Well-established businesses receive massive amounts of feedback every day, obtained through eCommerce platforms, customer support calls, emails, social media platforms, bots, and chats. This presents companies with an opportunity to collect remarkable volumes of customer data that they can use to enhance market intelligence.
VoC refers to 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 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 customers’ words.
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