Text analytics in market research – gaining an innovative advantage
Tom H.C. AndersonAnderson Analytics, LLC, United States/Sweden
Text, whether obtained through writing or transcribed from speech, is the primary method to record our thoughts, emotions, opinions, and beliefs. Currently over 80% of all information is stored as text. Market research professionals collect consumer attitudes and reactions through language, mainly via primary research such as self-reported surveys, focus group discussions, or one-on-one interviews. These techniques were a valuable and necessary way to help structure text feedback in order to quickly identify patterns and produce actionable analysis.
However, several other...