Text Analytics The three-minute guide

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What is text analytics?

Detecting hidden signals Theres a good chance that your organization is awash in unstructured, text-rich dataeverything from emails to customer tweets. The information buried in all that text holds the potential to deliver valuable business insights. Text analytics is the practice of using technology to gather, store and mine textual information for hidden signals that can be used to inform smarter business decisions.

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Why it matters now

An explosion of unstructured data Many types of organizations are experiencing explosive growth in their unstructured enterprise dataat the same time that they have unprecedented access to external sources of data such as social media, blogs, and mobile transaction data. Until now, much of this information passed through the organization virtually unanalyzed. But today, new tools for handling large amounts of this complex data make it easier to squeeze value from such unlikely sources.

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Why text analytics?

Insights greater than the sum of their parts For the rst time, deep language processing capabilities such as sentiment analysis, summarization, and faceted search are becoming mainstream. And theyre being helped along by a user-friendly approach that makes them accessible to a broader range of business users. These user-friendly tools make it easier to process social data, semistructured data, and unstructured data together to nd hidden patterns, trends, and anomalies.

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Text analytics can show how people are feeling

Brand X
75 Net Sentiment 50 25 0 -25
Aug 11 Sept 11 Oct 11 Nov 11 Dec 11 Jan 12 Net Sentiment Feb 12 Positive Mar 12 Negative Apr 12 May 12 Jun 12 Jul 12

...whether they like your brand

Mentions by Source
75 50 25 0 -25

Total Mentions

Positve

Neutral

Positives & Negatives

29,108

9,742
Negative

10,957

8,409
4,000

50 Net Sentiment 25 0 -25 -50

Aug 11 Sept 11 Oct 11 Nov 11 Dec 11

Brand Y

50 25 0 -25

Positives & Negatives

3,500

3,000

2,500

Jan 12 Net Sentiment

Feb 12 Positive

Mar 12 Negative

Apr 12

May 12

Jun 12

Jul 12

-50

2,000

1,500

1,000

500

Jan 1 Source
Total Twitter Facebook YouTube GlassDoor Mentions 29,108 22,219 6,851 33 5

Jan 16

Jan 31

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topics most frequently mentioned in your data

and who, what and where is being talked about.

dependency

requests
satisfactory

health reform

customer concerns
prices

prescription drugs

insurance availability education preexisting conditions disease quality TV symptoms commercials

website

Drugs Customer Concerns Customer Satisfaction Website Research and Development Marketing Requests Health Issues Communications Care Plans

customer products satisfaction

services

Internet

new products

health issues
quality of life preventative care

marketing
advertisements radio

family history

research and development

ndings

insurance telephone

prescription legal

drugs
drugs

over-the-counter

care plans

communications
mail email

supplement

herbs illegal

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The benets

Simplicity Unstructured data is notoriously complex. Text analytics makes it easy to lter, search and cross-reference this data within a single, unied view. Enterprise-wide analytics Unstructured textual data doesnt tend to respect organizational boundaries. Crack the code on this cross-enterprise data and you can create a foundation for enterprise-wide analytics along the way. Boost other analytics efforts Analytics that relies on structured data can often benet from an injection of unstructured data like that produced by text analytics. Combine the two to boost the overall effectiveness of your analytics initiatives.

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What to do now

Go where the data is Theres a good chance your organization is sitting on a mountain of unstructured (and unused) data. Dont worry about nding sources of data to feed the analytics machineinstead, start with existing document or knowledge management systems, or even your organizational email. Ask pointed questions There are plenty of hidden signals in your unstructured data that could have a big impact on your businessif you know how to identify them. Asking the right questions can make all the difference. The more focused and specic, the better. Target quick wins Gain momentum by focusing on a series of small, achievable text analytics projects that can lay the foundation for bigger initiatives down the road.

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Times up

What a difference a few months can make When it comes to text analytics, you probably already have most of the components you need to start generating insights. Its just a matter of putting them together in the right way. While every organization is different, many have reported seeing results within just a few months of getting started. To learn more about how to get your text analytics initiative off to a smart startand start using all that unstructured data, please contact: David Steier Director Deloitte Consulting LLP dsteier@deloitte.com Ali Hadjarian Senior Manager Deloitte Financial Advisory Services LLP ahadjarian@deloitte.com Cindi Thompson Specialist Leader Deloitte Consulting LLP cinthompson@deloitte.com Jianping Zhang Senior Manager Deloitte Financial Advisory Services LLP jianpzhang@deloitte.com

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This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, nancial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualied professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. As used in this document, Deloitte means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. Copyright 2013 Deloitte Development LLC. All rights reserved.