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Using Unstructured Text Data to Stay Ahead of Market Trends and Quantify Customer Perception
Presented by:Swaroop Johnson, Consultant (Analytics)
July 13, 2016
of data generated is unstructured in nature, and growing exponentially
of business executives complain that they have too much unstructured text data and are unable to interpret them
There are incremental insights to be generated from the text data given willingly by your customers
Our text analytics services cover all phases of the product life cycle, and the customer journey
Imagine being able to predict future trends before it actually happens
And then design a product based on customer feedback, and product reviews
And track each customertouchpoint to identifycustomer queries andevaluate your customerexperience program
To evaluate net sentiment of your customer base with deeper analysis and insights than ever before
Discover a new side of story telling by
discovering hidden insights from unused
sources of data
80%
40%
© 2016 Blueocean Market Intelligence
Enabling incremental insight generation through comprehensive coverage of data sources
New Product Development• Key opinion leader blogs• Feedback/comments• Product reviews
Customer Interaction Analysis• Call centre data• Feedback/comments• Call logs
Digital Research• Technology blogs and forums• Technical papers• Journals and magazines
Customer Experience Management•Microblogging sites/social media data• Feedback/user comments• Product reviews
Brand Monitoring• Customer feedback• Survey Data• Social media/Twitter data
Fraud Detection• Emails•Historical claims documents• Financial statements
Some Practical Applications of Text Analytics
© 2016 Blueocean Market Intelligence 4
Aspect Extraction Text Classification Sentiment Analysis
Summarization Article Extraction Topic Modelling
Our Solutions
T
Customer Experience Management
Time and cost for identification of customer and employee issues will be reduced
Brand Monitoring Help companies to keep a tab of the health of their companies brand image by analyzing trends over a period of time
Digital ResearchReduces time related to topics and document searches by grouping documents
Examples
• Extract interesting and non-trivial patterns or knowledge from unstructured text documents• Identify different aspects /components of a single problem• Overall sentiments for a specific aspect under the business scenario can be extracted• Determine the underlying conditions that give rise to the reasons for the problem/phenomenon
“the restaurant is situated at an excellent location and the food is very delicious. there are fresh barbeques served over the table as starters including vegetables mutton chicken fish and prawns. all too good to enjoy. the main course and desserts are available over the buffet table and the food variety is quite a lot to choose from both between veg and non-veg. well maintained and good seating arrangement ideal for business parties or with friends. the only drawback was that the seats are limited and during rush hours the guests need to wait until they get their turn. however it was a very good eating experience along with work mates.”
Information extraction for deeper analysis of the business problem
Net Sentiment
0.489 (indicates positive sentiment)
Different aspects of the user review
Location Excellent
Food Delicious
Reservation Bad
Experience Good
Service Good
Entities
Variety Excellent
Non veg Good
Main course Bad
Barbeque Fresh*
Desserts Good
© 2016 Blueocean Market Intelligence
Topic Modelling to Understand Customer Perception
Based on the article that we identified we were able to extract insights relevant to the marketing, and competition for XXX’s new YYY range of processors
Topic modelling and article extraction solutions were deployed to create a story that divided the entire 384 comments into 20 topics
These insights can be used to understand what customers are speaking and how they perceive Intel’s new range of processors, as well as evaluate the marketing and branding strategy
Customers have expressed that YYY processors enable power savings
Marketing Insights
Customers feel YYY X86 provides high performance with low power consumption
End users feel YYY processors are worth upgrading to as it a good improvement over previous generations
Oracle’s AAA solves the heartbleed issue
End users consider AAA to be a bit expensive
Customers have rated XXX’s X86 processors as the most efficient out there beating AAA
Competitive Insights
© 2016 Blueocean Market Intelligence
Breaking down consumer reviews to aspects so as to understand purchase drivers, and drivers of positive, and negative sentiments (1 of 3)Client: Technology
Approach
Industry: Technology/Product/Smart Watch
Business Challenge The client, one of the leading chipset manufacturers wanted to understand the fall in
demand for its in-house smart watch product by studying consumer reviews from two most popular online retail channels amazon.com, and bestbuy.com
The partner wanted to identify top purchase drivers, and identify the reasons behind negative sentiments, and the top activities the fitness tracker was used for
Aspect Extraction
• Identifying the key purchase drivers
• Understand drivers of positive, and negative sentiments
• Top use cases of the product were identified
• Time wise trends with drill down abilities to identify reasons for declining trend
Business Impact:
Lexicon Based POS Tagging
Tools used:UTAP, R, Python, KWIQVIS, SQL Server 2014,
14© 2016 Blueocean Market Intelligence
Breaking down consumer reviews to aspects so as to understand purchase drivers, and drivers of positive, and negative sentiments (2 of 3)
Results
Identifying the key purchase drivers
Understand drivers of positive, and negative sentiments
Top use cases of the product were identified
Business Impact:
Wrist Band Painful, Wears, Complaint, Flawed,
Issues, Irritation, Return, Burn
Sync Crashed, Restart, Fiasco, iPhone,
Unstable, Sadly
REM Validity, Quality, Incorrect, Poor
Bluetooth App, Phone, Unpair, Mediocre, Worst
Fitbit Versus, Comparison, Awesome,
Biking
Firmware iPhone, Confusion, Pathetic,
Miserable, Fix, Crappy, Unresponsive
Top Aspects across Star Ratings And Their Associations1 and 2 star rating 3 and 4 star ratings 5 star rating
Battery Life Phenomenal, Fantastic, Charge,
Reliable, Activities, Great
Screen Impressive, Suit, Pretty, Customize,
Perfect
App Phone, iPhone, Mapmyrun, Pair,
Update, Comfortable, Great, Personalized
Heart rate Accuracy, Appreciate, Run, Reliable,
Fantastic, Customizable, Notifications, Swimming
Waterproof Shower, Heart rate, Notification,
Appreciate, Traveling, Reliable, Swimming
Notification Text, Voicemail, Smart, Calendar,
Reminders, Customizable
App Phone, Update, Watch, Interface,
Sync, Good, Annoy, Reconnect
Heart Rate Sleep, Aerobic, Dancing, Positives,
Runners, Comfort, Stylish, Accurate
4% 8% 19% 4% 26% 32% 7%
Highly Negative Negative Slightly Negative Neutral Slightly Positive Positive Highly Positive
Aspect Extraction
15© 2016 Blueocean Market Intelligence
Breaking down consumer reviews to aspects so as to understand purchase drivers, and drivers of positive, and negative sentiments (3 of 3)Output
An interactive dashboard to enable understanding of customer perceptions, enabling the partner to identify drivers of positive, and negative sentiments, based on time wise trends.
Consumer reviews are color coded with star ratings distributions, with drill downs available, for each individual sentiment, and particular aspect
Aspect Extraction
16© 2016 Blueocean Market Intelligence
Introducing
• User friendly, flexible user interface: One touch data pre-processing (removal of junk/stop words/URLs, lemmatization etc...)
• Automated text classification: Query classification for deeper and better understanding of customer queries
• Makes text classification 60% faster than traditional methods
• Preview screens for data extraction, and data cleansing
• Sliders and input boxes for easy definition of parameters and data split
• Pre-defined classification and sampling performed with the click of a button
• Get Accuracy Score, Confusion Matrix Score and Classification Report to be downloaded in .pdf/.doc format
Unstructured Text Analytics Platform (UTAP)
© 2016 Blueocean Market Intelligence
WINNERInnovative Technology of the Year 2016
Big Data and Analytics Awards
Low cost per comment, making it economic for large data volumesEconomic
Ability to handles millions of rows of textual data per dayScalability
Each step of the unstructured text classification process is pre-builtAutomated
Comprehensive coverage of data sources (structured and unstructured)Comprehensive
Value add through innovative platforms
© 2016 Blueocean Market Intelligence
Summary
80% of data generated today is unstructured in nature – CANNOT be ignored any more1
2
3
5
4
Call center data, social media comments/posts, open ended survey data etc. are some of the sources of unstructured data
Incremental insights related to customer perception/trends/sentiments can be extracted by mining unstructured data
Determine the underlying conditions that give rise to the reasons for the sentiment/perception/customer issue
Unstructured Text Analytics Platform (UTAP) make the text classification exercise easier, faster, and efficient
Digital Research help companies stay ahead in identifying upcoming trends6
© 2016 Blueocean Market Intelligence
United States | United Kingdom | India | United Arab Emirates
www.blueoceanmi.com
Thank YouFor more information: Swaroop Johnson
Consultant (Analytics)
Blueocean Market IntelligenceEmail: [email protected] Website: www.blueoceanmi.com
United States| United Kingdom | Dubai | India | Singapore