“Move over, Big Data. Here comes Big Text. Or, as it’s more commonly known, “text analytics.” Or, sometimes, “text mining.”
Essentially, it’s the analysis of all the unstructured data a bank absorbs through email; social media posts; call center notes and transcripts; surveys and feedback forms—any information provided by or about customers not structured in some type of database.
More specifically, it could be a snarky comment on Facebook; the jottings of a call center representative; scribbled notes at the end of a survey; or a mobile text from a grateful customer to a helpful teller.”
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