How to use text analytics to upgrade your business

How to use text analytics to upgrade your business- Poslovna inteligencija
At some point in time, you've probably come across the term Data Science and like the majority of people, it sounded interesting, but also complicated. So many terms, statistics, but no examples of how to use it for your business. Today, we are going to show you how to use text analytics to understand your customers and business better.

Last week, Poslovna inteligencija had a webinar on the topic „Understand your customers the smarter way“ – This webinar was a trigger for this blog post so feel free to combine both.


What is text analytics anyway?

Text analytics is the automated process of translating large volumes of unstructured text into quantitative data to uncover insights, trends and patterns. Speaking in plain English, instead of manually reading any kind of text important for your business (social networks, user reviews, PDF files, internal resources) you can use text analytics to do it for you. It is pretty cool, right?


How can text analytics help my company?

Depending on the specific industry, potential areas are different, but generally speaking, there are four areas in which you can use text analytics to improve your business:


• Competitor Comparison

What are customers talking about your competition, do they love them or hate them?

• Brand perception

How do your customers perceive your brand? How will you use this knowledge in the future, will you shape your brand perception differently?

• Areas of concern

Are your customers talking badly about a specific part of your product or service?

• Future products

Did the customers hint you what your future product should be?


Given your industry, where can you use text analytics? Remember, anywhere you have a lot of text, you can use text analytics!


To give you an example:

Let’s have a look at how Amazon Fire tablet (2016 version) is perceived according to Amazon reviews! In case you are not familiar with the Amazon Fire tablet family, Fire tablet is Amazon’s answer to providing a cheap alternative for people who are not heavy users and prefer reading/listening books or watching movies on the tablet. For instance, Amazon Kindle family of products’ sole purpose is for reading and they do the job well…with 100+$ tag on them. Amazon Fire tablet you can buy for little as 40$ and it gives you more possibilities.

The process of doing text analytics looked like this:

Process of doing text analytics First, we got the Amazon review data which was delivered in a csv file. We then cleaned up and processed the data using R Studio. Using this prepared data, we made charts which we used to gain insights.


What did we found out?

As you can see clearly from the chart below, the majority of reviews for Amazon Fire tablet are written around holidays (Christmas, New Year) which indicates this particular product is often purchased as a gift.


Text analytics - the number if reviews

Now, what about the reviews itself, can we get an idea in a few minutes about what people have been writing the most? Of course we can! J

If you look at the chart below, you will see that words such as „easy“ and „love“ were used quite often, alongside „tablet“, and „price“. Words such as „gift“ and „Christmas“ also make the list.


Text analytics - most common words


Word network in text analytics

Now that we know which words were used in the reviews, the next step is to see how the words correlate with each other so that we can get a deeper insight. If you look at the graph, we see that the words „tablet“ and „price“ have the strongest correlation which is logical since the price is great. But, we can also see that words such as „kids“, „love“, „easy“ strongly correlate with the word tablet so it is safe to say that this tablet is a good choice if you need to keep your kids occupied since it’s easy to use. Also, for you A+ students here, „kindle“ and „tablet“ have a relatively strong connection which hints that customers are reviewing this as a kindle alternative.


Word network - text analytics


How does sentiment analysis work?

Lastly, we will look at the word sentiment. Word sentiment in this context is determining are people using certain words in a positive or negative way, and this is customized for every client. In our particular case, we can see that the customers reviewed Amazon Fire in a positive manner. Most common positive words were easy, love, perfect, nice, while negative were cheap, slow, expensive and issues. All in all, if we look it from Amazon’s perspective, the product itself was a hit! People predominately love it and while there are some bad reviews, a large majority of reviews are positive.


sentiment analysis - Text analytics

For more detailed case, you can watch our webinar „Understand your customers the smarter way“ – watch it and explore how to find added value in your data and transform your business!


To conclude


„Data always finds another data, but the relevance finds you“

Text analytics can have many possible applications and we showed you just one, probably the most obvious one. We hope that after reading this you will get an idea of how you can use text analytics for your business. In case you are still not sure how text analytics can help your business, feel free to contact us and we will give our best to help you.


[gravityform id=”9″ title=”false” description=”false”]

Latest blog posts

At Poslovna inteligencija, we are data experts. Our dedication to transforming business data utilization has led us to a partnership with Tableau, the global frontrunner in data visualization. This partnership is more than just a collaboration; it's our commitment to arm companies with the tools they need to unlock the full potential of their data.
In the age of digitalization, data is like the new oil. But extracting value from data over the long-term requires a strategy – and this post will help you establish one. We’ll cover why data strategy is important, how data strategy supports business strategy, and the 9 essential elements your data strategy should contain to be successful. Let’s dive in.
Environmental, Social, and Governance (ESG) reporting is not just a business trend but a regulatory necessity. It has become a crucial framework for assessing a company's impact on society and the environment, as well as its governance practices.
Financial consolidation is challenging for many reasons, but the biggest one for large enterprises is managing the complexity of the financial data itself. We will show you how IBM Cognos Controller can simplify the process and what are the best practices to maximize efficiency in financial consolidation.
Businesses are increasingly accountable for their impact on the world, so that is why Environmental, Social, and Governance (ESG) reporting has emerged as a pivotal tool for organizations to communicate their commitment to sustainability and ethical practices.
In today’s digital age, data has become just as important as the products themselves. But for it to become valuable, data needs to be governed. In this article, you will learn how to implement a data governance strategy, as well as how data maturity assessments can help your organization get from simple data management to real-time data governance.
Financial consolidation is an essential process for an organization, especially if it has multiple entities. As a finance manager or executive, it empowers you with a complete understanding of your organization's financial well-being, enabling you to make informed decisions about where to allocate resources and how to plan strategically.
In today's competitive business landscape, maximizing profitability and unlocking your organization's true potential are critical to sustained success. PI Profitability Solution, powered by the IBM Planning Analytics with Watson platform, helps you achieve precisely that.
Scroll to Top

Stay up to date with news

Stay up to date with news

Sign up for our newsletter and always be up to date with news and technologies from the world of Poslovna inteligencija.

Business & Data Analysis
Planning, OLAP & Reporting & Financial consolidation
Data Integration, Data Migration & Data Engineering
Data Governance, Data Quality & Master Data Management
Data Science
DWH models
XBRL point
ConQ Content Analytics

I acknowledge that the personal data I submit through this contact form will be used by Poslovna inteligencija d.o.o. to contact me and provide information related to my inquiry/application. I consent to Poslovna inteligencija using my submitted personal data to send newsletters containing information about news, products, and services of Poslovna inteligencija. I also acknowledge that I can unsubscribe from receiving newsletters at any time by clicking the 'Unsubscribe' link in each newsletter. Comprehensive information related to my rights and the use of my personal data can be found in Poslovna inteligencija's Privacy Policy.:
Yes No *

Please don't insert text in the box below!

The fields marked with * are required