Massachusetts Analytics developed a bespoke text analytics tool to help a client quantify, score, and analyze free response feedback comments relating to their satisfaction with their coverage.
A global consulting firm had years of unstructured, open response comments relating to fixed income dealers. The comments came from more than 20,000 survey respondents and related to the dealers’ overall coverage performance. The consulting firm needed an efficient tool to quantify and rank the open responses in a way that made them more interpretable and easily comparable from dealer to dealer.
A significant modeling challenge resulted from the broad use of technical jargon and market specific idioms used by survey respondents.
Massachusetts Analytics built a text analytics tool that scores relationship feedback comments in terms of overall sentiment. To accommodate the technical jargon used by survey respondents, Massachusetts drew upon years of financial markets experience and familiarity with the fixed income markets to develop a bespoke lexicon used in the analysis of the comments. Using the customized lexicon, the tool was found to be highly accurate when the model sentiment scores were compared against a manually constructed ground truth data set.
Using the proprietary text analytics tool, the client can compare comments, quantify the sentiment, and provide more actionable feedback to the dealers. In addition, the consulting firm is now able to efficiently incorporate the open response data into other evaluation metrics