Benefits of Sentiment Analysis
As human being we are a bundle of emotions and often times our decisions related to brands, products or services are a result of the same. We have both positive and negative outlook towards brands and as increasingly sentiments get filtered into the virtual world, it is imperative that organizations tap into this vast pool of consumer sentiment to tailor their products and services.
Sentiment analysis is therefore, the scientific understanding of the abstract emotions that consumers express through various channels – social media, blogs, consumer forums and so on. Given the vast reservoir of information currently generated every minute, this is obviously impossible to be done on a manual basis. Artificial intelligence and machine learning, therefore, is playing an increasing role in sentiment analysis.
As a paradigm, sentiment analysis is still finding its space in organization’s consumer understanding and predictive matrix. However, it is an increasingly important tool for brands to offer the right product at the right time and in the right manner. It is also a vital tool in customer servicing, as it helps understand consumer behavior patterns and therefore tailor responses accordingly.
