"Text analytics, my research shows, has become a "have to have" technology for a majority of companies that use it.
So I've learned from the many companies I've talked to as I prepare Hurwitz & Associates' Victory Index for Text Analytics, a tool that assesses not just the technical capability of the technology but its ability to provide tangible value to the business (look for the results of the Victory Index in about a month). However, they also said challenges abound -- and those don't necessarily involve the text analytics software itself.
Here’s a quick look at five challenges users said they most often run into with text analytics.
Data access. Often, companies will want to utilize more than one source of unstructured data for analysis, but gaining access to this data can be challenging. This is more than getting a hold of the Twitter fire hose for customer intelligence analysis. This is about the right to use internal or cross-company data stores like institutional document repositories in the face of corporate politics or delays due to operational procedures, like making formal requests for the data from IT.
Managing expectations. In some organizations, text analytics can leave management with the idea that you can simply plug in the software, feed it text data, and have it automatically give you the answers. While you may be able to get some high-level answers this way using tools tuned for social media, the reality is that most of the time you’ll have to interact with the software, especially when it comes to building a taxonomy (see No. 5). Text analytics tends to be more semi-automatic than automatic."