Text Analytics: The Next Frontier in Enterprise Content

Management

Fern Halper Hurwitz & Associates

June 5, 2009

Outline

  What is Text Analytics?   Why and how are companies using the technology?   Use cases for text analytics and ECM   Value of the technology   Impact of the recession   Q&A

Unstructured data is everywhere

Unstructured •  Documents •  Contracts •  Call Center Notes •  Claims •  Emails •  Blogs/Message Board/Twitter •  Image/Video •  Etc. Etc.

Structured •  Revenue •  Dates •  Product Codes •  Customer id •  Etc. Etc.

Characteristics •  No identifiable structure •  Content Management Systems •  Enterprise and Cloud •  GROWING!

Characteristics •  Identifiable structure •  Databases, other data stores •  GROWING!

What is Text Analytics?

The automated process of analyzing unstructured text, extracting relevant information, and transforming that information into structured

information that can then be leveraged in different ways

Customer wants to know if we have a calling plan like FamilyOne from LocalTel. It is cheaper.

Customer wants to know if we have a family plan. She says this would save her money. Explained GlobalTel

doesn’t yet have this type of plan.

Customer wants to understand feature bundles . Customer says LocalTel is having a great promotion on

unlimited plan with different features.

Three studies performed by Hurwitz & Associates   2007 – Text Analytics: The road to understanding your

company’s unstructured data   118 companies , U.S. based, revenue > $200M   Respondents divided into three groups

  Those that had no plans to deploy text analytics (n=39)   Those that were planning to deploy text analytics (n=49)   Those that had already deployed Text Analytics (n=30)

  2008 – Four questions about innovations in analysis– Fast Poll   61 companies   very technology savvy

  2009 – How is Text Analytics Being Affected by the Economy? – Fast Poll   50 companies   very technology savvy

Text Analytics: The Data

Business Drivers

Hot Application Areas

Many other niche applications, too

Sample Use Cases

  Voice of the Customer   Cull through content to determine what customers are

saying about products/services/competitors   Improving retention/Understanding the market

  New Product Design/Development   Cull through customer comments to understand potential

new features   Use literature, patents to understand functionality, what

competitors are doing, etc.   Fraud Detection

  Cull through insurance claim information to spot trends   Train system to automate identification of potential fraud

How are Companies planning to Implement Text Analytics?

Value of Technology

The value is clear

Impact of Recession

Possibly being affected less than other technologies

Questions?