Buyer Beware: What Text Analytics Providers Won’t Tell You.
Text Analytics May Not Be For You
If you’re in market research and aren’t at least exploring text analysis software, you’re part of a shrinking minority. But you probably know this already, if only from the preponderance of conference presentations, blogs and trade articles on the topic. Yes, text analytics are all the rage these days.
You may feel under the gun to catch up, but if you’re late to the game, you may be comforted to know that for many people, text analytics aren’t living up to the hype.
Nearly every researcher I come in contact with at conferences and through my professional network is at least actively investigating text analysis if they haven’t already adopted a solution. And in either case, they’re frequently underwhelmed.
It’s my experience that there are two primary reasons for this:
- Despite the hype, text analytics are NOT for everyone
- Researchers too often buy technology when what they need is an insights solution
How Do I Know Before I Buy?
You heard me. Not everyone needs text analytics. And that’s because not all data merit or are even suited to text analysis, nor is every business question.
I see researchers buying buzzwords like “sentiment” or “artificial intelligence,” when what they need is to understand what drives customer satisfaction, what drives loyalty, what drives behavior or revenue…
The first things you should ask are: 1. Do I need text analytics to answer my business questions? and 2. Do I have the right data for it?
Most text analytics software providers will give you a resounding “Yes!” to both questions. (Shocking, I know.)
Then they’ll set up a dog-and-pony demo, possibly using data similar to yours, but it isn’t your data.
What they won’t do is take the time to honestly determine whether or not what they’re trying to sell you makes sense for you.
And they won’t confirm it by running your actual data before you buy.
Do a Demo with Your Own Data Before the Year is Out!
It’s Q4, which means that from now until the end the year, my colleagues and I are going to get a lot of calls from researchers who need to spend what’s left of their budgets and who are convinced that they need a text analysis tool.
But before we even discuss an OdinText demo, we will take the time to figure out for certain whether they actually need us.
And if it looks like a fit, we’ll arrange a demo using their actual data to be sure.
Whether you haven’t yet found a text analytics solution that works for you or you just feel pressured to adopt a tool before the year is out, I am telling you that text analytics may not be the right answer for you.
Find out for sure. Before you close the books on 2016, call us to arrange a phone consultation and take an OdinText demo with YOUR OWN DATA!
We won’t sell you what you don’t need.
Tom H. C. Anderson
888.891.3115 x 701