Posted by AdminSep 8, 2015 12:00:00 AM
2 minutes to read
In order to maintain successful operations, you need to be there for your customers when they need you. Trying strategies to accommodate customers on a global scale can be overwhelming, requiring that you sift through mountains of data in multiple languages in an attempt to understand.
Generate Business Results in the Customer Space - Businesses are beginning to see the need to harvest customer data from social media, blogs and mobile devices to gain intelligence on customers’ changing perceptions, needs, and expectations. From there, they can funnel that information into predictive models to gain insights into customer acquisitions, conversion, behaviors and patterns.
Evaluate Customer Impact – Understanding customer behavior, buying patterns, relationships and sentiment can lead to informed product or service introductions, improved branding, and increased revenues.
Assess and Manage Risks – Businesses can use social media, news feed, and sentiment analysis to protect resources, assets and personnel, as well as using that data to assist in determining business opportunities in specific geographic locations.
Develop Regulatory Reporting – Various organizations and industries are finding a growing need to obtain information from unstructured data. Using entity extraction and NLP tools, they can make connections and create improved visualizations of the data they’re referencing.
One example of natural language processing and entity extraction in action can be seen in the financial services industry.
Consider the “Three V’s” for Today’s Financial Institutions
These three factors are things all banks and financial planners must keep in mind when working with Big Data. Other industries often have similar needs.
Velocity: Investment houses need to process more trades at a faster rate than their competition.
Variety: Content and context from unstructured social media data including tweets, status updates, blogs, tags, pins and videos are needed to keep up with evolving customer needs.
Volume: Banking and capital market institutions need to handle large ticket data, asset management firms need to handle market and business data, and insurance firms need to handle policy and claims information on a massive scale.
Contact us today to see how Rosoka’s entity extraction and sentiment analysis tools can streamline your operations and change how your business works with large volumes of data.