Use the comparison tool below to compare the top Text Analytics software on the market. You can filter results by user reviews, pricing, features, platform, region, support options, integrations, and more.
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Kimola Cognitive is a highly reliable Machine Learning Platform that empowers individuals to automatically extract reviews from over 20 different channels and analyze and categorize customer feedback or any other textual data. These are the top features of Kimola Cognitive: Gather reviews by scraping the web Conduct text analysis and entity recognition with drag and drop Analyze data with ready-made models found on the Kimola Cognitive Gallery Create, train, and store custom machine learning models without coding Generate executive summaries, SWOT analyses, and other impactful marketing materials utilizing GPT Integration Accessible in six languages and increasing
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Netigate's online survey platform for EX and CX allows you to create surveys, distribute them to the right audiences, and measure your metrics and performance over time. With servers in the EU, Netigate is 100% GDPR-compliant. Get actionable insights from customers, employees, and stakeholders in real time. With Netigate you can create your surveys quickly with customisable templates and distribute your surveys at various touch points Link survey data to your own databases via API interface and trigger instant actions e.g. in the event of negative feedback. You can easily share survey reports across your organisation. Specialising in CX and EX feedback, Netigate is the complete solution for companies.
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Amenity Analytics
Amenity Analytics
2 RatingsOur natural language processing technology efficiently reveals insights from vast amounts of text with an unparalleled level of accuracy in the market, while offering the adaptability to fit seamlessly into your unique business and operational workflows. You can achieve significant and consistent outcomes with this approach. A considerable number of our deployed models exceed 90% in both precision and recall, standing in stark contrast to the industry's average of 68%. This remarkable performance explains why Amenity's NLP is relied upon by major organizations across various sectors. It focuses on extracting relevant information while filtering out irrelevant noise. Our NLP processes, refines, and organizes text from millions of documents, converting them into actionable insights for your business. It assesses the context and significance of text, recognizing shifts in meaning from individual phrases to broader paragraphs. Additionally, it allows you to transform any text source into tailored industry analyses and sentiments linked to business activities, providing clarity on the reasons behind the outcomes. With a commitment to transparency, our NLP is customizable to meet your specific needs and adapt to any environment. Ultimately, this ensures you receive the insights that matter most to your business. -
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Leverage advanced machine learning techniques for thorough text analysis that can extract, interpret, and securely store textual data. With AutoML, you can create top-tier custom machine learning models effortlessly, without writing any code. Implement natural language understanding through the Natural Language API to enhance your applications. Utilize entity analysis to pinpoint and categorize various fields in documents, such as emails, chats, and social media interactions, followed by sentiment analysis to gauge customer feedback and derive actionable insights for product improvements and user experience. The Natural Language API, combined with speech-to-text capabilities, can also provide valuable insights from audio sources. Additionally, the Vision API enhances your capabilities with optical character recognition (OCR) for digitizing scanned documents. The Translation API further enables sentiment understanding across diverse languages. With custom entity extraction, you can identify specialized entities within your documents that may not be recognized by standard models, saving both time and resources on manual processing. Ultimately, you can train your own high-quality machine learning models to effectively classify, extract, and assess sentiment, making your analysis more targeted and efficient. This comprehensive approach ensures a robust understanding of textual and audio data, empowering businesses with deeper insights.
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OdinText Text Analytics
OdinAnswers
$999 per month 1 RatingAt the crossroads of Customer Experience and Business Intelligence lies Customer Intelligence, which uncovers the vital link between customer sentiments and the performance metrics that influence business outcomes. With Explore, you can harness the insights necessary for your organization to make significant and informed decisions. Your collection of customer opinions and emotions captured through feedback, surveys, and support interactions can be effectively utilized in OdinExplore for broader analysis. By investigating the themes present in customer feedback, you can identify which topics resonate most with your audience. Explore offers features like auto-terms, the creation of key topics, dictionary applications, and emotional sentiment analysis. You can also segment your data by various demographics, ratings, or timeframes to reveal the differences among customer groups. Running multiple experiments allows you to uncover fresh insights about diverse customer segments, products, and more, ultimately leading to more tailored business strategies. This comprehensive approach not only enhances understanding but also drives continuous improvement in customer engagement. -
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VizRefra
VizRefra
$25Text analysis with viztext 2D and 3D mapping text analysis topic modelling, sentiment analysis, wordcloud. Unique machine learning algorithm that visualizes topics in the text you are trying to find. Text analysis allows topic modeling with navigation through 2D/3D maps. This framework uses referential features to create logical relational topic analyses using zoom-in/zoom-out features on 2D/ 3D maps, including colorful word clouds. Analyzes the sentiment level in the text using a pie chart that shows the ratio of positive, neutral and negative. Graphs highlight the top entities in the text by displaying percentages and highlights. Drag and drop, upload text files or paste text from social media posts. Or enter the HTTP address to find a website that contains the text article you wish to analyze. -
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CheckMarket
CheckMarket
$995 per yearSoftware for enterprise survey in 150 countries. You can conduct insightful surveys and get actionable feedback. Monitor employee experience (EX), customer experience (CX), and engagement. Close the loop using shareable reports, dashboards and alerts. The first step is collecting data. The real value lies within the efficiency of reporting. We provide real-time reporting to help you spot trends sooner and gain deep insight into your organization to improve processes. Once you have completed your report, share it with others. You can create different share links with different filters depending on what you want viewers see based on your operational data, hierarchy, and organization. Integrate with Slack and Zendesk API, CRM, CRM, and more. Unlimited users, works in 49 languages. L'Oreal and Toyota are some of the clients. Allegiance Bank, Sony and the Government of Canada are others. -
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MeaningCloud
MeaningCloud
$99 per monthMeaningCloud is the easiest, most cost-effective, and most cost-effective way to extract meaning from unstructured content (articles, documents, social conversations, etc.). We offer text analytics products that provide the most accurate insights possible from any content in any language. We do it both SaaS-based and on-prem. We have worked in a variety of industries, including pharma, finance, media and retail. We develop tailored and industry-specific solutions. Our scenarios include: * Insight extraction * Analysis of the voice and opinions of the customer, employee or citizen. (User experience analytics and customer experience analytics in general. * Intelligent document automation Our APIs are free to use (20,000 API calls per year). Get our add-ins for Excel or Google sheets. Our integrations with Dataiku RapidMiner, Automation Anywhere, and Automation Anywhere as well as our SDKs (PHP, Python, Java and JavaScript) are available. -
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Delighted
Delighted
FreeDelighted is a turnkey platform for customer experience that helps high-growth companies and established enterprises such as Allbirds, Instacart and Invision, Opentable and Affirm to improve customer loyalty through actionable feedback. Customer feedback can be incorporated into your business strategy within minutes, not weeks. Easily customize NPS, CSAT and CES survey templates in Delighted - Send surveys directly to customers via email, SMS text, in app, or link URL. - Create 2-click integrations: Set up surveys and integrate real-time feedback in your existing toolset, such as e.g. Slack, Salesforce and Shopify, Stripe, Hubspot and many more - Surface trends that need immediate attention using AI-driven survey text analysis and pre-built reports. - Get immediate action with email digests and alerts that you can customize by department so that feedback reaches the people who can make a difference -
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Watson Natural Language Understanding
IBM
$0.003 per NLU itemWatson Natural Language Understanding is a cloud-native solution that leverages deep learning techniques to derive metadata from text, including entities, keywords, categories, sentiment, emotions, relationships, and syntactic structures. Delve into the topics within your data through text analysis, which enables the extraction of keywords, concepts, categories, and more. The service supports the analysis of unstructured data across over thirteen different languages. With ready-to-use machine learning models for text mining, it delivers a remarkable level of accuracy for your content. You can implement Watson Natural Language Understanding either behind your firewall or on any cloud platform of your choice. Customize Watson to grasp the specific language of your business and pull tailored insights using Watson Knowledge Studio. Your data ownership is preserved, as we prioritize the security and confidentiality of your information, ensuring that IBM will neither collect nor store your data. By employing our sophisticated natural language processing (NLP) tools, developers are equipped to process and uncover valuable insights from their unstructured data, ultimately enhancing decision-making capabilities. This innovative approach not only streamlines data analysis but also empowers organizations to harness the full potential of their information assets. -
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LoopVOC
LoopVOC
$149 per monthCustomer insights extend beyond mere surveys; they encompass a broader spectrum of feedback. By aggregating insights from various channels, LoopVOC employs AI to analyze this data in real-time and provides SaaS leaders with the necessary tools to refine their growth strategies. All customer feedback is centralized and analyzed conveniently in one platform. The AI-driven text analytics unveil crucial customer insights, allowing you to focus more on crafting effective solutions rather than just pinpointing problems. With our ready-to-use, B2B SaaS-specific topic modeling, your team can hit the ground running without delay. This approach represents a genuine, real-time understanding of the voice of the customer, eliminating uncertainty regarding their desires. By gaining clarity on the most significant risks and opportunities throughout the customer journey, your team is empowered to proactively address issues that could hinder growth, fostering a collaborative customer program that benefits both your clients and your financial performance. This holistic view helps ensure that every aspect of the customer experience is addressed effectively. -
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Repustate
Repustate
$299 per monthRepustate is an AI-powered semantic search, sentiment analytics and text analysis platform that provides world-class AI-powered data mining for organizations worldwide. It allows businesses to analyze terabytes and uncover valuable, actionable business insights. Repustate offers continuous deep dives into complex, integrated data across all industries, from our respected clients in the Healthcare sector to leaders in Education, Banking, Governance. Our solution drives sentiment analysis, text analytics, Voice of Customer (VOC), video content analysis (VCA), across platforms. It covers the multitude of acronyms, emojis, and slangs that supersede formal language in social media. It doesn't matter if you have data from Youtube, IGTV or Facebook, Twitter, TikTok or your own customer reviews forums, employee surveys or EHRs. You can pinpoint the most important aspects of your business. -
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TextRazor
TextRazor
$200 per monthThe TextRazor API provides an efficient and precise means of uncovering the Who, What, Why, and How within your news articles. It features capabilities such as Entity Extraction, Disambiguation, and Linking, alongside Keyphrase Extraction, Automatic Topic Tagging, and Classification, supporting twelve different languages. This tool performs an in-depth analysis of your content, allowing for the extraction of Relations, Typed Dependencies between terms, and Synonyms, which empowers the development of advanced semantic applications that are context-aware. Furthermore, it enables the swift extraction of custom entities like products and companies, allowing users to create specific rules for tagging their content with personalized categories. TextRazor comprises a versatile text analysis infrastructure that can be utilized either via the cloud or through self-hosting. By integrating cutting-edge natural language processing techniques with an extensive repository of factual information, TextRazor aids in quickly deriving valuable insights from your documents, tweets, or web pages, making it an indispensable tool for content creators and analysts alike. This comprehensive approach ensures that users can maximize the effectiveness of their data processing and analysis efforts. -
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IBM Watson Discovery
IBM
$500 per monthLeverage AI-driven search capabilities to extract precise answers and identify trends from various documents and websites. Watson Discovery utilizes advanced, industry-leading natural language processing to comprehend the distinct terminology of your sector, swiftly locating answers within your content and revealing significant business insights from documents, websites, and large datasets, thereby reducing research time by over 75%. This semantic search transcends traditional keyword-based searches; when you pose a question, Watson Discovery contextualizes the response. It efficiently scours through data in connected sources, identifies the most pertinent excerpts, and cites the original documents or web pages. This enhanced search experience, powered by natural language processing, ensures that vital information is readily accessible. Moreover, it employs machine learning techniques to categorize text, tables, and images visually, all while highlighting the most relevant outcomes for users. The result is a comprehensive tool that transforms how organizations interact with information. -
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TAS Insight Engine
Precognox
€550 EUR /month / user It is all about getting insight. TAS Insight Engine gives you all the information you need to make the right business decisions. In order to support business decision making, getting insight is a type of information extraction from enterprise data. It is clear why insight is so important in today's business world. Understanding your data and getting answers are crucial to meet the challenges of today's market. Every sector and every area is important. TAS Insight Engine combines the best of text analytics, natural language processing (NLP), and machine learning (ML) to make this possible. -
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Copyleaks
Copyleaks
$7.99Copyleaks is a leading AI text analysis platform dedicated to empowering businesses and educational institutions in navigating the evolving landscape of generative AI. With a strong focus on responsible innovation, the company emphasizes integrity, transparency, and ethics while driving technological advancement. Since its establishment in 2015, Copyleaks has utilized the power of AI to promote authenticity and originality. Its award-winning solutions, trusted by millions, support responsible AI adoption, protect intellectual property, ensure copyright compliance, and maintain academic integrity through comprehensive content detection. At the core of Copyleaks is a commitment to merging technology with integrity. The AI Grader by Copyleaks is a cutting-edge test grading solution designed to enhance efficiency, reduce errors, eliminate bias, and provide accurate grading for thousands of tests within minutes. -
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SurveySensum
SurveySensum
$49 per monthGet insights into the most important touchpoints in the customer journey. Take the necessary actions to improve customer satisfaction. To identify potential bottlenecks and improve customer service, measure every interaction with customers. Measuring the willingness of customers and colleagues to recommend your products or services. Identify the most pressing issues and prioritize your actions. You can measure the ease of your product or service experience. Identify the frictions and make it easy. Customers feel different every step of their journey. It is not enough to get feedback once a month. You can identify the most affected touchpoints easily if you collect feedback after each transaction. You can use text analysis to analyze the open-ended feedback from that touchpoint and discover the reason behind friction. -
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PrepAI
PrepAI
FreePrepAI assists content leaders and exam coordinators by streamlining the question paper generation process for both offline and online assessments, thereby saving time and minimizing human errors. This innovative platform enhances state assessments, ultimately fostering student success through realistic practice simulations powered by artificial intelligence. Aimed at enriching educational experiences in schools, edtech companies, and various educational establishments, PrepAI focuses on improving student learning outcomes. Developed by a team of Edtech specialists and forward-thinking engineers, our artificial intelligence platform employs Natural Language Processing techniques to create an effective text analysis engine, ensuring impactful evaluations that significantly enhance the learning process. The dedicated team at PrepAI crafts tailored solutions for individuals and organizations, addressing their specific needs. Furthermore, it supports a comprehensive study program that aligns with educational standards, equipping students with the necessary tools to thrive academically in their future endeavors. By bridging technology and education, PrepAI is committed to transforming the way assessments are conducted. -
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Komprehend
Komprehend
$79 per monthKomprehend AI offers an extensive range of document classification and NLP APIs designed specifically for software developers. Our advanced NLP models leverage a vast dataset of over a billion documents, achieving top-notch accuracy in various common NLP applications, including sentiment analysis and emotion detection. Explore our free demo today to experience the effectiveness of our Text Analysis API firsthand. It consistently delivers high accuracy in real-world scenarios, extracting valuable insights from open-ended text data. Compatible with a wide range of industries, from finance to healthcare, it also supports private cloud implementations using Docker containers or on-premise deployments, ensuring your data remains secure. By adhering to GDPR compliance guidelines meticulously, we prioritize the protection of your information. Gain insights into the social sentiment surrounding your brand, product, or service by actively monitoring online discussions. Sentiment analysis involves the contextual examination of text to identify and extract subjective insights from the material, thereby enhancing your understanding of audience perceptions. Additionally, our tools allow for seamless integration into existing workflows, making it easier for developers to harness the power of NLP. -
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MonkeyLearn
MonkeyLearn
$99 per monthMonkeyLearn simplifies the process of cleaning, labeling, and visualizing customer feedback by offering everything you need in one comprehensive platform, enhanced by advanced Artificial Intelligence technology. This all-in-one text analysis and data visualization solution provides immediate insights when you conduct analyses on your data. You can utilize pre-existing machine learning models or create and train your custom models without any coding. Our templates are specifically designed for various business situations and come with ready-made text analysis models and dashboards. You can pinpoint the topics and interests that are most relevant to your target audience. By leveraging precise analyses of customer sentiments and opinions, you can implement effective demand generation and sales strategies. Analyze your survey results based on requests, intent, and sentiment to gain deeper insights beyond what the survey was initially designed to capture. Moreover, this approach allows businesses to make data-driven decisions that can significantly enhance their engagement strategies. -
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GraphDB
Ontotext
*GraphDB allows the creation of large knowledge graphs by linking diverse data and indexing it for semantic search. * GraphDB is a robust and efficient graph database that supports RDF and SPARQL. The GraphDB database supports a highly accessible replication cluster. This has been demonstrated in a variety of enterprise use cases that required resilience for data loading and query answering. Visit the GraphDB product page for a quick overview and a link to download the latest releases. GraphDB uses RDF4J to store and query data. It also supports a wide range of query languages (e.g. SPARQL and SeRQL), and RDF syntaxes such as RDF/XML and Turtle. -
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EvaluAgent
EvaluAgent
Our Quality Assurance Platform is designed to empower Contact Centers like yours in enhancing the experiences of customers, agents, and users alike for greater success. By answering a few straightforward questions, you can discover your current position on the path to Smart Quality, and we will offer tailored recommendations to elevate your QA practices. Reduce risks by consolidating customer feedback, performance metrics, and text analytics to swiftly pinpoint conversations that need your focus. Seamlessly integrate and retrieve conversations, survey feedback, and performance data within the most comprehensive QA and improvement platform available. Automatically score every call, email, and chat interaction to identify breaches in customer experience and compliance. Customize your own signals and filters to direct specific conversations to your QA team for thorough evaluation and analysis of root causes. Create actionable reports that your business can effectively utilize. Additionally, illustrate the return on investment by tracking how your QA initiatives enhance efficiency, drive sales, and boost both customer and employee satisfaction levels. By leveraging our platform, you can not only maintain high standards but also foster a culture of continuous improvement within your organization. -
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Semantria
Lexalytics
Semantria (natural language processing) API is offered by Lexalytics, a leader in enterprise sentiment analysis and text analysis since 2004. Semantria provides multi-layered sentiment analysis, categorization and entity recognition, theme analysis as well as intention detection, summarization, and summary in an easy to integrate RESTful API package. Semantria can be customized through graphical configuration tools. It supports 24 languages and can be deployed across public, private and hybrid clouds. Semantria scales easily from single servers to entire data centres and back again to meet your processing needs. Integrate Semantria for powerful, flexible text analytics and natural word processing capabilities to cloud-based data analysis products or enterprise business intelligence infrastructure. To create a complete business intelligence platform, you can add Lexalytics storage or visualization tools to store, manage, analyze, and visualize text documents. -
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Etuma
Etuma
The Etuma text analysis service transforms your open-ended customer feedback into reliable and actionable insights. When you receive large volumes of open-text comments from various sources, it becomes challenging to systematically convert them into timely and useful information. The manual process of reading and categorizing each comment proves to be slow, costly, and lacks consistency. While you may have explored keyword analysis, it often fails to yield statistically significant or actionable insights. Furthermore, feedback collected from different processes and channels tends to remain segregated, causing valuable information to be trapped within organizational silos, accessible only to a select few. Etuma offers existing integrations with numerous survey, customer experience management, and contact center platforms, while also allowing you to link any spontaneous feedback channels such as email or web forms, ensuring that every piece of feedback can be effectively utilized. By leveraging this service, you can enhance your understanding of customer sentiment and improve decision-making across your organization. -
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Mopinion
Mopinion
$229/month All-in-One Software for Digital Channel Feedback Mopinion is a digital platform that helps digital enterprises listen, understand and act across all digital touchpoints (website, mobile, and email). Mopinion allows its users to create customisable online feedback form (including various CX metrics like NPS, CES and CSAT) and trigger them based upon rules such as mouse movement and time on page. It also allows for comprehensive visualisation via customisable dashboards, text analysis, and smart labeling. Users can use proactive alerts, role-based views, and connect to PM tools like Trello or Asana to receive feedback and collaborate with other members of your digital team. +Customisable feedback forms +Real-time statistics Integrations with +API +Various CX metrics +Text analytics +Advanced reporting capabilities Mopinion pricing starts at $35 USD/month
Overview of Text Analytics Software
Text analytics software is a type of software used to uncover insights from any form of textual data or content. It enables businesses to analyze large volumes of unstructured data and extract insights that can help them better understand customer sentiment, business trends, and other important topics related to their operations.
At its core, text analytics software uses natural language processing (NLP) algorithms to perform various tasks such as text classification, entity extraction, sentiment analysis, topic modeling, summarization and more. These algorithms are utilized in order to process large chunks of text into structured information that can be easily analyzed. In this way, it makes the information contained within the data easy to comprehend and use for decision making.
The primary purpose of text analytics software is for businesses to gain valuable insights from their customer feedback as well as any other form of textual content they have access too like survey responses or blog comments. This can enable a company not only to gain insight into how customers view their brand but also discover trends in the market which could provide them with potential new opportunities for growth or improvements that need addressing in order for them to stay ahead of the competition.
Text analytics software usually works by taking a corpus of documents (such as customer reviews) and applying various NLP techniques which allow it to extract key terms and concepts from the data. It then uses these extracted terms and concepts in order to generate meaningful insights through two main approaches: quantitative methods (like frequency analysis) or qualitative methods (like topic modelling). The generated results may include summaries about key topics discussed in the documents, sentiment analysis with an indication of whether customers are generally happy or unsatisfied with a product/service provided by a business, etc.
Text analytics software can be used by businesses across many industries including healthcare, finance, retail and marketing where its ability to quickly analyze large amounts of unstructured text provides invaluable insights that can be leveraged for decision-making purposes. Furthermore, such tools often come equipped with various features such as auto-tagging capabilities which allow organizations to automatically assign tags (or labels) based on certain keywords found within free-form textual documents so they don’t have manually go through each individual document one by one looking for important words or phrases related to their search query.
In conclusion, text analytics software is an essential tool for businesses who want to make informed decisions based on real-time customer feedback as well as other forms of unstructured data they may encounter along their journey. It can help organizations gain a better understanding of customer sentiment, discover trends in the market and uncover potential opportunities that they might have missed otherwise.
What Are Some Reasons To Use Text Analytics Software?
- Increased Efficiency: Text analytics software can process large amounts of text and quickly derive conclusions that would take a human much longer to compile, allowing organizations to efficiently glean insights from data.
- Discover Patterns and Trends: Text analytics software can quickly identify patterns in data, helping organizations better understand their customers’ needs and preferences. Additionally, they can uncover trends that might otherwise go unnoticed and help inform business decisions.
- Automated Analytic Capabilities: Text analytics solutions allow for automated analysis of customer feedback or surveys, making it much easier to track changes over time and measure the impact of marketing campaigns or product changes.
- Access to Actionable Insights: By leveraging natural language processing (NLP) techniques such as sentiment analysis and categorization, text analytics solutions provide rich insights into customer sentiment which can be used to make timely decisions about future product features or services offered.
- Cost Savings: Text analytics solutions are often more affordable than hiring an analyst or researcher to manually review documents or survey responses, providing significant cost savings for businesses looking for ways to reduce overhead expenses.
- Increased Accuracy: By automating the analysis process, organizations can achieve more accurate results than manual review, ensuring that decisions are based on reliable data and not human bias.
- Improved Compliance: Text analytics software can be used to ensure that an organization is in compliance with applicable laws and regulations by scanning documents for potential violations, reducing the risk of costly penalties or fines.
Why Is Text Analytics Software Important?
Text analytics software is an important tool in modern business operations. It provides data-driven insights that can help organizations gain a better understanding of their customers, employees, markets, and competitors. With text analytics software, companies can process large amounts of customer feedback data quickly and accurately to identify trends and determine areas for improvement or growth opportunities.
The ability to effectively analyze customer feedback allows companies to develop effective marketing strategies based on what their customers are saying rather than relying solely on intuition or guesswork. Text analytics also helps marketers understand how products and services are being received by different audiences so they can tailor their messaging accordingly. Additionally, it enables companies to track the success of campaigns in real-time so that they can make more informed decisions about where to invest resources for optimal return on investment.
Text analytics also has benefits in the area of human resources. For example, it can be used to uncover employee sentiment which is essential when looking at overall engagement levels within an organization. By analyzing emails and other internal communications between coworkers, management teams are able to assess team dynamics and pinpoint any potential issues that may need improving before they become bigger problems down the line.
Overall, text analytics software is providing businesses with access to valuable insight that was not available even a few years ago — allowing them to make more strategic business decisions with greater confidence than ever before.
Features of Text Analytics Software
- Text Summarization: Text summarization software summarizes large blocks of text into shorter summaries that are easy to read and understand. The software can analyze the text to create an accurate summary without having to manually read through long pieces of content.
- Named Entity Recognition: Named entity recognition (NER) is a feature found in natural language processing tools designed to identify words or phrases in a given piece of text that reference people, locations, organizations, dates, and more. This helps companies mine insights from unstructured data sources by categorizing those entities so they can be organized and grouped together for further analysis.
- Sentiment Analysis: Sentiment analysis is the process of analyzing customer feedback or opinion-based data to determine whether someone has expressed a positive or negative sentiment about something—in this case, some type of product, service, or brand. By understanding how customers feel about different things, businesses can use this information to make better decisions based on customer satisfaction and loyalty scores.
- Keyword Searching/Extraction: Text analytics software typically includes keyword search capability which allows users to enter specific terms into their query in order to pull relevant results from whatever source they are looking at — including unstructured documents like emails and reviews. Extracting keywords from a given document helps users quickly pinpoint important topics within the bulk of text stored in databases.
- Topic Modeling: Topic modeling is another form of machine learning that automatically extracts topics from large amounts of texts by identifying recurring patterns with statistical methods such as Latent Dirichlet Allocation (LDA). This way businesses will gain new insights related to trends and customers’ preferences by discovering latent topics hidden within their data sources without spending days trying decipher them all manually.
Types of Users That Can Benefit From Text Analytics Software
- Businesses: Text analytics software can help businesses monitor customer sentiment, predict future trends and analyze business initiatives to improve outcomes.
- Marketers: Using text analytics software, marketers can gain insights into consumer preferences and create more effective campaigns.
- Researchers: Text analytics software enables researchers to explore large amounts of data quickly and uncover hidden relationships or patterns.
- Professionals: From legal professionals to data scientists, text analytics software allows professionals to gain deeper insights into their domain quickly and efficiently.
- Writers/editors: Text analytics tools enable writers and editors to review large documents quickly by scanning for errors or inconsistencies.
- Health Care Providers: Healthcare providers can use textual analysis to identify correlations between patient symptoms, medical histories, and diagnoses.
- Politicians/Organizations/Governments: Organizations in the public sector can utilize text analysis tools for examining trends across a range of topics such as policy changes or political opinions from constituents.
- Educators/Instructors: Instructors leveraging educational technologies such as adaptive learning platforms can use text analyses for analyzing student engagement with course materials on an individual basis.
- Journalists: Text analytics software can quickly reveal trends in news sources and help journalists uncover stories or lead to deeper investigations.
- Customer Service Representatives: Text analytics software can enable customer service representatives to analyze customer inquiries, develop better problem-solving strategies and improve customer satisfaction.
How Much Does Text Analytics Software Cost?
Text analytics software can cost anywhere from a few hundred dollars for basic tools up to tens of thousands of dollars for more powerful enterprise-grade solutions. The exact cost depends on the size and complexity of your business, the features offered by the product, and the level of support you need. At a minimum, text analytics software will include capabilities such as extracting key topics from documents or conversations, categorizing data accurately into themes, summarizing large text capacities quickly and providing insights from customer feedback.
For businesses looking to get started with text analytics without making a large up-front investment in software licenses or servers, there are cloud-based services that offer subscription plans starting around $30 per user per month. These services usually provide all the features needed to start analyzing texts but might have limited scalability compared to an on-premises solution with unlimited storage capacity and processing power.
At the higher end of the price range, dedicated hardware architecture with specialized storage plus advanced analytical algorithms can run up to six figures, depending on usage volumes and other requirements. For example, many organizations must invest in expensive server clusters capable of handling huge amounts of data before they begin analyzing it in real time. If this is part of your plan then budgeting for additional personnel such as data engineers or analysts who will maintain these systems should also be factored into any cost estimates you make.
Finally, it’s important to remember that text analytics software is not a “one-time purchase”. Most products will require periodic updates to stay current with advances in the field, and some of these can be costly depending on the vendor. It's also wise to factor in ongoing support costs for maintenance and technical assistance if you need help troubleshooting an issue or need professional advice about implementing new features or technologies.
Risks To Consider With Text Analytics Software
- Data Security Risk: Text analytics software stores large amounts of user data, which may not be sufficiently protected from unauthorized access. This could lead to a breach of personal information or other types of malicious attacks.
- Algorithmic Bias: Algorithms used in text analytics software may have inherent biases which can lead to inaccurate results and distorted insights.
- Over-Reliance on Automation: Relying too heavily on automated text analysis can lead to weaker conclusions due to lack of contextual knowledge that humans possess.
- Undetected Errors: If the text analysis is incorrect due to undetected errors, this could create problems with decision making based on the output data.
- Regulatory/Legal Compliance Risk: Companies using text analytics need to ensure they are aware of relevant laws and regulations governing the usage and processing of sensitive information, such as customer or employee data.
- Accuracy Issues: There is a possibility of errors in the output data due to inaccurate processing and analysis. This could lead to incorrect decisions based on the output data.
- Privacy Issues: Text analytics software makes use of personal data to generate insights, which could lead to privacy concerns if not properly managed.
- Cost: Text analytics software can be costly to purchase, maintain and upgrade. This may not be feasible for smaller companies or those with limited budgets.
- Time Consuming: In many cases, the process of text analytics is time consuming and labor intensive. This could lead to delays in data processing and analysis.
Text Analytics Software Integrations
Text analytics software can integrate with various types of software, including Customer Relationship Management (CRM) software, enterprise management systems and data integration platforms. CRM software stores customer information and allows text analytics to extract relevant data from this source. Enterprise management systems provide a secure environment for analytics experimentation and exploration of the results generated by the text analytics. Finally, data integration platforms enable real-time analysis of incoming streams of textual data by integrating with text analytics solutions.
What Are Some Questions To Ask When Considering Text Analytics Software?
- What features does the software offer?
- How user-friendly is the software?
- Is there an associated cost for using the software?
- Can customers analyze multi-lingual data with this software?
- Is it possible to customize visualizations and reports using this text analytics software?
- Does the platform have integration capabilities with third-party tools, such as databases or other sources?
- What kind of customer support is available if problems arise while using the platform?
- Are there any security features included that will help protect sensitive data processed through the system?
- Does the platform provide real-time analytics or historical data analysis?
- Is there scalability so that organizations can easily expand their use of the software as needed?