By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
    benefits of data analytics for financial industry
    Fascinating Changes Data Analytics Brings to Finance
    7 Min Read
    analyzing big data for its quality and value
    Use this Strategic Approach to Maximize Your Data’s Value
    6 Min Read
    data-driven seo for product pages
    6 Tips for Using Data Analytics for Product Page SEO
    11 Min Read
    big data analytics in business
    5 Ways to Utilize Data Analytics to Grow Your Business
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Text Analytics Gurus Debunk 4 Big Data Myths
Share
Notification Show More
Latest News
cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security
DevOps on cloud
Optimizing Cost with DevOps on the Cloud
Cloud Computing Development Exclusive IT
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Uncategorized > Text Analytics Gurus Debunk 4 Big Data Myths
Uncategorized

Text Analytics Gurus Debunk 4 Big Data Myths

TomAnderson
Last updated: 2015/11/16 at 9:33 AM
TomAnderson
3 Min Read
SHARE
- Advertisement -

TextAnalytcsMyths

Four Big Data and Text Analytics Myths Debunked
[Visit Forbes.com for more detailed article]

- Advertisement -

TextAnalytcsMyths

Four Big Data and Text Analytics Myths Debunked
[Visit Forbes.com for more detailed article]

More Read

big data improves

3 Ways Big Data Improves Leadership Within Companies

IT Is Not Analytics. Here’s Why.
Romney Invokes Analytics in Rebuke of Trump
WEF Davos 2016: Top 100 CEO bloggers
In Memoriam: Robin Fray Carey

There are a lot of myths out there surrounding next generation research techniques around data from small to big. Text analytics, if done correctly, can offer insights into problems from a new more encompassing and accurate perspective.

OdinText CEO, Tom H. C. Anderson, and CTO Chris Lehew recently spoke to Forbes Magazine about some of the common analytics and text analytics myths they frequently encounter, and gave real examples of how OdinText users are benefiting from superior insights provided by the Next Generation Text AnalyticsTM platform.

The four data myths covered today in Forbes were:

- Advertisement -

Myth 1: Big Data Survey Scores Reign Supreme

 A myth propagated by Bain Consulting, without any evidence to justify the claims, is that a survey metric asking ‘likeliness to recommend’ is related to business growth. OdinText found absolutely no link between survey metrics like NPS and revenue when analyzing 800,000 customer surveys for Shell Oil/Jiffy Lube.

Actual customer text comments proved to be the single best predictor of real behavior from loyalty/returns to revenue.

 

Myth 2: Bigger Social Media Data Analysis Is Better

- Advertisement -

 textanaltyicsCocaCola

Many believe big data must have value simply because it’s big – but it’s more about smart data than big data. Using OdinText Coca-Cola’s Social Media Hub found that only smarter text analytics and data translate to better insights.

 

Myth 3: New Data Sources Are The Most Valuable

 Many companies go looking for new data on social sites and elsewhere while failing to first look too what valuable data they may already be collecting . Campbell’s Soup for instance realized that they could get better insights by using OdinText to listen to the quarter of a million customers that contact their customer service department each year than relying on anything found on Twitter.

- Advertisement -

 

Myth 4: Keep Your Eye On The Ball By Focusing On How Customers View You

 Sometimes online discussion boards and other consumer generated media is the best place to find insights. But companies often focus just on what is said about them. Starwood hotels among others have realized the benefit of doing comparative analysis VS. their competition, arguably the single best use of this type of data.

 

You can read more detail about the four data myths discussed above in Forbes Magazine article here.

- Advertisement -

Please visit our blog in the coming months as we roll out a new series of “Text Analytics Tips” with experts from OdinText discussing more myths and sharing tips and techniques on how to drive better more actionable insights through smarter Next Generation Text AnalyticsTM

TomAnderson November 16, 2015
Share this Article
Facebook Twitter Pinterest LinkedIn
Share
- Advertisement -

Follow us on Facebook

Latest News

cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

big data improves
Big DataJobsKnowledge ManagementUncategorized

3 Ways Big Data Improves Leadership Within Companies

6 Min Read
Image
Uncategorized

IT Is Not Analytics. Here’s Why.

7 Min Read

Romney Invokes Analytics in Rebuke of Trump

4 Min Read

WEF Davos 2016: Top 100 CEO bloggers

14 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence Chatbots Exclusive
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Analytics Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?