Written by Mukunda Krishnaswamy, CTO, MimosaSoft
Writing a story that connects with readers is an art. Story writers have used a number of successful techniques to engage and entertain their readers over the centuries. Discovering and applying those techniques, however, have always been a challenge for new writers. Recently computer scientists at Stony Brook University explored the quantitative connection between some of the most successful pieces of modern literature and the writing style of the authors, allowing them to develop a predictive algorithm for future novels. Interestingly, they were able to predict with 84% accuracy if a fictional work was going to be a success or a failure!
Searching for a way to connect to readers is not limited to literary authors, though. Those responsible for writing marketing copy and brand messaging must also find a way to make this connection happen. The deeper the connection, the easier it will be to write that “best-selling” copy. The comment sections of blogs can often be entertaining. Consumer opinions and observations can make you laugh, make you think, or maybe even make you respond. And blogs are not the only venue of this phenomenon. It occurs on LinkedIn, Facebook, Twitter, and myriad other locations across the internet.
Social media pervades almost every aspect of business, but in some ways connecting with customers has never been more difficult. Feedback is constant, available across multiple channels, and is updated at a high frequency. Determining the best way to access that data and understanding how to effectively analyze it can be overwhelming, but for marketers it is crucial to understand consumer actions. Customer actions are not limited to social media. Often, their behaviors in the company’s own web backyard offer valuable insights as well. Comprehending what happens behind the scenes of company webpages and sub-pages linked to the main page adds one more layer of information companies need to better understand their primary customers.
Mimosasoft recently launched a product called MimoLex to help marketers write engaging content (“best sellers”), listen to customers across multiple channels, and get insights into what customers respond to. They leveraged SAP HANA’s rich set of natural language processing (NLP) functions, statistical analysis, and findings of the computer scientists at the Stony Brook University to develop the MimoLex solution.
MimoLex goes beyond sentiment analysis and allows construction of models that relate engagement metrics such as time spent on a page to lexical composition. Then, it uses the empirical models to forecast engagement metrics for new pages. “Google analytics tells you what visitors did on your site, but we tell you the why,” said Marisa Adams, Solution Manager at Mimosasoft. Although the current solution is targeted toward online businesses and publishers, it has uses in a number of other industry verticals ranging from Wall Street to hospitality. For example, a financial analyst could use this tool to get sell or buy sentiments on a stock in social media. Or a hospitality brand owner could listen to customer feedback about their services on websites such as Tripadvisor.com
How Did They Do It? Leveraging SAP HANA, MimoLex captures and mines data across all sites a company on which may be mentioned. It then performs linguistic and entity analysis using the HANA function libraries along with its own statistical analysis and consolidation. In simple terms, lexical analysis involves breaking down a text document into smaller words or phrases and identifying its grammatical role. Entity analysis involves identification of places, dates, brands and other useful information from any text data. The HANA platform’s ability to process high data volumes generated through NLP performed on customer feedback at lightning speed provides marketers with advanced analysis in real-time. The result is simple to use and easy to read reports that offer real time, actionable insight into customer behavior.
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