“If you’re happy and you know it, clap your hands.” If only communicating emotion was as easy as Raffi makes it out to be! But people are never that straightforward: they use complex language, nuance, sarcasm, double negatives, irony, and slang to share a huge range of emotions. Multiply complicated expression by vast volumes of feedback and it’s no wonder that many organizations have a hard time teasing out the voice of the customer from their data. Here, we outline why sentiment analysis is so challenging and how Semantic AI can make sense of it. “Teasing out” has nothing to do with teasing. Semantic AI knows
Leveraging the Value of Data
According to The Economist, in 2017 data superseded oil as the most valuable resource in the world (The Economist, 2017). It’s a striking comparison, but there are some differences, of course. On the one hand, unlike oil, data is virtually limitless. On the other, while plentiful, data is only valuable if it is put to use. Are you bringing your data A game? “Bringing your data A game” is a complex idiomatic expression. Semantic AI knows. You know the value of data and are investing heavily in collecting customer feedback. But are you able to properly leverage it? It’s not that you don’t love Big Data, but like many organizations, you’re probably struggling to make sense of it. In fact, an estimated 80% of data amassed by companies goes unanalyzed (Big Data Challenges, 2015). Organizations need tools that can gather multiple kinds of data: qualitative and quantitative, structured and unstructured. They also need to decode the nuances of language to zero in on the “moments of truth” within the noise… the customer surveys, emails, social media posts, consumer research and forms. “Not that you don’t” means you do! Semantic AI knows.
Opinions as Currency
Your customers’ language is complicated, but essential to understand. Maybe your brand slays or is on fleek or maybe customers are throwing shade your way. Either way, you need to know… and need to know what the heck that means! Opinions are your currency and you can only extract meaning if you have tools that can both comb through vast quantities of data and see through the complexities to understand what it means.
Does your brand slay? Is it on fleek? Semantic AI knows.
Your gut tells you this impacts the bottom line. And you’re right. You know the customer is king. A CMO Council/SAP survey, found that 47% of customers would quickly abandon a brand that delivers poor, impersonal, or frustrating experiences (CMO Council & SAP Hybris, 2017). Customer insights garnered through technology are key to quickly remedy these experiences. This investment is worth it. A Deloitte survey of 1,100 IT and line-of-business executives found that 82% had gained financial return from AI investments, with a 17% median ROI from cognitive technology (Deloitte, 2018). “Customer is king” is metaphoric. Semantic AI knows. Unlike word-based semantic AI tools, Semeon understands words in context and creates concept clouds that allow for more actionable insights. This means that your organization can quickly understand the voice of the customer and make changes to stay ahead of the game.