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Who Benefits from Sentiment Analysis?
Posted on January 23rd 2013
Considering the number of social media resources people can find on the internet, one can truly say that sentiment analysis has recently gone big. If you will try to put the search term sentiment analysis on Google Trends, you’ll see a vast growth from September 2006 up to the present. You’ll even see how Google forecasts the trend and still see a good growth fluctuation from it. This just means how many have become engrossed with its entire concept and how it blasted off in this generation.
Screenshot of Sentiment Analysis Trend
Courtesy of Google
Most companies generally obtain a lot of advantages from it these days, but individuals can actually do too. The process of sentiment analysis involves text analytics, linguistics and accepted language processing to determine and dig subjective information from source materials. It is commonly known for the term “opinion mining.” This process aims to determine how a certain person or group reacts to a topic they are being referred to. They react because they are either interested or involved. And, these reactions go to none other than their social media accounts which makes social media as one of the leading platforms in the internet where anyone can basically do sentiment analysis. Twitter and Facebook are two of the places where one can find a lot of sentiments and they are the best considerations whenever opinion mining is done.
Companies mostly benefit from sentiment analysis today. Some refer to it as social media analysis as well, since it also typically analyzes the ongoing activities on major social networking sites. This article from Sentiment Metrics discusses the major benefits a company can get from doing sentiment analysis. The key points show that businesses can solely track positive and negative reviews of their brands. With that being said, it also helps them measure their overall performance, especially on their online presence. Considering the many benefits discussed in the article, companies see sentiment analysis as a major aid in measuring sales and improving their marketing strategies as well. To accomplish this, some companies develop their own tools and others rely on outsourcing companies that specialize in sentiment analysis.
On the other hand, certain individuals can also get a lot from sentiment analysis, whether they are making a brand for themselves or just having that drive to know anything that regards to them. Artists, celebrities, famous authors and all other popular individuals can definitely benefit from the idea of sentiment analysis. They can simply know how they inspire the common public, how people react (negatively and positively) to any recent move they make and which of it triggers people’s attitude towards them. An ordinary person, say a fanatic or blogger, can also benefit from sentiment analysis. There are many free sentiment tools available on the internet such as the Sentiment140 which helps a user find and learn Twitter sentiments.
Let’s take into account how companies emerge one by one and how the rate of their market growth also increases today because the future of sentiment analysis depends on it.