- Web analytics
- Internal reports
- Customer service requests
- Chatbot Messages
- Call Center/Sales/Focus Group Notes
- Employee Reviews
Any textual document that a company has can be utilized. Unfortunately, it rarely is. This in-depth analyse can add a layer of expertise to any organization. In the following section, we will outline some of the core benefits that can be derived from such data.
Benefits of Internal Data
Difficulties in Analyzing Internal Data
It’s easy to say that a company can derive a lot of value from their internal data, but one can not talk about the benefits without mentioning the difficulties. For this, it’s important to recall the four V’s of big data: value, variety, volume, and velocity. They say that in the knowledge economy, information is our most valuable commodity. But in a company, information is often coming in excessive amounts, from every direction, and at an intense speed. I challenge you today to consider where all the data is coming from in the company you work for. Whether a small business or a large corporation, chances are you have a lot of it, and chances are that you don’t utilize a lot of it. The vast amount and unceasing accumulation of different types of consumer data are often neglected or a nightmare to analyze for businesses.
As you can see, there are a lot of obstacles preventing companies from analyzing their data with ease. This is why so little companies do it. Luckily with the advent of technology, these barriers are getting squashed and a data revolution is underway. First, we had the gold rush, then the oil rush, and now it’s the data rush.
Only analyzing public data is a trap for most large companies. At Semeon, we use the latest technology in Natural Language Processing and Machine Learning to understand data for companies. Although we can understand and create insights from most data companies possess, we focus on deciphering internal data from surveys, emails, chatbot messages, web analytics, and any kind of notes whether they be from sales, the call centre or focus groups. We realized years ago that for many brands nowadays, the sheer amount and complexity of data is proving to be an obstacle. This is unfortunate when you consider all the benefits that come from utilizing and leveraging it.
So what does this mean? This means that there is technology that is allowing companies to get the same insights out of their data instantaneously without needing to dedicate entire teams and countless hours to the task. If you enjoyed this article and have been thinking about ways to derive the highest value from your internal data, think no further. The people over at Semeon would love to provide you with a free consultation on the best practices companies are using nowadays. Contact Semeon Analytics today to learn how you can implement AI into your marketing strategy today!