Atul Tuli, Sales Director, Oracle Social Cloud CRM solutions, talks to KTP Radhika about how organizations can make benefits out of text analytics solutions
How will text mining/analytics help an organization to derive potential value in business ?
With text analytics, organizations can track and analyze a customer mood or opinion. For example, a telecom vendor will be interested to know about what people are talking about their new plan, or whether their existing customers are happy in their existing solutions etc. They will also want to know how to classify their customers, how to get into their deeper excitements and so on.
Text analysis helps in all these situations. It can give accurate numbers for marketers. By analyzing social media sentiments, marketers can classify sentiments to cold or warm and can have deeper insights. They can further categorize it into different business functions. It can analyze the language you are using in social media, what people are tweeting about and so on.
Describe about Oracle’s offering in this space?
We have a product called social engagement and monitoring(SEM) It will capture relevant brand conversations from global web and social channels, cut through the noise to track key topics, trends, and influencers and understand what people are saying about your products and brands.
It can also identify positive, negative, and neutral posts with automated sentiment scoring, act on customer intent and interest such as intent to purchase or need for service or assistance, respond in-context, with the highest efficiency, across social media channels.
SEM leverages semantic analysis to reduce noise and automatically extract the themes from the customers’ conversations. It also will identifies customer intentions and interests by analyzing common ways customer segments talk and provides dashboard analytics for deep insight into social conversations.
Text analytics technology is still considered to be an emerging technology. How are Indian companies adopting it?
Earlier if an organization wants to run a campaign, it used to take a month or so to know the benefits and drawbacks of that campaign. But with sentimental analytics, you will get real time out puts. Many of the organizations want to hear what their customers are talking in real time.
Globally, the adoption is much more in a fast pace. Adoption of social sentimental analysis tools are happening across verticals. However, recently Indian companies also have started adopting it. Many of the e-commerce websites, portals etc are really using the social tools. We are working with many segments like financial institutions, retail houses etc and we can foresee a big growth opportunity in this space.
