The whole commerce landscape has undergone a paradigm shift with the increasing presence of customer reviews and social media in the decision-making process. The current generation of shoppers is highly internet savvy, prefers to shop online, and remains constantly updated about the products and reviews on social media and other forums.
While studying the qualitative data deeply, we have noticed that customers tend to write reviews mostly when they are dissatisfied. These reviews offer a goldmine of information to dig deep and identify the reasons why customers move to competitor brands. Text Mining is a newly emerging domain with a tremendous potential to impact business margins.
The Nabler Edge
Nabler realizes the potential of text mining and has developed a robust process to give actionable business insights through various analytics techniques:
- Domain Specific Dictionaries: Unlike most tools available in the market we define domain specific dictionaries and the related negative, positive, and neutral elements. Currently available tools tend to bucket most sentiments as neutral, thereby dampening the underlying information.
- Text Mining Models: We use advanced probabilistic models like Naïve Bayes or K Nearest Neighbors to identify the best models with greatest accuracy, and smartly categorize your comments with the latest algorithms.
- Efficient Process: The process is highly efficient not only in terms of quality of output but also time, because the model building is a one-time process if the domain is brand new. In most cases our models have been automated so that from the next instance itself the output can be obtained in the least amount of time. Further, these models are self-improving and the results get better as more and more new data is fed in.
What you get?
Utilizing tested methods, proven approaches, and the science of statistics, Nabler helps you dig deep into the minds of your customers by integrating various sources, understanding their likes and dislikes, quantifying brand sentiments, evaluating vendors, improving product quality, planning changes in new launches, and so on – the advantages are endless. When most companies are still figuring out the need; with Nabler you can quickly attack the problem, and hit the nail on the head with a smart approach to stay ahead of your competitors.