Text analytics is an automated process that unlocks a world of information from a variety of platforms like social media, websites, blogs and surveys. A comprehensive analysis of texts, images, video and audio communication acts as important catalysts behind superior business intelligence for small and big enterprises.
It is critical that the text analytics software that a business decides to procure to gain high-precision results is equipped with intelligent features that take into account the specific requirements of the business, besides aspects of speed, multi-lingual efficacy and scalability.
Here is a list of vital features that a business entity must consider while choosing a text analytics tool suited to their business needs and goals:
1. Customisation
The business goals of every organisation differs and the decision on text analytics API is dependent on the unique requirements of the company and the industry vertical. Each business will have different data sets to work with. Modifying algorithms and natural language processing methods and customising them to the specific needs of the company is necessary to derive effective and accurate results.
2. Speed
An efficient processing speed to crunch and analyse scores of unstructured data is a prerequisite in text analytics. There are terabytes of data generated via emails, videos, presentations, advertisements and scores of other online content, in multiple forms and languages.
This voluminous and unstructured data in the form of surveys, posts, news, blogs and user-generated videos can only be analysed effectively with the right speed. Ideally, in sentimental analysis, the tool should process and analyse no less than 500 posts per second.
3. Accuracy
An extremely critical factor in text analytics is accuracy. In order for results to be accurate, the text analytics API should have access to a bulk of data, also called corpus. For multiple language analysis, the corpus or the machine-learned training should be in that many languages so that the algorithm understands them and produces precise results. Besides, humans communicate in different tones, remarks and emotions that could have varied meanings and interpretations.
Therefore, the tool’s capability to accurately understand the tone and sentence in a piece of communication is critical in the tool’s assessment and analysis process. Sentiments are classified using multiple points or scores for references that are positive, negative, bad, like, dislike and neutral etc to produce accurate results.
4. Language detection
In this globalised era where businesses are operating in different parts of the world and interacting and operating with international markets, the conversations around products and services can happen in different languages.
Therefore, the software’s capability to analyse multiple languages has become very critical in this day and age. A text analytics solution has to focus beyond English and understand the semantics, dialects and sentimental models of many other languages to draw an accurate analysis. While examining reactions on social media, many tend to resort to their native language to express emotions, so the tool that is equipped with processing that language can provide better insights.
5. Dashboard and visualisation
It is important that the text analytics API be equipped with enhanced dashboards with multiple visualisation options and graphic representations. This will help understand the data better and provide a clear insight into the derived data for decision-making and problem-solving.
A visualisation dashboard can enable viewing of the data in real-time about the current trends and performances which will in turn help companies make timely changes to the products or services.
6. Social media extraction
The digital world is taken over by posts, reactions, feedback and sentiments on social media. Therefore, the text analytics software’s capabilities to infer and understand slangs, emojis, hashtags and short forms and other social media vernacular is critical in ensuring the data and information derived is infallible.
A tool that has the ability to break into the new-age social media platforms like Twitter, Facebook, Instagram or YouTube and understand the emotions and slangs of social media users on a product or service will help in getting a more comprehensive feedback and thereby improve services of a business.
Learn how Textrics can provide an all-in-one analysis for different formats of unstructured data. Sign up for our free demo now:
