Mainstreaming of social & natural language analytics

Grit Report Graph 1

Of all the new research methods examined by the GRIT Report (published by GreenBook Blog) in the past two years, three are of particular interest.

GRIT found that 45% of MR clients and suppliers plan to use online communities for research in the future, followed by 36% for social media analytics and 32% for text analytics. The optimism towards these techniques is officially a growing trend.

At Colourtext we’re struck by how the opportunities and challenges presented by each of these techniques are closely inter-related to each other. Online Communities and Social Media monitoring activities generate huge volumes of consumer feedback. Most of this material arrives in the form of natural language text messages and posts.

It’s hard to imagine how this wealth of unstructured ‘customer voice’ feedback can be adequately processed, analysed and acted upon without powerful natural language analytics tools.

Interestingly, text analytics showed up as fourth among all techniques that will be used in the future – the same ranking as in 2012. Nearly one third of MR clients and suppliers report already using it with a further 37% closely considering text analytics as a technology they are considering for use in the future.

This indicates a steady evolution is taking place within the market’s perception and understanding of a natural language data revolution that’s been started by new social web technologies.

It’s also worth noting that GRIT reports visualisation analytics jumping from number 10 in 2013 to 6th place today. A full 54% of respondents believe they will be either using of considering what role data visualisation techniques will play in their organisations.

At Colourtext we think this reflects a growing need for analytics to make it simpler to pull out the stories from huge volumes of market feedback.

Moreover, if this can be done in a visually compelling way that makes it easy for non-analyst colleagues to see the picture, so much the better.

To find out more about Colourtext, you can download our presentation “Introduction to Colourtext” here.

If you would like to get in touch with Colourtext please email jason.brownlee@colourtext.com.

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