Text Analysis Software

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Learn More About Text Analysis Software

What Is Text Analysis Software?

Text analysis software, also referred to as text mining or text analytics software, uses natural language processing (NLP) to turn unstructured data into more meaningful data. Users invest in text analysis software to assist in data analysis, measure customer opinions contained in product reviews and feedback, support fact-based decision making for improving overall efficiency as well as providing a search facility.

NLP methods used by text analysis software include understanding key phrases, language, themes, and patterns used in the text. This data is drawn from text contained in sources such as emails, phone transcripts, surveys, and customer review boards. Rather than relying on humans to manually code test-based responses, these tools use artificial intelligence to provide more accurate and consistent text analysis.

One large benefit of using text analysis software is the ability to obtain visual representations of text-based data. For example, a frequency chart that plots the number of times specific pieces of feedback were mentioned. Text analysis tools can also be integrated with other analytics software, like business intelligence platforms.

Text Analysis Software Features

Some common features found within text analysis software include:

  • Language detection
  • Collaboration tools
  • Text & sentiment analysis
  • Data blending & cleansing
  • Natural language selection
  • AI machine learning
  • Customizable dashboards
  • Multi-language support
  • Knowledge management

Text Analysis Software Comparison

Though using text analysis software offers the users many benefits, be sure to keep in mind some key differences between products before purchasing one:

  • Data support. Prior to purchasing, it is important to note if the software is capable of supporting all file types, image enhancing, processing, and a range of languages.
  • Ease of use. Be sure the product is easy to learn or will at least provide helpful training materials to be able to utilize all the features provided.

Pricing Information

Pricing for text analysis software tools varies according to features and amount of users required. Some vendors will require only an annual payment, while others will charge per month.

Costs generally start at about $400 per year, for plans with limited features and users. Monthly rates can be as high as $2000 per month for plans with unlimited users and in-depth data analysis. Some vendors offer a free version or free trial of their text analysis platform.

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Frequently Asked Questions

What does text analysis software do?

Text analysis software tools use natural language processing (NLP) to analyze text-based data contained in emails, surveys, customer reviews, etc. The tool then produces insights about trends and patterns it identifies within the data.

What are the benefits of using text analysis software?

Using text analysis software enables businesses to gain a better understanding of patterns and trends in qualitative feedback and responses they get from customers. This can help improve customer support and satisfaction. Additionally, using text analysis tools instead of humans to interpret language data allows for more accurate and consistent results.

What are the best text analysis software products?

The top-rated text analysis tools include:

How much does text analysis software cost?

Vendors may require customers to pay either an annual or monthly subscription fee. The cost can be as low as $400 per year, for a limited text analysis software plan. More advanced plans can cost upwards of $200 per month, though these plans typically include more features and users.