Sentiment data is unstructured data that represents opinions, emotions, and attitudes contained in sources such as social media posts, blogs, online product reviews, and customer support interactions.
3.5.2 Potential Uses of Sentiment Data
Organizations use sentiment analysis to understand how the public feels about something at a particular moment in time, and also to track how those opinions change over time.
An enterprise may analyze sentiment about:
- A product – For example, does the target segment understand and appreciate messaging around a product launch? What products do visitors tend to buy together, and what are they most likely to buy in the future?
- A service – For example, a hotel or restaurant can look into its locations with particularly strong or poor service.
- Competitors – In what areas do people see our company as better than (or weaker than) our competition?
- Reputation – What does the public really think about our company? Is our reputation positive or negative?
The benefits that this data offers are:
- Improves Customer Service:
It gives useful insights about current and future customers purchase preferences, brand affiliations, topics of interests, opinions, point of views on discussions, likes and dislikes in products/services and much more. This useful information lets organizations to drastically improve their customer service and engagement strategies by building on the positive sentiments and formulating methods to combat negative sentiments.
- Reviving Brand:
One of the best uses of this data is that it allows organizations to quantify perceptions – about their brand, products and services, marketing campaigns, social engagement initiatives, online content etc. Organizations can use this information for devising better and more effective branding and marketing strategies and thus improve your brand reputation.
- Beats Competition:
This data lets the organizations to know sentiments surrounding their competitors too. This allows to benchmark their performance against that of their competitors.
- Measure Effectiveness of Marketing Campaigns:
Analyze changes in sentiment relative to specific campaigns, audiences and social outlets, and can quickly identify positive talking points around the brand to measure, inform and evaluate marketing strategy.