Text Analytics ROI calculator
Things to Consider:
- Number of Texts
- Number of Languages
- Recurrence of Surveys per month / per quarter / per year
1 text, to read manually takes 1 minute and to classify the topics in the text. Or does it?
Let's look at how to analyze a survey with 400 customer responses, with a lot of great information to use to improve your product.
This should take around six hours to classify all the texts. After the classification you will get all the actionable information to start improving your business.
However 400 texts does not take 400 minutes or 6 hours because you will discover new topics in the text and have to go back and re-do the text classifications.
Maybe 20 texts speak about something similar that you simply forget to classify together. So you might have missed some small topics.
The process repeats after next month’s survey responses. Where you run the risk of making manual errors.
Explorer will analyze the results in less than 30 seconds. After classifying the topics, your analysts will get actionable information to start improving your business and then they can refine the analysis immediately.
After receiving next month's survey responses, you apply the template model from last month and get all the new actionable insights immediately.
Discovering Hidden Unknowns - finding out Topics a small percentage of your customers are speaking about that are high impact would require you to analyze all your text data. A huge risk if you are not.
Consistency in tracking Topics over time - after implementing changes, you want to see the impact of your changes.
Speed in analyzing text - opens up new opportunities in looking at historical data, or opening up the survey to a larger audience of customers.