Globally, 70% of the data stored is in the unstructured format trapped in call centre logs, insurance claims history, transcripts, social media, blogs, business mails, loan and tender applications, clinical notes, and more. Big Data is everywhere and is changing in volume, velocity, and variety. It is the ability to deal with it that matters. Imagine the confidence of getting the conclusions based on all of the data that is available and not just the numerical data. Big Data Analytics add tremendous support to the analyses already built on the structured data.
Involves analysing a large collection of documents to discover previously unknown information. The information might be relationships or patterns that are buried in the document collection and which would otherwise be extremely difficult, if not impossible, to discover.
Preliminary work includes document clustering and classification, information retrieval, and the enhancement of structured data. Deeper analyses include determining keywords and topics from collection of documents, and uses sophisticated linguistic rules to evaluate the massive text available including techniques such as tokenization, part-of-speech tagging, parsing, and disambiguation.
Improve products, services, and marketing strategies by gaining a factual understanding about what people think about them. Identify the polarity of your brand as positive, negative, or neutral being discussed in social media and forums - online reviews, tweets, forums, blogs, and internal customer data. Build a framework on this data that will effectively incorporate "the voice of the customer" into the design of products and services and to optimize sales and marketing efforts.
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Director, E-commerce company, UK