processes, improve efficiencies and reduce costs. Provalis Research qualitative and quantitative content analysis software can help you make your business better. Contact us to find out more and to schedule a demonstration, using your own data sets, so we can show you how our QDA Miner and WordStat text analytics software can work for you.