Text Analytics with Six Sigma
Just posting today briefly to mention a few things. First, on Seth Grimes' new blog, Breakthrough Analysis, he recently asked me a couple of questions about OdinText/Text Analytics and Big Data in general. The title ‘Think Mid Data, and Triangulate' may be a little misleading as I no longer feel triangulation is as important as I did back in 2005. I think some text analytics software and definitely OdinText is reliable enough out of the box so that in most cases triangulation is no longer necessary.
Second, I attended Sentiment Analysis Symposium yesterday, and it's still a great event and continues to evolve as the text analytics market and types of users continues to grow. My favorite presentation was by PayPal which had used relatively basic text analytics (basic i.e. good and reliable) combined with Six Sigma process to produce a powerful and compelling case study which ended up saving the company over $3 Million.
This is exactly the kind of client side work and analysis I've been saying we need more of in text analytics. Many of the tools are good enough, it's the creativity and ‘Just Do It' attitude we need more of. I received my Six Sigma Black Belt training about ten years ago, and while Six Sigma seems to have fallen out of favor at companies for various reasons, I was very impressed to see it linked with Text Analytics in this way.
[Full Disclosure: Tom H. C. Anderson is Managing Partner of Anderson Analytics which develops and sells patent pending data mining and text analytics software platform OdinText]