Content analytics is an emerging field of analytics that enables companies to unlock the insights contained in unstructured content. This unstructured content can include forms, documents, comment fields in databases, web pages, customer correspondence, and other information that is not stored within structured data fields. Content analytics offers the ability to access, sort, and analyze content, and then combine it with structured data and other existing information resources and applications, for reporting and analytics.
Content analytics is a natural extension of business intelligence. Many organizations already use business intelligence for “data-driven decision-making.” This decision-making process is based on insights gleaned from records of past transactions and other structured information typically housed in data warehouses. Organizations can supplement these business intelligence methods with content techniques, which can be used to expose trends within unstructured content. For example, organizations can analyze content to address key business problems such as the following:
- Identify fraudulent claims based on the content of insurance claims forms.
- Measure and monitor customer-service metrics based on an analysis of text in call-center records.
- Plan product-release priorities based on an analysis of warranty records.
- Develop a winning competitive-selling strategy based on an analysis of text in competitor filings and win/loss data.