How Sentiment Analysis can Benefit Enterprises?

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If someone is talking about you, would you like to know their views? For businesses, it becomes crucial to get the feedback and know what customers are saying about their brand. In addition, it becomes necessary to track whether the feedbacks shared are positive or negative. Sentiment Analysis helps with this. With new technologies and algorithms that automatically collect, index, and analyze customers’ opinions about a brand and its products or services, sentiment analysis has never been easier. Here comes the Natural Language Processing Tools. Natural Language processing tools helps to track the sentiments or emotions behind the words said in form of comments. Please scroll down to learn more about one of the latest ways for understanding your customers and finding out how to get it implemented to your brand.

What is Sentiment Analysis?

Sentiment Analysis or Opinion Mining is deriving the sentiments like attitudes, emotions and opinions behind the words using natural language processing tools. It is not restricted to looking upon the number of Likes, Shares or comments that you receive as response on an ad campaign, product release, video, blog or any of the postings and updates that you do. This makes you understand how people are responding to it? Was the review positive? Sarcastic? Negative or completely biased? This allows to track sentiments that helps you to understand what an individual behind a social media post is feeling. Being able to understand the complexity of emotional responses allows to govern that if the social and content marketing strategies initiated are driving the same actions as per the marketing plan.

The Rise of Social Media—and Sentiment Analysis

Social media and consumer review platforms have transformed the way consumers communicate. Feedback—whether companies are listening—is available in seconds. Customers’ voices and opinions are available immediately and are definitely considered by other consumers in social media. Brands may get lost in the bulk of consumer data but somewhere down the line companies which gets the best benefits are those who invest for wading through this data.

Why Social Media Sentiment Important?

Sentiment analysis is an investment for enterprises to build their brand, attract new customers, better serve existing clients, and forge more meaningful connections with other key audiences in the social networking world. Insights from sentiment analysis provides businesses the capability to make better decisions and boost their revenue growth. Below are some major benefits that enterprises get through Sentiment Analysis:

  • Provides Audience Insight

Sentiment Analysis helps to get audiences insights regarding the brand. Secondly, any negligence via staff or company comes in notice through the insights and complaints. Apart from this, a feedback regarding any product also or service also helps the brand to improve in future productions.

  • Supports Customer Service

Monitoring sentiment is a beneficial tactic for customer service and support representatives. This also offers an opportunity to turn a bad customer experience into a positive one. In addition, the feedback provided helps the brands to improve their customer service support.

  • Predictive Analysis

Using the data via Social Media and more over open-source information, companies are able to identify patterns in customers’ behavior and responses. Having pre-launch product feedback helps to get an idea of customer’s response that helps the companies to introduce productive marketing strategies.

  • Brand Management

The capability to track trends among brands of similar sectors or may be in completely dissimilar markets in real-time is an extremely influential tool to drive brand strategy. At the same time, measuring how different brands relate to the sentiments or feelings of their target audience and customers is an important information for scheming winning marketing strategies.

Best-Practices to fetch Sentiment Data

The best approaches includes data from a diverse set of data resources and add customer sentiment data to it. In addition, information that includes geo-location data, customer-preference analysis, and market-trending information based on contextual text analytics in combination together provide an understanding of market dynamics. Twitter SentiMiner by Lumata Digital India Private Limited is a sentiment analysis tool that provides complete analysis of the customer’s feedback or review. This is one of the best tools available. This tool provides you a complete info-graph of the overall responses, the source of the feedback like whether the comment has been posted using android, IOS or any other source. In addition, it also provides genre of the comment i.e sentiment like neutral, positive or negative for each and every comment or post along with exact date and time. Lumata provides sentiment analysis solutions for all the social networking platforms in built with all the latest and advanced features that can help you take your business to next level.

Smart companies are recognizing the potential of the insights that sentiment analysis can deliver. When will you be becoming even smarter? Get a sentiment analysis tool today. Reach out Lumata for the best of customized solutions for sentiment analysis…! After all, it’s all about your business. Think smartly.

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