Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Text Analytics Gurus Debunk 4 Big Data Myths
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
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
TomAnderson
3 Min Read
SHARE

TextAnalytcsMyths

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

TextAnalytcsMyths

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

More Read

So you think you can run a search conference…
Virtual Workforce, A Growing Part of the New Normal?
Reflecting on Times Open
Who Uses Social Networks Anyway: Part I
Reflecting Istanbul

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:

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

 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.

 

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.

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

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing
AI Document Verification for Legal Firms: Importance & Top Tools
AI Document Verification for Legal Firms: Importance & Top Tools
Artificial Intelligence Exclusive
AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Early Indications April 2009: Reexamining Offshoring

9 Min Read

When Your Staff Turns Against You with Social Media

3 Min Read

Has Online Advertising Lost Its Schwerpunkt?

2 Min Read

The Role of the Project Manager on a Failing IT Project

4 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 chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
ai chatbot
The Art of Conversation: Enhancing Chatbots with Advanced AI Prompts
Chatbots

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?