Recent years have seen rapid developments in automated text analysis methods focused on measuring psychological and demographic properties. While this development has mainly been driven by computer scientists and computational linguists, such methods can be of great value for social scientists in general, and for psychologists in particular. In this paper, we review some of the most popular approaches to automated text analysis from the perspective of social scientists, and give examples of their applications in different theoretical domains. After describing some of the pros and cons of these methods, we speculate about future methodological developments, and how they might change social sciences. We conclude that, despite the fact that current methods have many disadvantages and pitfalls compared to more traditional methods of data collection, the constant increase of computational power and the wide availability of textual data will inevitably make automated text analysis a common tool for psychologists.