When buying anything, a customer’s mind will automatically classify each offering from each company. Some will be considered great, some good and some bad. The customer might spend money on the great or good products depending on the budget and expense, but he or she will always ignore the one considered bad. Why does the customer consider a product or company as bad? This is where emotional analytics comes in. Talk to any consumer, they will describe unfavorable situations from companies that they even like. Emotional Analytics can help identify the exact how and why of an unfavorable situation or opinion.
Emotional Analytics basically analyses how any individual communicates both verbally and non-verbally to understand how they feel about a product or any situation. Brands especially, need these emotional insights to act as a shorthand to determine their place in the market. The whole point of creating brands and implementing branding is to induce a sense of familiarity within the consumer if the brands invoke a negative reaction then they have essentially failed at their purpose. This is determined through affective computing, identifying, and processing the full emotional spectrum like mood and attitude in relation to favored or unfavoured brands. It is an advanced form of sentiment analysis and is more useful, helping solve crucial problems through contextual understanding.
Brands can use emotional analytics to understand the unique expectations that the customer has of them and create a personalized experience to meet and exceed these expectations. As an example, Disney has started using AI to identify real-time responses of audiences to their movies. Bloomberg allows clients to track emotions from text and voice communication allowing them to accurately predict cases of market abuse.
Humana a health insurance company has collaborated with an emotional intelligence focused company Cogito Corp to enable their call center agents to deliver a better experience to callers. They implemented voice emotion analytics to provide insights into what the customer is feeling during calls, this helps the agents react appropriately and resolve any issues.
Analytics has continued to help companies streamline their operations throughout the past few years. You can hear more and more success stories from analytics almost every day. It is a rich and wondrous world with endless possibilities.
