The world is changing. Technology is transforming the way we live, work and do business. One of the most interesting changes has been how businesses use sentiment Analytics to understand their customers and prospects better. Sentiment analysis has existed for decades, but it’s only recently that digital technology has allowed us to leverage this form of text analytics on a large scale.
Sentiment Analytics is an exciting new field in the world of analytics. It has changed how companies can interact with their customers, and it has made customer service more personal. Here is how it works and why it’s important for businesses to adopt this technology.
What is Sentiment analysis?
Sentiment analysis is a natural language processing that uses machine learning and computational linguistics to track, understand and respond to consumer sentiment.
This technology can be used across many different channels, including social media channels like Facebook and Twitter. It allows companies to identify where customers may have issues or problems with their service or product. If there is an issue, it will flag these comments for customer service to address them quickly before negative sentiments spread throughout other platforms on social media.
In addition, sentiment Analytics also helps businesses better serve their existing customers by sending targeted promotions based on how loyal a person has been over time, as well as if people are considering switching from
What makes sentiment analysis different?
Traditional customer service solutions were built around the transactions between people-to-people interactions within companies. While these systems work well in transactional environments, they aren’t as effective at dealing with consumers who want more personalized support from their brands or businesses. Sentiment Analytics allows marketers and business owners to collect data about what customers are saying online, both good and bad, which helps them improve their strategies in the future.
Interpretation of sentiment
Interpretation of sentiment analysis is an important part of the process. A machine doesn’t have a mind, so it can only track and respond to what is explicitly said or written about a specific topic.
Annotate the machines: For sentiment Analytics software to interpret meaning from text, companies must annotate documents with those sentiments in advance. Machines are trained on these annotations as well as how they work together across multiple sentences and contexts. This is where the training element of sentiment Analytics comes into play- the more the data is annotated, the better it can read and understand the sentiment.
Why should businesses use it?
Adopting this technology has several benefits that can help any company improve their customer service and satisfaction and better understand how to generate more revenue.
1) Sentiment analytics makes customer service more personal. Using sentiment Analytics, companies can better understand how customers and prospects feel about their business.
2) In addition to dealing with complaints quickly and efficiently, businesses are also able to identify trends within positive comments as well by using hashtags which helps them develop loyalty among their existing customers even further. Identifying what people love most about your brand is just one reason why sentiment Analytics is so important.
3) Marketing teams value understanding what customers are saying about them on social media platforms like Facebook and Twitter, both good and bad. The information they gather allows marketers to make adjustments to campaigns or promotions moving forward based on what people say online through text analytics which helps companies stay up-to-date with consumer preferences for brands.
4) Sentiment Analytics also provides business owners insights into who might be considering switching from one brand to another so they can retain those loyal customers by making changes before they make the switch.
Application of sentiment analysis
Companies can apply sentiment Analytics to both social media and customer service communications.
Social Media: This analysis helps companies understand what people are saying about them on social media channels like Facebook, Twitter, Instagram or any other platform where they may be active. This information allows business owners to develop campaigns that speak more directly to those consumers moving forward based on how loyal they have been over time and if people are considering switching from one brand to another.
Customer Service Communications: When it comes down to it, this technology makes customer service much more overall by allowing companies to respond quickly when people are complaining about them online, which also helps to resolve issues that might have prevented the sale in the first place.
While its use might be complex, sentiment Analytics is a powerful tool to help any business grow and reach its potential. Adopting this technology has some benefits that can help any company improve their customer service and satisfaction and better understand how to generate more revenue.