Text Analytics Beginner s Guide. Extracting Meaning from Unstructured Data

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1 Text Analytics Beginner s Guide Extracting Meaning from Unstructured Data

2 Contents Text Analytics 3 Use Cases 7 Terms 9 Trends 14 Scenario 15 Resources Angoss Software Corporation. All rights reserved.

3 Text Analytics Successful companies today both listen to and understand what customers are saying and are taking action in response to customer feedback by incorporating the voice of the customer (VOC) into business strategies for sales, marketing and customer service using text analytics. Powerful trends in social media, e-discovery, customer services (call center transcriptions of voice calls, customer complaint s and instant messaging) and customer-centric business strategies are driving IT leaders to consider text analytics as a powerful business tool. The transformed information from text analytics can be combined with structured data (e.g., sales and demographic data) and analyzed using various business intelligence or predictive and automated discovery techniques. 3

4 Text Analytics What is Text Analytics? Text analytics describes a set of linguistic, statistical and machine learning techniques that model and structure the information content of textual sources for business intelligence, exploratory data analysis, research or investigation. Text analytics is the process of analyzing unstructured text, extracting relevant information, and transforming it into structured information that can be leveraged in various ways. 4

5 Text Analytics Structured Data Today, 80% of business information originates in unstructured data; primarily text with no identifiable structure....although structured data continues to be the primary source for business intelligence. 5

6 Text Analytics Unstructured Data INTERNAL EXTERNAL s Customer Surveys Documents Call Center Notes Claims Records Customer Forms Customer Letters Blogs Social Media Tweets Online Forums Articles / Reports Web 6

7 Use Cases Text Analytics transforms unstructured data into structured data for analysis to help... Monitor and analyze brand reputation Determine purchase behavior Identify product issues Summarize surveys, customer reviews Improve customer service and customer experience management Understand customer feedback Improve customer retention Predict and reduce churn Identify and reduce claims fraud Develop cross-sell, upsell strategies Design next best offer strategies 7

8 Use Cases Marketing Business Industry-Specific Voice of customer Social media analysis Churn analysis Market research Survey analysis Competitive intelligence Document categorization Human resources Records retention Risk analysis Website navigation News feeds analysis Fraud detection E-discovery Warranty analysis Medical research 8

9 Terms Or given a collection of text, text analytics tells you who, where, when, what, and how so that you can figure out why. 1. Entity: Who, where, when is being discussed? 2. Theme: What are the important words? 3. Classification: What are the important concepts? 4. Sentiment : How is the conversation going? Is it positive or negative? 9

10 Terms Entity Who, where, when is being discussed? Yahoo wants to make its Web service a place you never want to or more importantly have to leave to get your social fix. The company on Wednesday is releasing an overhauled version of its Yahoo Mail Beta client that it says is twice as fast as the previous version, while managing to tack on new features like an integrated Twitter client, rich media previews and a more full-featured instant messaging client. Yahoo says this speed boost should be especially noticeable to users outside the U.S. with latency issues, due mostly to the new version making use of the company's cloud computing technology. This means that if you're on a spotty connection, the app can adjust its behavior to keep pages from timing out, or becoming unresponsive. Besides the speed and performance increase, which Yahoo says were the top users requests, the company has added a very robust Twitter client, which joins the existing social-sharing tools for Facebook and Yahoo. Entity Yahoo Twitter Facebook U.S. Type Company Company Company Place 10

11 Terms Theme What are the important words being used? Yahoo wants to make its Web service a place you never want to or more importantly have to leave to get your social fix. The company on Wednesday is releasing an overhauled version of its Yahoo Mail Beta client that it says is twice as fast as the previous version, while managing to tack on new features like an integrated Twitter client, rich media previews and a more full-featured instant messaging client. Yahoo says this speed boost should be especially noticeable to users outside the U.S. with latency issues, due mostly to the new version making use of the company's cloud computing technology. This means that if you're on a spotty connection, the app can adjust its behavior to keep pages from timing out, or becoming unresponsive. Besides the speed and performance increase, which Yahoo says were the top users requests, the company has added a very robust Twitter client, which joins the existing social-sharing tools for Facebook and Yahoo. Theme Cloud computing technology Score service Top users requests

12 Terms Classification/Concepts What are the important, high-level concepts? Yahoo wants to make its Web service a place you never want to or more importantly have to leave to get your social fix. The company on Wednesday is releasing an overhauled version of its Yahoo Mail Beta client that it says is twice as fast as the previous version, while managing to tack on new features like an integrated Twitter client, rich media previews and a more full-featured instant messaging client. Yahoo says this speed boost should be especially noticeable to users outside the U.S. with latency issues, due mostly to the new version making use of the company's cloud computing technology. This means that if you're on a spotty connection, the app can adjust its behavior to keep pages from timing out, or becoming unresponsive. Besides the speed and performance increase, which Yahoo says were the top users requests, the company has added a very robust Twitter client, which joins the existing social-sharing tools for Facebook and Yahoo. Concept Software and Internet Score.56 Social Media.60 Technology.49 Business.72 12

13 Terms Sentiment How is the conversation going? Positive or negative? Yahoo wants to make its Web service a place you never want to or more importantly have to leave to get your social fix. The company on Wednesday is releasing an overhauled version of its Yahoo Mail Beta client that it says is twice as fast as the previous version, while managing to tack on new features like an integrated Twitter client, rich media previews and a more full-featured instant messaging client. Yahoo says this speed boost should be especially noticeable to users outside the U.S. with latency issues, due mostly to the new version making use of the company's cloud computing technology. This means that if you're on a spotty connection, the app can adjust its behavior to keep pages from timing out, or becoming unresponsive. Besides the speed and performance increase, which Yahoo says were the top users requests, the company has added a very robust Twitter client, which joins the existing social-sharing tools for Facebook and Yahoo. Entity Sentiment Yahoo.534 Twitter.48 Facebook.534 Concept Sentiment Software and Internet 0.0 Social Media.48 Technology.49 Theme Cloud computing technology Sentiment 1.3 Mail service.16 Top user requests.83 13

14 Trends 1. Social media analytics adoption drives text analytics. 2. Analytics moves beyond sentiment analysis. 3. The market begins to get the connection between text and Big Data. 4. Marrying structured and unstructured data becomes more popular. 5. The cloud becomes more popular for text analytics. Text Analytics Victory Index Report, January,

15 Scenario Book Reviews: Customer Feedback An online book retailer tracks customer feedback by analyzing reviews and comments from online forums and social media. They use Angoss KnowledgeREADER to extract meaning from the text to discover what is being discussed and how the sentiment (positive or negative), and answer: What are customers saying on a regional basis? How frequently do certain entities, themes and topics occur? Which themes and topics occur together, and are related? How is sentiment trending over time? What is the context of what is being discussed at the document level? 15

16 Scenario Sentiment Dashboard Sentiment breakdown across all reviews Sentiment distribution across all documents Sentiment distribution for Top 10 topics, themes and entities 16

17 Scenario Comparison Analysis The retailer can compare overall sentiment across stores, or isolate individual topics, themes, entities and phrases to determine how those items are discussed between various regions For example, you can see that the topic Technology is viewed more negatively in Store 2, but it is also discussed more frequently as well. 17

18 Scenario Trend Analysis By isolating topics, themes, entities or phrases, the retailer can examine how frequently they were mentioned. They can also view how customer sentiment regarding these terms changed alongside the frequency of their occurrence. 18

19 Scenario Association Discovery Using the Association Map, the retailer can visually determine the frequency with which certain terms occur, and how closely they relate to other terms used in customer reviews. The retailer can quickly assess how well certain subjects are received, and how much relative interest their customers have in those subjects. 19

20 Scenario Document Summary Individual terms can be isolated, as well as the sentences and documents that reference them giving you a detailed look at the context used in reviews. Each text record can be completely isolated for a full examination of the content and sentiment contained within. 20

21 Scenario Decision Tree Price High 26, % Low 161, % Total 188, % rank_1_topic null Automotive Hotels Video Games Weather High 8, % Low 70, % Total 79, % Advertising Aviation Education Investing Law Religion High 5, % Low 27, % Total 33, % Agriculture Art Biotechnology Crime Disasters Food Politics Space Sports High 3, % Low 19, % Banking Beverages Marriage Real Estate Renewable Energy Robotics Travel High 1, % Low 11, % Total 12, % Business Economics Mobile Devices High 1, % Low 7, % Total 9, % Elections Fashion Intellectual Property Labor Popular Culture High % Low 4, % Total 5, % Environment Social Media High % Low 1, % Total 2, % Hardware High % Low % Total % Health Traditional Energy High % Low 6, % Total 7, % Science Technology War High 3, % Low 10, % Total 14, % Software and Internet High % Low 1, % Total 1, % Total 22, % KnowledgeREADER can be used to analyze the output of your text analysis with structured data, and use data mining and predictive analytics techniques to expand customer insights. In this example, the retailer has created a Decision Tree that allows them to determine the price breakdown across book genres. The Decision Tree uses High and Low price brackets to segment genres. The retailer can now determine if there is a correlation between price, genre and overall sentiment. They may use these insights to inform product inventory or pricing decisions. 21

22 Scenario Strategy Tree Price High 5, % null Low 43, % Beverages Total 48, % Hotels Avg Rating 5.00 Real Estate Avg Sale Price $13.45 Video Games Avg Sentiment 0.34 Weather Most Common Phrase wonderful Treatment BOGO Price KnowledgeREADER can be used to build and deploy predictive strategies with Strategy Trees. High 1, % Total 188, % Avg Rating 4.20 Avg Sale Price $15.05 Avg Sentiment 0.22 Most Common Phrase great word_count Total % Avg Rating 4.65 Avg Sale Price $13.24 null null Avg Sentiment Most Common Phrase null Treatment Ignore Total 188, % Avg Rating 4.20 Avg Sale Price $15.05 [1,5644] rating Avg Sentiment 0.22 Most Common Phrase great Total 75, % Avg Rating 3.01 Avg Sale Price $14.71 [1,4] Avg Sentiment 0.12 Most Common Phrase great Treatment Ignore Price High 16, % Low 96, % Total 112, % 5 rank_1_topic Avg Rating 5.00 Avg Sale Price $15.27 Avg Sentiment 0.30 Most Common Phrase wonderful Low 4, % Advertising Total 5, % Aviation Avg Rating 5.00 Business Avg Sale Price $18.65 Economics Avg Sentiment 0.30 Most Common Phrase great Treatment New Hot Reads Price Agriculture High 1, % Art Low 11, % Crime Total 12, % Disasters Avg Rating 5.00 Health Avg Sale Price $15.32 Space Avg Sentiment 0.24 Sports Most Common Phrase wonderful Traditional Energy Treatment Buy 3 Get 4th Free Price High % Automotive Low 5, % Banking Total 6, % Marriage Avg Rating 5.00 Renewable Energy Avg Sale Price $12.40 Robotics Avg Sentiment 0.26 Travel Most Common Phrase wonderful Treatment BOGO Price High 1, % Low 6, % Biotechnology Elections Total 8, % Science Avg Rating 5.00 Technology Avg Sale Price $17.98 War Avg Sentiment 0.23 Most Common Phrase wonderful Treatment 25% Off Coupon Price High 3, % Education Low 16, % Intellectual Property Total 20, % Labor Avg Rating 5.00 Law Avg Sale Price $17.05 Religion Avg Sentiment 0.27 Most Common Phrase wonderful Treatment New Hot Reads Price High % Here, the retailer has identified segments based on price and genre. In addition, they can track key metrics that drive store performance. Combined with the text analysis output, this measures the average sentiment, rating, sale price and the most common themes discussed in each segment. By associating a treatment with each segment, the retailer can automatically assign specific actions or activities to each segment. Low 1, % Total 1, % Environment Avg Rating 5.00 Hardware Avg Sale Price $20.97 Avg Sentiment 0.24 Most Common Phrase wonderful Treatment 25% Off Coupon Price High 1, % Fashion Low 6, % Food Total 8, % Investing Avg Rating 5.00 Mobile Devices Avg Sale Price $16.66 Politics Avg Sentiment 0.29 Popular Culture Most Common Phrase wonderful Now, the book retailer can quickly turn insight into action. Treatment New Hot Reads Price High % Low % Social Media Software and Internet Total % Avg Rating 5.00 Avg Sale Price $25.10 Avg Sentiment 0.34 Most Common Phrase great Treatment 25% Off Coupon 22

23 Scenario Angoss KnowledgeREADER KnowledgeREADER is an industry-first software application that brings a new age of integrated customer intelligence by combining visual text discovery and sentiment analysis with the power of predictive analytics. Now, customer intelligence professionals and marketers can easily understand and model customer feedback without relying on data analysts. KnowledgeREADER delivers unparalled customer intelligence and voice of the customer insights to support customer experience management above and beyond what text analytics users have come to expect. Learn more about KnowledgeREADER 23

24 Resources Video Quick Tour of KnowledgeREADER Articles Voice of the Customer, How to Move Beyond Listening to Action Text Analytics Categorization and Concept Topics Text Analytics Phrase and Theme Extraction Text Analytics Sentiment Extraction Text Analytics Named Entity Extraction Brochure KnowledgeREADER Web KnowledgeREADER 24

25 About Angoss Angoss Software Corporation is a global leader in delivering business intelligence software and predictive analytics to businesses looking to improve performance across sales, marketing and risk. With a suite of desktop, client-server and big data software products and Cloud solutions, Angoss delivers powerful approaches to turn information into actionable business decisions and competitive advantage. Angoss software products and solutions are user-friendly and agile, making predictive analytics accessible and easy to use. For more information visit Angoss Software Corporation. All rights reserved.

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