Text analysis is becoming an essential element of market research, especially when it comes to understanding your customer segments. Businesses of all kinds can benefit from the added efficiency of text analysis to improve the customer experience and move one step ahead of the competition. One key element that powers text analysis is Natural Language Processing (NLP).
NLP is an umbrella term for text analysis that describes a systematic process of breaking down human thoughts into a format the computer can understand. There are now broad applications of NLP that include the way search engines process data to understand our questions, to customer support chatbots, and voice activated assistants. Simply put, NLP is a smarter way of quantifying words. If you want to understand NLP’s role further, read our article, "5 Text Analysis Buzzwords for Market Research"
Our custom-built models effectively categorize customer feedback responses into actionable themes.
Quantify the qualitative. We breakdown raw comments into a measurable polarity between 0 (dislike) and 100 (love).
Customer segments often yields important differences. We cross-compare results across social-demographic customer profiles.