Understanding Sentiment Analysis: What is its uses and why it’s important?

November 21, 2017 2 min read By Cogito Tech. 992 views

Sentiment analysis is the process of determining the emotional tone behind a series of words, often used to perceive attitudes, opinions, and emotions expressed within an online mention. In a general way, it is the process to discover how people feel about a particular topic.

Uses of Sentiment Analysis

Social media is the most suitable platform where sentiment analysis is used to a large extent. Through social media sentiment analysis allows us to get an overview of the wider public opinions behind various topics. And if you use social media monitoring tools then the analysis process becomes faster and easier and it’s very much possible with real-time monitoring capabilities by the sentiment analysts.

Actually, the sentiment analysis applications are broader and more powerful in terms of linking human minds and their feelings. Organizations are adopting an effective practice to extract insights from social data and make it usable for improving their services.

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There are many examples in politics when leaders used sentiment analysis to estimate public opinion to announce favorable policies and campaigns before the elections. The ability to understand consumer sentiments and respond accordingly is crucial for any business.

Why Sentiment Analysis is Important?

Sentiment analysis is important because it helps to perceive what customers like and dislike about you, your actions or your product, services, or your brand, etc.

Customer feedback or product reviews given on social media platforms, or through your website or call center agents, or from any other sources holds lots of useful information for sentiment analysis. However, this would be not enough to know what exactly customers are talking about because you need to understand their feelings and sentiment analysis is the right way to uncover those hidden or unexpressed feelings.

Also known as “opinion mining,” sentiment analysis will help you to know if the public has changed the opinion towards any aspect of your business. This opinion mining instrument helps to score the sentiments and provide you the grounds to start if you want to make any improvements in products, services, or train customer agents, sales team, or need to create new market campaigns.

Sentiment analysis of product reviews by customers or feedback on your business regularly can be help understand the changing marketplace dynamics.

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Advantages of Sentiment Analysis

A comparative sentiment analysis score provides an insight into the efficiency of call center agents or customer support representatives. This opinion mining serves as a useful dimension to gauge the opinion of customers or people towards a particular company’s products or services.

When you compare the scores of sentiment analysis of different segments or divisions, you can easily identify the actual discomfort point or areas that need improvement while delivering the product or services to customers for maintaining the satisfaction between product lines and services.

If you regularly monitor attitudes and opinions about the products, services, or effectiveness of the customer support team consistently, then brands can easily detect delicate swings in opinions and adjust freely to meet the expectations and needs of their targeted audience.

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