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May 10, 2016

Content Analytics – Providing Greater Business Value to Marketers

In the age of internet and digital media, modern businesses are constantly facing a problem called ‘information overload.'
Information Challenges in Business

In the age of internet and digital media, modern businesses are constantly facing a problem called ‘information overload.'

With the rise of social media and content marketing, an enormous volume of information is being generated and stored continuously. Research found that more than 80% of information stored is unstructured text content. The ability to unlock the potential of unstructured data has become essential to the growth and success of any business.

However, for a computer system, it’s hard to understand the nuances of the human language, such as irony and implications of words with multiple meaning, but it is not impossible with the use of natural language processing (NLP) frameworks such as UIMA (Unstructured Information Management Architecture). Content Analytics using NLP evaluate unstructured content much like a person reading the content would and combines traditional website analytics with social signals to generate valuable insights and recommendations on improving your website audience engagement.

Content Analytics – What Is It?

“Content analytics is the act of applying business intelligence (BI) and business analytics (BA) practices to digital content.” – Source: TechTarget Search Content Management

The objective of Content Analytics software is to understand unstructured content using semantic technologies to identify and extract keywords or phrases that describe the content. The output is called metadata which usually contains vital information like author’s name, date of creation, author’s location, age, gender and more. Content analytics lets you develop deep insight about what people (prospects) are talking about, their interests, their opinions, and their likes and dislikes, which are valuable in business decision making.

Content Analytics in Business – Current Scenario

So, Content Analytics increases the effectiveness of content marketing. It helps in evaluating unstructured content and repurposing old content.

Although many large and small enterprises still rely on rudimentary analytical tools, research and surveys reveal that with the growing importance of content marketing in branding and promotion, content analytics is going to be an essential tool for every business to obtain a competitive edge in the marketplace.

Companies that have knowledge process at the core of its business, involving digital documentation, content creation, and content curation on a daily basis, are gradually adopting content analytics to ensure growth and progress. The big brands and marketers focusing on content marketing have also realized the value of content analytics. According to Deloitte Analytics’ Analytics Advantage survey, 96% respondents believe that analytics will become vital for their organizations in the coming years. However, the study also highlights the fact that a great deal of data remains unused for decision making.

Why modern businesses need content analytics?

Using analytics data for more relevant and useful content creation is, perhaps, the only constant in the dynamics of content marketing.

Modern marketing has become more data-centric, especially customer data. With an analytics dashboard to capture and scrutinize real-time, user-generated content as well as brand-generated content flowing in because of various sales, marketing, and customer service activities, marketers can be more in control of their content marketing campaigns.

It’s not enough to know which page is getting a high-volume of traffic and which has a high bounce rate and then tweaking your website content accordingly. With the increasing use of digital content and a variety of content sharing channels, the challenge lies in developing and presenting personalized content that can attract more prospects and retain them.

Social media, blogging, and other social sharing networks have now become a vital source of information for marketers. Blog posts, tweets, Facebook status updates, comments, online customer reviews, and feedback – all these contribute to the pool of unstructured content with high potential. But it is not possible for business owners/marketers to read each and every customer review, feedback, and comments regularly. Content analytics makes it easier to curate, examine, and evaluate such content and present a comprehensive analytical report, which can help in making strategic decisions.

Apart from user-generated content, a company also produces unstructured content in the form of websites, blogs, FAQs, policy documents, office communication documents, images, video presentations, emails, and more. Content analytics can also be used in a predictive analysis to recognize trends and patterns in an organization’s unstructured content.

Content Analytics to understand your prospects better

On social media, it’s not just about having millions of followers; it’s about finding your key influencers.

Again, smart marketers understand it is not just having a high number of followers and acquiring hundreds of likes on social media. They want to know their prospects and customers better to ensure an improved customer experience. So, if you can delve deeper into your followers’ social updates and shares, profile information, location, cultural background and sentiments, you’ll have a more detailed picture of your prospects. The insight gained from the analysis leads to improved customer engagement, which not only enhances your brand image but also lets you develop a bigger vision for marketing.

Content analytics for better decision making and improved ROI

With the growing importance of content in digital marketing, content analytics becomes a vital decision-support tool for modern marketers.

Content Analytics makes searching for information easier and faster. It transforms information into actionable insights allowing business owners and knowledge workers the freedom and ease of deriving a robust content strategy without investing a lot of time in reading and research.

Not just digital marketing and knowledge process services, other organizations can also capitalize on the potential of content analytics if it is customized for their particular industry sectors. Technical support is one area where content analytics is being used to populate answers in real time as soon as a user starts typing in a question. Currently, content analytics is successfully being used in healthcare, customer service, insurance, crime analysis, and other service sectors. With advancing technology, it is possible to integrate content analytics with the user’s existing application environment.

Recent research, conducted by Market Intelligence division of AIIM (Association for Information and Image Management) on adoption, usage and issues regarding content analytics in business, reveals that 36% of marketers refrain from implementing content analytics simply due to lack of expertise. But the same survey also reinforces the fact that there is a growing interest in using content analytics for business.

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