Global Voice of the Customer (VoC) Market Report 2021: Sentiment Analysis Enhances Business Intelligence and Opens Up Extraordinary Opportunities to Improve the Customer Experience

·3 min read

DUBLIN, Sept. 16, 2021 /PRNewswire/ -- The "Global Voice of the Customer (VoC) Market" report has been added to ResearchAndMarkets.com's offering.

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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

  • Definitions

  • 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

  • Sentiment Classification

  • Benefits of Sentiment Analysis

  • Limitations of Sentiment Analysis

  • Channels from which Data can be Extracted to Analyze Customer Sentiment

  • Major Trends

  • Sentiment Analysis - CX Use-Cases

  • Growth Drivers

  • Growth Restraints

  • Sentiment Analysis Market Opportunities

  • Sentiment Analysis: Next Steps

  • Key Considerations for End-user Organizations

3. Sentiment Analysis Provider Profiles

  • Sentiment Analysis Provider Profiles

  • BrandsEye

  • CallMiner

  • Limetropy

  • SANDSIV

  • Symanto

  • Wonderflow

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

Companies Mentioned

  • BrandsEye

  • CallMiner

  • Limetropy

  • SANDSIV

  • Symanto

  • Wonderflow

For more information about this report visit https://www.researchandmarkets.com/r/f5lyrj

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