Companies That Use Text Mining Software Increase the Amount of Digital Data That They Use
Although you cannot seem to make sense of your random internet searches or keep track of what websites that your visit when you are supposed to be working but are really online shopping, the best digital marketing teams can. From social media data analysis to identity resolution software, companies can not only make sense of what you are looking for, they can also attempt to predict what future items that you will buy. More than showing you items that look great with that new pair of jeans that you bought online, identity resolution schematics allow marketers to make predictions that you might be looking for some new designer pillows for your basement sofa, simply because they know that you were doing some online research about furnace prices and drywalling techniques.
Whether we realize it or not, every time that we go online we are leaving a trail of data that marketers can use. From identity resolution software to smart geotagging, the online searches that we conduct and the location tags that we make can help companies reach you with the products and services that they offer. The interesting fact, however, is that even with the thousands of pieces of digital crumbs that we leave behind, not every company is doing what they can to capitalize on this available information.
Entity Matching Software and Identity Resolution Applications Can Help Your Company Make Better Use of Your Customers’ Digital Data
At the same time that many Americans are worried about the digital trail that they leave, you might be surprised to know that for the most part, there are very few companies that are maximizing the use of these digital footprints. Without the right kind of text mining software, for instance, many companies are missing out on the chance to take advantage of what could be some very valuable information. The latest studies from The International Data Corporation (IDC) show, for instance, that less than 1% of data is ever analyzed. Companies that take the time and make the investment in text mining, however, can bridge the gap to the missing 99%.
Fortunately, a company can improve their digital marketing plan if they work with a provider that can help analysis the digital data that is already available, but not being used. Experts expect that the current value of the text analytic market is at an estimated $3 billion. It is forecasted, however, that this number will reach almost $6 billion by the year 2020. Will your company be one of those increasing the investment in makes in these currently underused digital resources?