Unlike the communication that companies do with classic media and for which it is difficult to assess the reactions of the public, on the web the traces of people's opinions remain; text analysis (or text analytics) of online conversations is currently the most requested digital research service in the world.
What is online conversation analysis?
Text analysis is the automated process of translating large volumes of text into quantitative data to uncover insights, trends and patterns. Combined with data visualisation tools, this technique allows companies to:
- understand consumers' emotions and feelings towards a brand or product;
- outline market trends and consumer needs;
Text analysis stands out from more traditional research methodologies in terms of both reliability and usefulness. In fact, it operates on a large amount of web content (every minute Internet users post 456.000 new tweets, 510.000 new comments on Facebook and send 156 million emails) and eliminates many methodological risks linked to the limitations of traditional research (e.g. interviews, questionnaires, focus groups).
With text analytics, companies are able to extract meaning from all kinds of unstructured data, from social media posts and emails to live chats and surveys, and turn it into quantitative information. By identifying trends and patterns with text analytics, companies can improve customer satisfaction; by learning what customers like and dislike, they can detect product problems and monitor brand reputation (source: MonkeyLearn).
Text analysis is currently the most desired research tool in the market. Of the total number of companies that purchased market research in 2019, 50% requested market insights based on text analysis of web content. Of the remaining half of companies, 31% admitted to purchasing market research conducted using text analysis (source: Statista).
PXR Italy is an expert in the field of text analytics
As a research institute, PXR Italy uses text analysis tools to find out how people feel about a brand on social media (sentiment analysis), or understand the main topics in product reviews (topic detection). PXR Italy on the other hand, leverages the results of textual analysis to identify patterns, peaks of negative feedback from consumers, and provides actionable insights for improvements.
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