Lexalytics Releases New Text Analytics Software

Jun 20, 2017

Lexalytics, a provider of cloud and on-prem text analytics solutions, announced the eCommerce Industry Pack, a specialized version of the company’s text analytics software. The eCommerce Industry Pack is engineered to help online retailers enhance the customer experience, including checkout and payments, shipping and delivery, and the site’s overall shopping performance.

The eCommerce Industry Pack leverages Lexalytics’ experience in developing natural language processing (NLP), machine learning (ML), and artificial intelligence technologies to gain insights from large volumes of data. Retailers and social media marketers can quickly analyze feedback from sources such as online comment sessions, customer surveys, product reviews, social media, and call logs to uncover correlations that aren’t obvious to humans. For example, if a marketer receives negative customer feedback around the holiday shopping season related to shipping and delivery issues, were the majority of those comments about a particular shipping carrier? Retailers using the eCommerce Industry Pack can examine that information to determine what might be happening with that carrier.

The eCommerce Industry Pack contains over 100 eCommerce-specific entities, including the names of major eCommerce sites, payment and shipping services, and loyalty programs. The pack also includes more than 4,800 sentiment phrases drawn from original eCommerce feedback straight from customers. In a test of over 1,000 documents, the company says Lexalytics eCommerce Industry Pack achieved 87% overall agreement with human annotators, far surpassing the gold standard at which humans agree of approximately 80%. In addition, Lexalytics offers complex intention analysis for eCommerce, identifying whether someone intends to buy, sell, quit or recommend a product or service.