What are the opportunities and threats faced by the vendors in the international market?

What are the opportunities and threats faced by the vendors in the international market?

Text analysis is a process that derives meaning from written communication. In the context of the customer experience, text analysis means checking the text that you write or write about. Find the patterns and topics you are interested in, then take practical action based on what you learn. This market report is a thorough analysis of the existing situation and the anticipated condition for Text Analytics Software Market. Investigation for gathering the content for this report is done in-depth and meticulously.

New research from text analytics specialists, Warwick Analytics, shows that 59% of businesses who have a chatbot are unsatisfied with its performance. When discussing the technical challenges respondents faced trying to improve their own chatbots, the most common issues were improving containment rates (90%), reducing errors (83%), and developing the responses for the chatbot (79%). More significantly, an overwhelming 93% believed that human validation and/or curation was important to maintain and improve the performance of their chatbots. Dan Somers, CEO of Warwick Analytics, says: "Achieving the right level of human-in-the-loop input is key for chatbot owners and managers. Human validation is required for accuracy and improvement but if too much is required then a business may as well have a human service desk. It's all about finding the right technology that minimises the human intervention required but still increases accuracy."