In the past years, analyzing and monitoring the sentiment of a person in all conversations that takes place on blogs, forums, and social media about your products or services was a dream for every organization. This dream has become a reality now. Thanks to new smart technologies!
Artificial Intelligence paves way for sentimental analysis which makes use of Natural Language Processing, text analysis, and biometrics to determine, predict, and study the subjective information. Sentiment Analysis is widely applied to Voice Of Customer (VOC) like reviews, responses, on social media for various applications that include from marketing to customer service.
Sentiment analysis tool analyzes each kind of text that are expressed online and decides whether the sentence is positive (+), negative (-) or neutral(0) sentiment. Thus the sentiment analysis can be done through automation.
The sentiment analysis approaches using artificial intelligence and AI are broadly classified into 3 categories based on the level of human and machine interaction.
Rule-based approach - This approach relies on manually defined rules in a scripted language that integrates Natural Language Processing techniques.
Automatic response based on Neural Networks, which build upon machine-learning techniques.
Hybrid Sentiment Analysis algorithm - combines the elements of the above two approaches. Sentiment Analysis uses a hybrid approach that ensures the accuracy of the data provided.
Artificial Intelligence optimizes the sentiment analysis by making sense of unstructured information and natural language processing. Because of its vast applications of AI and sentimental analysis, companies can manage a large amount of data, understand the vision shared by customers to discover the customer requirements, purpose and preferences.
With sentiment analysis, Organizations can predict the opinions of users and can measure the customer's reviews found in web pages, review sites, forums, etc. Sentiment analysis provides crucial value from the extraction of online feedback and comments for those companies who want to know the opinion of their users on how they feel.
8. Retail and many more..
Now let’s have a look at how implementing the sentiment analysis will benefit your business.
1. Today, social media are covering a huge part of everyone’s life and they became a platform of communication for everyone. Business is effectively using these media for listening and monitoring their customers. It is significant for any business to leverage sentiment analysis to understand the customer needs and to solve many business problems some of which are as below,
2. With more advanced technologies and algorithms, SA can easily detect and analyze the customers more effectively which in turn used to determine a customer’s sentiment towards a brand or service. This helps the businesses to determine their strengths and weaknesses.
3. SA helps the organizations to formulate effective business strategies that come up with effective marketing campaigns. The actual ROI of marketing campaigns can be estimated by figuring out the positive and negative opinions and discussions among customers.
4. The quality of the product will also increase. New innovative ideas for the improvement of the product can be obtained from the customers. It can help to establish opportunities for up-selling, reduce customer difficulties, increase customer acquisition, improve customer retention.
5. SA opens a whole new way for customer engagement and reputation management. Brand reputation and brand awareness will be created by monitoring the customer sentiment in a real-time basis. It also helps in predicting business problems before they start raising.
6. Sentiment analysis will also help to identify new business opportunities. Specific messages/ texts of the customers can be keenly monitored to effectively generate new leads.
7. Competitors performances can also be determined by monitoring the competing brands of your products.
8. Sentiment analysis is not only limited to consumer likes, tweets and posts on social media but also for other platforms like blogs can also be analyzed.
9. From giving the best service to the customers to marketing, Sentiment Analysis can improve everything. It has proven to be a valuable opportunity for your businesses to grow.
10. Thus SA has become the gateway to analyze the consumer needs, extending customer base and expectations. It helps to point out the problems in your business and give solutions effectively.
One of the example is Uber, the ride-hailing giant located in 173 countries, uses artificial intelligence to understand the public’s sentiment toward the brand through the social data that created about it every day.
Is your business taking advantage of sentiment analysis or If you are seeking to apply sentiment analysis to your own customer feedback? With the growing number of solution providers and service providers, We can guide you with all possibilities of integrating AI based sentiment analysis to your product/ business.
AI-Techervices is leading in providing high-class AI-powered sentiment analysis services for all types of industries across the world. Our sentiment analysis services will ensure the clearcut view of customer’s perception towards your business product/ service. As a whole, we not only help your business to detect the customer’s experience but also enable the company/ organizations to improve their performance with sentiment analysis.
Reach us here any time to get perfect business discussion and real-time solutions in AI.!