Question: Reply to this post agree or disagree and explain why Analytics is a newly emerging and developing field that finds its relevance highly increasing in

Reply to this post agree or disagree and explain why

Analytics is a newly emerging and developing field that finds its relevance highly increasing in the modern business world which is transitioning towards the digital arena and the condition of activities online. Analytics as a general is the understanding of how the business is seen by the consumers, which factors of a business are loved by the consumers, which factors and sides are untouched by the consumers and need working. It identifies the gaps and tries to bridge them by seeing the consumer interaction with the business points of contact.

An example of analytics is google analytics. This works by putting up a shortcode in the website code of the company. Then any interaction, right from the landing of the consumer on the webpage, to his navigation behavior to the total time spent on the webpage, the activities are undertaken, the clicks that are undertaken are recorded and translated into numbers so that a business may know what parts it needs to work on,

Talking about text analytics, it is a tool that helps to understand the text that is available and out of that text, it tries to mine the data which is relevant to the business. This text that is drawn out of the entire information becomes the data that is relevant to the business. Thus in a way, it draws out data relevant to the business from all the information that is available. This data then becomes the metric for processing and understanding the consumer behavior and sentiment towards the business. For example, from the entire information, the business tries to draw out the incidences of a certain word, say "bad".The results would be negative consumer sentiment towards the business. Similarly, many words can give an indication of the consumer sentiment about a product or a service.

Thus, text analytics allows businesses to extract the meaning from every type of unstructured data, which may come from any medium like email, social media, etc to turn them into numbers and give a quantitative view into it. By identifying how the consumer interacts and the trends, the business can improve on certain features

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