At around the time we all got sick of hearing the word “unprecedented” the business landscape was morphing and evolving at such a rate that it was hard to keep track. As businesses folded, many others emerged and grew, capitalising on the world’s dependence and fixation on social media.
It’s fertile ground for discovering new investment opportunities and potential business partnerships and with the assistance of new AI technologies, you can parse out the relevant data and information to help you find the cream of the crop of target businesses.
Automate Business Intelligence Processing Analysis
As we prepare to enter 2022, it’s hard to believe that some marketers are still opting to manually scour through news articles and social media to extract relevant information for business intelligence.Thankfully, advancements in AI meant that many are transitioning to automated systems.
The benefits of automating business intelligence gatherings are as follows:
1. Volume and velocity
Big data is almost as much of a challenge as it is an opportunity. The speed and velocity at which data comes in means that it would be impossible for anyone to manually process.
Spreadsheets only permit the analysis of quantitative, structured data. Generally, that means numerical data that can easily fit into rows and columns. But the majority of data online is qualitative, unstructured data that typically defies easy categorisation, such as images and long-form writing.
Symanto NLP technology can convert virtually any unstructured text data into measurable, structured data. That means that social media comments, online reviews, news articles, patents and legal documents all become useful and accessible sources of data filled with rich insights for decision making.
3. Level of analysis
Advanced AI technology doesn’t only capture and process the data, it has the ability to analyse it in detail. It looks at the data set from multiple angles and can give you in-depth insights.
4. A broader view
All of the above (volume and variety of data, and the speed at which it is processed and analysed) means that AI technology affords you a far broader snapshot of your target business at any given moment instead of waiting months for potentially outdated insights.
Finally, by removing the human from the business intelligence gathering process, you are simultaneously removing human bias. Humans may be more selective as to what constitutes useful data and may be based on assumptions as opposed to objective facts.
Broaden Data Sources for More Accurate Strategic Investment Decision-Making
One of the main advantages of 21st century business intelligence gathering is the sheer amount and variety of data that is freely and readily available. Social media, reviews, news sites, investment data, and patent data are all sources of unstructured data that can be mined and analysed by Symanto technology.
Then there is data that can be sourced on request or with further research such as surveys, CRM data, and chatbot transcripts.
Combined, this data holds an incredible potential for obtaining in-depth, multi-faceted insights to aid more accurate decision making for investments or partnerships.
Useful Insights for Decision-Making
Customer pain points
Get an in-depth look at exactly what people are talking about online. Symanto technology processes and analyses social media data and reviews and aggregates data to discover the key topics customers are mentioning and assigns them a sentiment score by measuring positive, negative and neutral language.
Symanto’s advanced NLP technology does this with greater accuracy than many social listening tools on the market.
Understand exactly what personalities are attracted to the target company by analysing speech for psychographic signifiers. Is the customer base generally more emotionally driven or are they more likely to base their decisions on factual information? Compare your data with key competitors to see which capture the same personality types. For mergers, find out whether the target company is a good fit with your business.
Discover where the target business fits within its industry. Compare brand mentions with key competitors for a useful share of voice metric. Run analyses on competitors’ publicly available data to compare customer sentiment per topic. Is there one area that your target business excels at? Is the target company falling behind their competition in any key areas?
Employee churn risk
Employee turnover is higher than ever, and posing a serious challenge to companies losing valuable mid-tenured employees at an alarming rate, and by extension, losing out on their cumulative experience and training. Find out what employees are saying about the target company on online reviews to discover whether the workforce is generally satisfied and why they are leaving.
Due diligence assessment
All of the above information combines to give you a three dimensional snapshot of the threats and opportunities of a target company, something that financial data alone cannot provide.
Symanto’s NLP technology can also be used to parse out relevant information in policy documents and legal papers to expedite due diligence reporting.
We recently reported on the use of Symanto NLP technology for ESG due diligence, something that is frustrating investment companies given the lack of standardisation in ESG reporting.