Information has always been a lifeline. The info that you have could open or close doors. It could build or destroy. In qualitative research, everything that one knows could be tomorrow’s next indispensable product, new trend, or service.
Nowadays, the speed of how people connect with each other influences how quickly trends or fads change. How on earth would companies ever keep up? For some companies who conduct their market research on their own, keeping a database seems to be the primary solution to the need of compiling and studying data. Most companies use on-hand database management tools and require the interpretation of researchers to sum up and come up with answers to the most recent queries.
This is where Big Data comes in handy. Text analytics is a method that identifies similar keywords or phrases, puts them together for certain queries made for different purposes. Text analytics downloads all the ‘pages’ it needs to search through. It’s not just any single search but gigabytes to terabytes of information.
Sentiment Analysis is a part of the big data text analytics that digs deeper into the data gathered by reaching out to what makes potential markets tick. This aims to not only determine the subjective aspect of an author but also of its readers.
Big Data Gives:
- Accuracy of Data – loads and loads of information that are related are found in shorter time than any traditional method of gathering then searching through data. In the global industries today, everyone is racing to be able to supply for new demands first, or find needs that need better solutions, too. Nobody wants old news.
- More – Big data gives more information. Much more. Data gathered can be focused in one locale or spread out overseas due to the mobility of everyone’s information. It makes ‘knowing’ much easier to achieve.
It might sound simple and it is, but the impact this has in the corporate world is phenomenal. Companies with this platform can have the upper hand against its competitors with proper use. Combining the information gathered by this tool, and the ingenuity of putting it to good use definitely adds to the appeal of big data analytics. Text analytics has already changed the league in catching fraudulent activities, sentiments of movie reviews, medical, and media applications, and big data only opens the door wider for text analytics making the business world more competitive than it already is.