Use text analytics technologies to handle mountains of unstructured data
Enterprises are sitting on mountains of unstructured data — 61 percent have more than 100 terabytes, and 12 percent have more than five petabytes! Luckily, there are mature technologies out there that can help.
First, enterprise information architects should consider general-purpose text analytics platforms. These are capable of handling most, if not all, text analytics use cases, both customer- (VOC and social listening) and non-customer-facing (document classification and categorization), as well as others such as competitive intelligence, market research, and semantic search.
This market consists of a complex and highly fragmented vendor landscape. Read “Q&A: Six Questions To Ask Before Diving Into Text Analytics” before diving into vendor selection.
Then, consider a list of 34 vendors (which Forrester preselected out of 100) based on capabilities and market presence: “Now Tech: AI-Based Text Analytics Platforms, Q2 2018.“
Lastly, to cut to the chase, you can shortlist eight market leaders based on broad and deep capabilities, strong vendor strategy, and market presence: “The Forrester Wave™: AI-Based Text Analytics Platforms, Q2 2018.“
If you are looking to do a deeper dive into document classification and categorization and address all file types (not just documents, but images, video, and audio files), you may want to consider “The Forrester Wave: File Analytics Providers, Q2 2018.” These platforms will especially appeal to GRC pros working on GDPR and other compliance initiatives.
On the customer-facing side, customer insights and customer experience professionals also have a couple of options:
For the general-purpose customer feedback management (CFM) platforms, they can choose from the “Voice Of The Customer Vendor Landscape, 2017,” and shortlist based on “The Forrester Wave: Customer Feedback Management Platforms, Q2 2017.” Stay tuned for 2018 updates by the end of the summer.
For a deeper dive specifically into social listening platforms, take a look at “Now Tech: Social Listening Platforms, Q2 2018,” and keep an eye out for a Wave in the next couple of months.
(This post originally appeared on the Forrester Research blog, which can be viewed here).