Data is a main driver behind business strategy and projection, yet inaccurate data leads to poor or ineffectual decision making. As a result, bad data is costly. According to research conducted by IBM, bad data costs US businesses $3.1 trillion per year.
So it’s vitally important to use high-quality, accurate data for reliable insights that can positively impact your marketing, sales, and bottom line.
What type of data you collect, how you collect it and how you process it will all affect the quality of your insights. Find out the advantages and disadvantages of different data sources and discover the ground breaking data insight solution that draws meaningful, quality insights from your data in minutes.
Advantages and Disadvantages of Different Data Sources
Review sites are a great way of retrieving honest insights directly from your existing customers. As well as general sites such as Google and Yelp, there are also dozens of industry-specific review sites such as TripAdvisor, OpenTable and Capterra.
CRM data is captured through website forms (e.g. sign up forms) and web analytics and is often populated with data from other sources mentioned in this article (namely social media and surveys). Information is aggregated to create a holistic profile of each customer.
Social Media Data
Social media data is gathered from social networks showing how users engage with your content. When most people talk about social media data they refer to quantitative statistics (the number of likes, shares, comments etc) but it is also rich in qualitative data which can be mined for more meaningful insights.
Enhance Data Insights with Solutions by Symanto
Symanto has developed solutions to counter many of the disadvantages of the different data sources mentioned above to improve the quality of your insights.
Use any and all data sources
The Symanto Insights Platform is a data insights solution that draws clear and meaningful insights from qualitative data wherever it’s captured.
- Surveys – Symanto has direct integration with SurveyMonkey and TypeForm
- Review sites & social media data – The Symanto Insights Platform is connected with over 75 review sites and online portals.
- CRM data – Upload your own data set from your CRM and choose which column you’d like Symanto to analyse.
This allows you to make the most of all relevant data sources at your disposal.
Get insights within minutes
Symanto automatically organises and analyses vast quantities of qualitative data within a matter of minutes. Our AI technology automates a process that would take months to manually organise, meaning you can repeat the process regularly to stay up to date on what people are saying about your brand online.
Rich insights on a general and granular level
Symanto’s Deep Learning AI technology scans conversations for brand sentiment, topic sentiment, emotion, and the psychographic traits of your consumers.
Get an overview of how your brand, product or service is performing. Find out how your brand is perceived in general and per topic, discover customer pain points, find out what motivates your customers to make a purchase from you.
The information is organised so that you can deep dive into the data so that you can easily navigate and explore the insights right down to reading comments to give insights their full context.
Deep Learning improves accuracy
Our AI technology is constantly improving its accuracy. Symanto’s text sentiment analysis is able to read a sentence in context before assigning a positive or negative sentence.
Consider the following comment: “Their tacos never fail to impress me.” A less advanced sentiment analysis tool may isolate the words “never” and “fail” and assign a negative sentiment. Symanto, on the other hand, identifies that the overall meaning of the sentence is positive.