What is Text Analytics? Descriptive, Predictive and Prescriptive

Rebekah Carter

Exploring Text Analytics in the Contact Centre

Strategy
What is Text Analytics? Descriptive, Predictive and Prescriptive

Valuable insights into customer perspective, expectations, and requirements are everywhere. Companies just need to know where to look.

In an age where experience is the most valuable thing a business can invest in, knowing how to read between the lines with your audience is crucial. Today’s market leaders need to understand every interaction with a client on a deeper level, considering things like sentiment, keyword trends, and even specific language use.

Text analytics is one form of evaluation in the contact centre which helps to gather and transform unstructured textual information into meaningful, actionable insights. Through text analytics, you can map a better view of your customer’s journey and come up with solutions for future growth.

Understanding Text Analytics

Text analytics is a tool intended to help contact centres and business leaders transform interactions into useful, guiding information. You can collect information from all kinds of written conversations, including live chat discussions, SMS, and email.

Most of the time, experts separate various kinds of text analytics into different groups, including:

  • Descriptive analytics: Analytical strategies which gather data from unstructured text, giving insight into trends. Topics and general trends are easy to see here, so you can get a broader view of the customer journey
  • Predictive analytics: Through the evaluation of historical information, companies can gain a better insight into the needs and expectations of customers. The more information collected and the deeper the understanding of the customer becomes, the more businesses can “predict” future trends and outcomes. You can accurately forecast things like an increase in customer demand, change in customer preference, and more
  • Prescriptive analytics: This kind of text analytics assists in defining a contingency plan for the future. You can leverage predictive analytics and transform them into practical plans for the future. Some tools even come with AI algorithms that can suggest strategies based on your data

Leveraging Text Analytics in the Contact Centre

As the contact centre grows increasingly omni-channel, the opportunities for text analytics are growing. There are even NLP (Natural language processing) tools and speech-to-text solutions which can convert your spoken conversations into written data for analysis. The more data you collect, the deeper your understanding of the customer, contact centre, and employee processes become.

Through text analytics, companies can better identify the points that matter most to their customers and employees, extracting valuable data from each call or interaction. The software can mine text resources for insights into customer sentiment in different situations, or intention, and how it affects the buyer journey. It’s even possible to envision and predict trends before they appear in the market, just by sorting through some of your text-based conversations.

Whether offered as part of a real-time reporting strategy, or a historical trend analysis tool, text analytics could be a crucial step forward in understanding the customer journey, and voice of the customer. Combined with things like speech analytics, natural language processing, and call recordings, text analytics gives business leaders a much clearer view of their audience.

 

 


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