At the present time, customer satisfaction and improvement of customer experience have become quite crucial for almost all industries. Enterprises across the globe are increasingly focusing on paying attention to the reaction of customers regarding their products and services in order to set themselves apart from mediocre advertisement strategies. It is common for stores to get feedback of people after they have taken a look around and the same is true for several online platforms. Organizations are taking care of not just investing heavily in conventional ways of advertising products, but are providing services on the basis of sufficient research regarding consumer behavior.
It is due to this that the demand for emotion analytics solutions is growing at a rapid pace. Emotional analytics technology aids in collecting data about how a person communicates non-verbally and verbally for understanding the said person’s attitude or mood. It is being widely utilized for gaining insights into how a customer perceives a product. Emotion analytics software helps organizations to come up with strategies that can enhance their customer relationship management. The software can be integrated with an enterprise’s data analytics, data collection, data visualization, and data classification initiatives.
Apart from customer experiences management, competitive intelligence, sales and marketing management, workforce management, and public safety & law enforcement are some other major applications of emotion analytics. A number of industries, such as retail, banking, financial services, & insurance, government, information technology & telecom, automotive, healthcare, and media & entertainment, are making use of emotion analytics for above-mentioned applications. The retail industry made the most use of emotion analytics in the past. As there is an availability of wide range of goods from several brands, customers are hesitant towards a particular brand, thereby making the industry highly challenging and dynamic. Because of this, retailers are using emotion analytics for meeting the requirements of their customers.
Attributed to the presence of large number of industries, expanding service industry, technological advancements, and large IT spending, North America has been the major user of emotion analytics in the past. Apart from this, Asia-Pacific (APAC) is expected to emerge as the fastest-growing emotion analytics market in the years to come. This is because of the growing service industry in emerging economies, including India and China, rising number of contact centers, and rapid digitization in the region.
Hence, the demand for emotion analytics is growing due to the rising focus on customer experience and engagement in companies.
