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How does your business, its products and its services stack up against the competition? If you rely solely on text analytics to review customer feedback, your company may be missing out on competitive insights that it can use to gain an edge over its rivals. 

Text analytics empowers business managers with customer data from blog posts, web polls and surveys and other online sources. In addition, text analytics offers instant access to customer feedback, ensuring managers won't have to wait long to obtain customer data from across the internet. 

On the other hand, text analytics is limited because it provides managers with data collection capabilities – not data analysis capabilities. This means managers will need to dedicate significant time and resources to perform data mining to transform customer feedback into competitive insights. 

Clearly, managers require extra help if they want to obtain competitive insights without extensive data mining. With comparison analysis, managers now can review a large collection of customer data with ease. 

How Does Comparison Analysis Work? 

To better understand how comparison analysis works, let's consider an example involving two of the leading smartphones – the Apple iPhone 7 and Samsung Galaxy S7. 

Today, Apple and Samsung are leaders in the global smartphone marketplace. The iPhone 7 and Galaxy S7 represent the latest smartphones from Apple and Samsung, respectively, and a comparison analysis was performed to illustrate how customers feel about both devices. 

The smartphone comparison analysis provided the following results: 

• Overall: The iPhone 7 (95 percent) received a better score than the Galaxy S7 (92 percent).
• Performance: Consumers indicated the Galaxy S7 (92 percent) performed better than the iPhone 7 (87 percent).
• Design: The iPhone 7 (100 percent) featured a flawless design; comparatively, the Galaxy S7 (95 percent) earned a near-perfect design score.
• Features: The iPhone 7 (100 percent) received a perfect score for its features, while the features of the Samsung Galaxy S7 (94 percent) were inferior to those of its Apple counterpart.
• Screen: There was a sharp contrast between the screen score for the Galaxy S7 (76 percent) and the screen score for the iPhone 7 (97 percent).
• Future Purchase: Both the iPhone 7 (94 percent) and Galaxy S7 (98 percent) garnered high marks for future purchase.
• Sound: Consumers preferred the sound quality of the Galaxy S7 (88 percent) to the sound quality of the iPhone 7 (77 percent).
• Star Rating Score: Overall, the Galaxy S7 (+68) earned a superior star rating score than the iPhone 7 (+57).

The smartphone comparison analysis indicated the iPhone 7 and Galaxy S7 have many strengths and weaknesses relative to one another. Ultimately, the analysis empowers smartphone shoppers with insights they can use to make more informed decisions. 

With a comparison analysis, business managers can review customer data related to a business, its products and its services, along with its rivals and their products and services. The comprehensive analysis features charts, graphs and other visualizations – all of which are based on customer feedback. That way, managers can generate meaningful insights to drive actionable business improvements. 

Furthermore, comparison analysis is easy to use, particularly for managers who leverage the combination of text analytics and Self-Service Text Analysis. 

Text analytics ensures managers can obtain customer feedback from multiple online sources. Meanwhile, Self-Service Text Analysis enables managers to produce comparison analyses in just minutes. The data analysis service complements text analytics, ensuring managers can transform customer feedback into meaningful insights quickly. 

Ready to take your data analysis efforts to the next level? Choose comparison analysis, and managers can generate in-depth customer insights and find ways to enhance a company's products, services and customer interactions. 

Summary

Many business managers utilize text analytics to obtain customer feedback from online sources, but few managers understand how to generate meaningful customer insights. Instead, managers frequently perform data mining in combination with their text analytics efforts, which may prove to be costly and time-intensive. Comparison analysis now streamlines the process of reviewing customer insights, ensuring managers can use charts, graphs and other visualizations to assess customer feedback. Plus, Self-Service Text Analysis provides comparison analysis capabilities, making it simple for managers to produce comparison analyses at any time. The combination of text analytics and Self-Service Text Analysis enables managers to generate comparison analyses, and as a result, may help a company gain a competitive edge.