Markets

Lexalytics is in the discovery business: through our suite of text mining and Sentiment Analysis tools, companies discover new and innovative ways to get ahead in their markets. Below you’ll find just a few of the industries in which Lexalytics’ clients and customers are utilizing our software to grow and thrive.

Markets | Solutions | Applications

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Hospitality

Hospitality is a quintessential example of where text analytics can be applied for brand management and business growth. Hoteliers big and small use text mining tools like Salience Engine and Semantria API/Excel to listen in on conversations related to their lodging, resorts, and food service. Text mining opens a window into your customer’s unvarnished experiences, through notes written by customers in their own voice. As a hospitality professional, here are just a few of the ways you’ll apply our text analytics software:

  • Find themes and topics that keep cropping up in consumer reviews, and the sentiment associated with each, to see which features of your property are influencing ratings.
  • Ask and answer illuminating questions: Is your swimming pool viewed favorably, or do guests have problems with it? Are guests satisfied with your room service dining menu? By creating queries that target specific search areas, you’ll get answers to questions like these to guide your decisions on budget allocation and maintenance priorities.
  • Do you have a loyalty program? Discover what your members really like, so you can offer targeted promotions and further build on their brand loyalty.
  • Locate potential customers and secure their booking with information and special offers based on their travel history and preferences.
Lexalytics customers add on the Hospitality Industry Packs which include over 120 different categories that have been pre-configured to determine what a piece of customer feedback is about, further reducing the time it takes to achieve optimal analysis.

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Retail Sales

Success in the retail sales industry is all about positive customer interactions with products and business associates (salespeople, customer service agents, etc.) Consumers all over the Internet talk about your products and the experiences they’ve had at your stores, and it’s vitally important that you listen in. Text mining for product development and customer experience management utilizes a number of text functions:

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Product Development

  • Categorize the text of online reviews, blog mentions, Facebook comments, and Tweets, to find the most prevalent topics of discussion amongst consumers.
  • Use entity extraction to identify mentions of individual products, staff members, or outlet locations.
  • Examine themes to see what customers are saying about those entities.
  • Trace sentiment back to individual entities, themes, and topics to see public opinion directed at each.
  • Create queries to track specific problem areas over time, monitoring consumer response to the changes you implement.

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Customer Experience Management

CEM is very important in retail management. By mining text reviews for customer opinions, you’ll ask and answer questions like:

  • Is my staff providing appropriate care?
  • Should I rebalance sales associates across stores?
  • Are my stores well organized, clean, and well lit? Which ones aren’t?
  • Are any of my stores located in bad neighborhoods, and merit moving?
Retail chains use text mining tools to differentiate conversations related to their overall brand from discussions of individual outlets and franchises, to ensure that every store is meeting their CEM standards.

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Consumer Packaged Goods

The consumer packaged goods market is highly competitive, so you should take every chance to get ahead. Lexalytics provides those chances, by tapping you into the buzz surrounding your products, brands, and associated promotions. Tweets, Facebook comments, and online reviews are treasure troves of information ripe for analysis — or develop your own direct-to-consumer channels of communication to find out what your customers care about and what they need, then leverage this information for efficiency and increased sales.

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Entertainment

Entertainment is another industry in which customer experience matters more than anything else; whether it’s television shows, movies, or news, conversations relating to media and entertainment are always full of important sentiment and opinions.

  • Find the trending topics of discussion: last night’s season finale, casting for a new show, etc.
  • Pick out entities representing individual movies, TV shows, and personalities.
  • See the themes prevalent in these discussions.
  • And track the sentiment directed at each topic, theme, and entity to know exactly how people feel.
Here are just a few of the discovery questions you’ll ask and answer when you choose Lexalytics as your text mining solution:
  • Which movie should you license next? Did you make the right choice with that last one? Why?
  • Are there particular genres on the verge of gaining popularity?
  • Are there particular parts of the story arc or characters that are resonating?
  • Do you have any broadcast or theatre issues?

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Financial Services

The world of finance is full of untapped information sources. Both customers and finance professionals make thousands of comments on social media and other sources about various goings-on in both consumer and corporate finance; to understand these conversations, Lexalytics developed a hybrid text mining vertical targeted at the financial services industry. This innovative approach to text analysis is optimized for both microdata and macrodata, for both consumer and commercial finance.

Consumer

  • Understand your customers’ conversations about your mortgage rates, credit card deals, and other offerings.
  • Gain insight into customer opinion on your mobile and online banking services
  • Gain an understanding of the language consumers use to discuss your competitors.

Commercial

  • Analyze finance and big business news for trends and patterns
  • Watch public reaction to recent mergers and acquisitions
  • Identify relationships between entities (people/places/organizations) based on shared topics

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Restaurants/Food Services

If a customer at your restaurant has a bad experience, the trouble is twofold: first, there’s a good chance they won’t come back for another try; and even worse, they’ll post a negative review online that may scare away potential customers. Restaurant managers need to be proactive in their customer service — so keep an ear to the ground and monitor social media to attract and maintain customers. Food service is a business of questions:

  • What dishes are customers discussing? What are they not discussing?
  • Which menu items are well received, which are disliked?
  • Why do customers like or dislike individual items?
  • How is your service? Slow and brusque? Warm and welcoming?
Of course, you must capitalize on the answers you get, making changes to individual dishes based on customer feedback, adding or pulling menu items as necessary. Text mining also informs promotions: for example, when you see that customers really appreciated last week’s complimentary bruschetta, you should consider offering it more often to encourage repeat business. And individual mentions of individual hosts and wait staff may merit promotion or discipline, or changes to your service as a whole.

Salience and Semantria users can add on Lexalytics' Restaurant Industry Pack, which helps optimize intentions, and includes over 80 different pre-configured categories to help identify the meaning of customer feedback, reducing the analysis time.

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