Analysis and Application of Sentiment Analysis
Sentiment analysis is a technique used by brands and companies to analyze whether their customers’ opinions and feedback are positive, neutral, or negative. The analysis helps brands improve their services and decision-making to achieve customer satisfaction and maintain their reputation.
Example of sentiment analysis
Basic
- I like using the product.
- I hate the movie.
- The product does not taste well.
Complex sentiment analysis
- The movie is a cliché.
- I love the series, but I would not recommend it to my friends.
- The food tastes good, but it is so expensive.
- I love waiting for hours to be served [sarcastic].
Types of sentiment Analysis
Graded analysis
It includes different categories of how customers rate your products and services, for example, very positive, neutral, or very negative.
Intent based analysis
It recognizes what motive the customer has to write the text and their opinion.
Rule-based analysis
It helps identify the negative and positive words in a speech and analyze which dominates the other.
Aspect based analysis
It is an analysis where a company wants to know the specific features that a customer mentions positively or negatively.
Emotional detection analysis
It helps a company identify how customers feel about the product, that is, happy, excited, disappointed, or angry.
Application of sentiment analysis
It helps analyze data that companies gather and receive from different channels. Some of the standard data where analysis is applied are:
Survey responses
The analysis is applied to survey responses by monitoring how customers answer the questions. It helps the company to make sense of the responses so that they can rectify urgent issues.
Examples of the questions are whether the customer had a great experience using the product and recommended the product to his friends. The response to the question will let the company know how the customer feels about the product.
Analyzing customer feedback
Understanding how customers perceive your product and services is critical to your business. It will help you improve your products or change your services to enhance the customer experience in your company.
The analysis tools help you collect data on customer feedback so that you can fix problems with your products and services. It helps you identify posts where customers are frustrated with the product and prioritize them first.
Social media monitoring
Social media is a powerful tool for reaching out to your customers since most people have a social platform. Analysis tools help a company monitor public sentiments about their products across all social media platforms within a short period.
It helps a company identify a negative review that may arise before it escalates into a bigger problem to avoid the company from trending for the wrong reasons.
Monitoring brand reputation
Analysis helps you to track and monitor how customers perceive your brand. You can identify a crisis and anticipate the outcome, thus enabling you to be proactive.
Market research and competitors
Analysis helps companies to know emerging trends and to identify their competitors. It helps a company know why their customers love or hate their competitors; thus, it will help them better their products or fix them if needed.
Understanding and researching your market will help you identify new opportunities, making you be ahead of your competitors.
Analyzing customer experience
Analysis helps a company identify the impression a customer has about their products and services. It helps to monitor the company’s interaction with its customers to improve their relationship.
It also helps a company understand and know customers’ needs, values, and expectations of their products and services.
Conclusion
Sentiment analysis is an essential tool for understanding its customers and achieving customer satisfaction. It analyzes real-time data, improves trust between the company and its customers, and helps to process data faster.
. The analysis helps brands improve their services and decision-making to achieve customer satisfaction and maintain their reputation.
Example of sentiment analysis
Basic
- I like using the product.
- I hate the movie.
- The product does not taste well.
Complex sentiment analysis
- The movie is a cliché.
- I love the series, but I would not recommend it to my friends.
- The food tastes good, but it is so expensive.
- I love waiting for hours to be served [sarcastic].
Types of sentiment Analysis
Graded analysis
It includes different categories of how customers rate your products and services, for example, very positive, neutral, or very negative.
Intent based analysis
It recognizes what motive the customer has to write the text and their opinion.
Rule-based analysis
It helps identify the negative and positive words in a speech and analyze which dominates the other.
Aspect based analysis
It is an analysis where a company wants to know the specific features that a customer mentions positively or negatively.
Emotional detection analysis
It helps a company identify how customers feel about the product, that is, happy, excited, disappointed, or angry.
Application of sentiment analysis
It helps analyze data that companies gather and receive from different channels. Some of the standard data where analysis is applied are:
Survey responses
The analysis is applied to survey responses by monitoring how customers answer the questions. It helps the company to make sense of the responses so that they can rectify urgent issues.
Examples of the questions are whether the customer had a great experience using the product and recommended the product to his friends. The response to the question will let the company know how the customer feels about the product.
Analyzing customer feedback
Understanding how customers perceive your product and services is critical to your business. It will help you improve your products or change your services to enhance the customer experience in your company.
The analysis tools help you collect data on customer feedback so that you can fix problems with your products and services. It helps you identify posts where customers are frustrated with the product and prioritize them first.
Social media monitoring
Social media is a powerful tool for reaching out to your customers since most people have a social platform. Analysis tools help a company monitor public sentiments about their products across all social media platforms within a short period.
It helps a company identify a negative review that may arise before it escalates into a bigger problem to avoid the company from trending for the wrong reasons.
Monitoring brand reputation
Analysis helps you to track and monitor how customers perceive your brand. You can identify a crisis and anticipate the outcome, thus enabling you to be proactive.
Market research and competitors
Analysis helps companies to know emerging trends and to identify their competitors. It helps a company know why their customers love or hate their competitors; thus, it will help them better their products or fix them if needed.
Understanding and researching your market will help you identify new opportunities, making you be ahead of your competitors.
Analyzing customer experience
Analysis helps a company identify the impression a customer has about their products and services. It helps to monitor the company’s interaction with its customers to improve their relationship.
It also helps a company understand and know customers’ needs, values, and expectations of their products and services.
Conclusion
Sentiment analysis is an essential tool for understanding its customers and achieving customer satisfaction. It analyzes real-time data, improves trust between the company and its customers, and helps to process data faster.