Preference for digital channels generates massive volumes of big datamuch more data than what organizations can collect, correlate and assess. The quantity and speed with which data is generated, as well as the diversity of that datamuch of which is unstructured and difficult to analyzecan pose a huge challenge for customer centric players; minimizing their opportunity to take timely action and increase profitable outcomes.
In addition, the rise of mobility and proliferation of communication channels is further complicating the task to manage people and processes required to respond to consumer expectations in a consistent, personalized and contextual manner.
By analysing contemporary text-based channels, such as web chat, email, social media, sms and survey notes organizations can gain deeper insight into process and performance gaps. Text analytics can also help map customer experience issues and opportunities. With the European General Data Protection Regulation (GDPR) coming to play, text analytics can also drive compliance by quickly revealing regulatory breaches and failure to adhere to internal policies.
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