Global Text Analytics Market Growth Strategy and Industry Development to 2027

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Increasing Demand for Social Media Analytics to
Augment Global Text Analytics Market Text
analytics transforms unstructured text into
structured data to aid identification of
meaningful patterns and fresh insights. This is
achieved by breaking sentences and phrases into
their components and then evaluating each
component using complex software rules and
machine learning algorithms. Furthermore, this
comprises text mining, which pulls text from a
source into a model for data analysis, and
natural language processing (NLP) to transform
written language into data. Increase in demand
for social media analytics is augmenting growth
of the global text analytics market. Get
Exclusive PDF Sample Copy Of This Report_at_
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t-analytics-market/request-sample Leading
software companies are understanding a growing
importance of fresh skills for proper text
analytics. These skills consist of indispensable
features that combine insights from unstructured
customer orders and social media data that
augment campaign results leveraging new
opportunities of expansion. Moreover,
augmentation of competitive intelligence and
enhanced customer services are projected to offer
lucrative opportunities of growth during the
forecast period. Increasing Popularity of
Predictive Analytics Projected to be a Key Driver
of Growth for Text Analytics Market Predictive
analytics is aiding the augmentation of internal
operations of businesses. Such technologies are
being used enhance customer services, efficiently
manage budgets, understand the scopes of new
markets, and project the impact of campaigns. As
technology advances towards accuracy,
accessibility, and cost-efficiency, the benefits
of text analytics are increasingly gripping
software establishments. Increasing applications
of standard statistical practices, and
technologies surrounding artificial intelligence
are being adopted to evaluate future outcomes
based on existing data. These techniques
facilitate problem-resolving capacities like
reducing risk, improving market campaigns,
optimize operation, and fraud detection.
Therefore, all these factors act as the key
driving forces of the text analytics
industry. North America Projected to Maintain a
Dominant Position in the Global Text Analytics
Market The United States of America constitutes
a major text analytics market within the North
American region. This owes to the increasing
application of text analytics across end-user
industries. The region has always been a
forerunner in taking up advanced technologies.
Therefore, the United States is major contributor
of maintaining North American dominance
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over the global text analytics market due to a
strong presence of major text analytics
providers. Increasing investments in artificial
intelligence and machine learning are also
driving market growth in the region. Companies
Invest in Augmented Updates on Existing
Technologies to Retain Customers Businesses are
increasingly developing fresh technologies to
attract new customers and retaining the present
consumer-base. In July 2019, Microsoft launched
an update of their sentiment analysis solution.
The new model has drastically boosted the ability
of detecting negative, positive, and mixed
sentiment in unstructured text documents.
Similarly, in May 2021, TCS and Microfocuss
unified analytics platform, Vertica, announced a
strategic partnership to accelerate the process
of modernization in enterprise data warehouses
for various data-driven companies using Unified
Analytics Platform. A group of companies
constitute a larger share of the global text
analytics market. These include IBM, SAP, SAS,
Capgemini, Microsoft, Attivio, and Oracle. The
secondary group consist of NICE, and Confirmit
AS along with others. Check Complete Report
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