Text analytics is a tool that can help to maximize the value of open-ended feedback. Text analytics has three key advantages.
It is scalable: text analytics is a method of handling large, unstructured data sources. It turns data that was previously unmanageable into something scalable and easily disseminated to large groups of managers, stakeholders, executives, etc.
It is flexible: It can handle almost any textual data source, but typically includes survey comments, Facebook posts, Tweets, blogs, reviews… Essentially, if you can pull the qualitative data, it can be analyzed.
It is insightful: text analytics has the potential to be extremely insightful and actionable. It helps us to manage large data sets, while at the same time guiding us on what’s most interesting or important in the data. We can rather quickly identify various themes or topics appearing in customer feedback, as well as determine how the customers feel about those topics.