Whether you are running your business in the real world or the virtual world, how efficiently and granularly you analyze the gigantic troves of information lying at your disposal is now considered as the barometer of your success. But for pure-play ecommerce merchants, this is even more important. One of the top constituents of today’s information overload is natural language text. It can be emails, SMSs, word documents, social media conversations, forum posts, search engine keywords, blogs, and so on. Penetrating deeply into textual data by riding on text mining solutions provides web retailers an excellent understanding of consumers’ sentiments around what they offer. In the end, customer experience sprints from the mundane to marvelous, customer loyalty gets a solid push, and revenues inflate. Are you finding these upshots hard to swallow and think that we are making too much of text mining?
Crucial business data is an important asset for every business establishment. Businesses have to deal with both unstructured and semi-structured data sets that are getting generated at the speed of thought. Sources of these data sets might range from social media, application forms, call center records, streaming data from emails, as well as electronic text.