With nearly 5 billion users worldwide—more than 60% of the global population—social media platforms have become a vast source of data that businesses can leverage for improved customer satisfaction, better marketing strategies and faster overall business growth. Manually processing data at that scale, however, can prove prohibitively costly and time-consuming. One of the best ways to take advantage of social media data is to implement text-mining programs that streamline the process.
Text mining—also called text data mining—is an advanced discipline within data science that uses natural language processing (NLP), artificial intelligence (AI) and machine learning models, and data mining techniques to derive pertinent qualitative information from unstructured text data. Text analysis takes it a step farther by focusing on pattern identification across large datasets, producing more quantitative results.
As it pertains to social media data, text mining algorithms (and by extension, text analysis) allow businesses to extract, analyze and interpret linguistic data from comments, posts, customer reviews and other text on social media platforms and leverage those data sources to improve products, services and processes.
When used strategically, text-mining tools can transform raw data into real business intelligence, giving companies a competitive edge.
Understanding the text-mining workflow is vital to unlocking the full potential of the methodology. Here, we’ll lay out the text-mining process, highlighting each step and its significance to the overall outcome.
The first step in the text-mining workflow is information retrieval, which requires data scientists to gather relevant textual data from various sources (e.g., websites, social media platforms, customer surveys, online reviews, emails and/or internal databases). The data collection process should be tailored to the specific objectives of the analysis. In the case of social media text mining, that means a focus on comments, posts, ads, audio transcripts, etc.
Once you collect the necessary data, you’ll preprocess it in preparation for analysis. Preprocessing will include several sub-steps, including the following:
In this stage, you’ll assign the data numerical values so it can be processed by machine learning (ML) algorithms, which will create a predictive model from the training inputs. These are two common methods for text representation:
Once you’ve assigned numerical values, you will apply one or more text-mining techniques to the structured data to extract insights from social media data. Some common techniques include the following:
The next step is to examine the extracted patterns, trends and insights to develop meaningful conclusions. Data visualization techniques like word clouds, bar charts and network graphs can help you present the findings in a concise, visually appealing way.
It’s essential to make sure your mining results are accurate and reliable, so in the penultimate stage, you should validate the results. Evaluate the performance of the text-mining models using relevant evaluation metrics and compare your outcomes with ground truth and/or expert judgment. If necessary, make adjustments to the preprocessing, representation and/or modeling steps to improve the results. You may need to iterate this process until the results are satisfactory.
The final step of the text-mining workflow is transforming the derived insights into actionable strategies that will help your business optimize social media data and usage. The extracted knowledge can guide processes like product improvements, marketing campaigns, customer support enhancements and risk mitigation strategies—all from social media content that already exists.
Text mining helps companies leverage the omnipresence of social media platforms/content to improve a business’s products, services, processes and strategies. Some of the most interesting use cases for social media text mining include the following:
Social media platforms have become a goldmine of information, offering businesses an unprecedented opportunity to harness the power of user-generated content. And with advanced software like IBM watsonx Assistant, social media data is more powerful than ever.
IBM watsonx Assistant is a market-leading, conversational AI product designed to help you supercharge your business. Built on deep learning, machine learning and NLP models, watsonx Assistant enables accurate information extraction, delivers granular insights from documents and boosts the accuracy of responses. Watson also relies on intent classification and entity recognition to help businesses better understand customer needs and perceptions.
In the age of big data, companies are always on the hunt for advanced tools and techniques to extract insights from data reserves. By leveraging text-mining insights from social media content using watsonx Assistant, your business can maximize the value of the endless streams of data social media users create every day, and ultimately improve both consumer relationships and their bottom line.
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