DUBLIN, Sept. 16, 2021 /PRNewswire/ -- The "Global Voice of the Customer (VoC) Market" report has been added to ResearchAndMarkets.com's offering.
Well-established businesses receive massive amounts of feedback every day, and this is obtained through eCommerce platforms, customer support calls, emails, social media platforms, bots, and chats. This presents companies with substantial opportunity to collect large amounts of customer data and enhance market intelligence.
Voice of the customer (VoC) is the practice of collecting, analyzing, and distributing customer feedback to improve a product, solution, or service. With accurate VoC data, businesses can enhance customer experience (CX), meet unmet needs in the marketplace, and differentiate themselves from their competitors.
Companies can unlock VoC through technologies such as sentiment analysis, which uses natural language processing (NLP), machine learning (ML), text analysis, and computational linguistics to identify the opinion, intent, or emotion behind the natural language. Through the use of specific words, tone, and the context of the conversation, sentiment analysis engines can recognize emotions and sentiments in customer-business interactions.
Sentiment analysis tools can identify 3 characteristics: topic-what is a comment addressing?; opinion-does the speaker hold a favorable or an unfavorable opinion?; and emotion-what are the customers' emotions and sensitivities? (emotions can range from happiness, excitement, and contentment to anger, annoyance, and irritation).
Sentiment analysis is redefining the VoC landscape, and it complements surveys and other traditional solicited feedback methods. The implementation of sentiment analysis brings several benefits to organizations, including the potential to increase RoI, revenue, and cost savings; the ability to increase customer retention; and the capability to offer an enhanced CX.
In addition, VoC platforms can generate automated, complex, and actionable insights that will change the ways businesses operate. Advancements in AI and IoT and higher sentiment analysis adoption will guarantee a bright future for VoC tools.
Key Topics Covered:
1. Strategic Imperatives
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top Three Strategic Imperatives on the Global Sentiment Analysis Industry
Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis, 2021
Evolution of the Contact Center
From CX Data to Action
Types of CX Data
Introduction to VoC and its Role in CX Management
Methods to Obtain VoC
Introduction to Sentiment Analysis
Sentiment Classification: Elements that Affect Scores
Types of Sentiment Analysis
Benefits of Sentiment Analysis
Limitations of Sentiment Analysis
Channels from which Data can be Extracted to Analyze Customer Sentiment
Sentiment Analysis - CX Use-Cases
Sentiment Analysis Market Opportunities
Sentiment Analysis: Next Steps
Key Considerations for End-user Organizations
3. Sentiment Analysis Provider Profiles
Sentiment Analysis Provider Profiles
4. Growth Opportunity Universe, 2021
Growth Opportunity 1 - Partnerships with Leading Participants, CX Solution Providers, and Integrators
Growth Opportunity 2 - Enhancement of Visualization and Reporting Capabilities to Achieve Competitive Differentiation
Growth Opportunity 3 - Expansion of Polarity Categories and Sentiment Classification
Growth Opportunity 4 - Emphasis on Security and Data Compliance
Growth Opportunity 5 - Design Industry-Specific Packages
For more information about this report visit https://www.researchandmarkets.com/r/f5lyrj
Research and Markets
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SOURCE Research and Markets