What Does a Sentiment Analysis Company Do?
What Does a Sentiment Analysis Company Do?
Sentiment Analysis Company – There must have been times when you got a text from a friend or family member but could not decide if they were joking or not. It can get hard to understand the real intent of the message if you don’t know the feelings, intent, or emotions behind it. Grammar and punctuation help, but you cannot always communicate irony or sarcasm through text.
For businesses, it gets difficult when they cannot determine whether the customer feedback has positive or negative sentiment behind it. Customer service relies more on live chat and other text-based forms. Customers fail to give their opinion on a product or service properly through text, and the business cannot understand it without proper context.
Businesses need a platform to monitor customers’ feedback and gain actionable insights efficiently. This is where a sentiment analysis company can help businesses. We’ll learn what a sentiment analysis company does in this article and other things about them.
What is Sentiment Analysis?
Sentiment refers to the negativity or positivity behind a text, and sentiment analysis is used to determine if the emotion behind a spoken or written text is positive, neutral, or negative. It is important for a business as they can know how the customer feels about their services.
Sentiment analysis is a part of the text or opinion mining that determines the emotions behind customer reviews, surveys, social media, emails, news articles, press releases, etc.
Natural language processing plays a big role in this type of analysis. Big algorithm-based sentiment analysis companies can handle a huge amount of data and text, providing accurate analysis.
Importance of Sentiment Analysis
Sentiment analysis offers deeper insights into how customers perceive a business and think about its products and services. Customers can talk about their experience via email, website, social media, customer support conversations, polls, etc. It helps in understanding this feedback and their experience, demands, etc.
It also helps with opinion mining, where businesses can notice changes in customers’ opinions about their brand. Then, as valleys and peaks occur in sentiment analysis scores, businesses can train their sales team, customer support team, improve service and products, etc., to provide a better experience.
How Does a Sentiment Analysis Company Help?
Businesses should consider working with a sentiment analysis company as there are many benefits. It can get hard to track all this data together, and with the right approach and platforms, businesses can gain an edge over competitors.
Here is what this company does-
Social Media Monitoring – Analyzing Brand Sentiment
This analysis is vital for brand monitoring and managing its reputation. Consumers talk about their experience with products and services on social media, and analyzing their feedback is helpful for marketing strategies and product improvements.
- Track how customers feel about your business
- Automation of social media monitoring and its alert system
- Find trends and patterns in customers’ feelings towards the brand
- Determine specific details about customers’ attitudes and reviews
- Analyze reviews, mentions, responses, forums, blogs, etc. on social media platforms
Competitor Analysis and Market Research
Apart from brand reputation monitoring and exploring customer feedback, a sentiment analysis company also takes care of market research and competitor analysis. It is not primarily used for market research but offers plenty of insights about customers and their opinions.
- Gather data across various social platforms
- Analyze news articles, influencer content, competitor content, and user-generated content
- Get insights regarding various aspects of the business
- Get real-time results and improve business intelligence
This analysis helps with product analysis too. This works similarly to brand reputation monitoring, but instead, product mentions, reviews, and comments by customers are monitored. Remarks about the functioning of a product, its features, performance, user interface, etc., go a long way in making necessary improvements to the product.
Such analysis comes in handy during the initial stages when a product is new and you want to improvise it as much as possible. Customers talk about what they like in a product and what they don’t like.
Feedback Analysis – Customer Support
Another important application of such analysis is customer feedback analysis, which is done in several ways.
It helps get insights into how customers feel about your products. For example, you can determine general positive or negative perceptions towards the product or aspect-based elements of the product. Customers even talk about whether the service received was good or not.
Businesses can even automate processes based on customer intent analysis. The most common, routine queries can be solved with FAQs and basic product information. Further, it helps with customer prioritization and workflow management as well. Businesses can focus first on disgruntled customers before moving on to others.
Best Sentiment Analysis Tools
Here are some of the best sentiment analysis tools businesses can use-
VizRefra -Businesses can process big data and turn unstructured text data into useful data with VizRefra, a text analysis tool. The platform gives specialists machine learning and artificial intelligence (AI) technologies that facilitate language and statistical activities. It attempts to assist businesses in tracking consumer feedback like product ratings and reviews. Managers can make better decisions using the program to acquire enhanced insight into consumer behavior.
Rapidminer – This data science platform uses machine learning to build predictive models. Businesses can create and customize sentiment analysis models with Rapidminer without any code. This well-documented and intuitive platform is ideal for tackling challenging tasks.
Lexalytics – In operation since 2003, Lexalytics offers its Semantria cloud API and Salience solution that integrate with business workflows. It can be used to create customizable models adaptable for any business. It allows the creation of data visualizations and dashboards to gain more insights from customer data.
Sentiment Analyzer – An easy-to-use, free tool, Sentiment Analyzer scores from +100 to -100 to determine the feeling behind a text. You must copy and paste the text into this tool to check its sentiment score.
Repustate – Repustate’s API supports over 20 languages and provides practical insights from sentiment analysis data. It uses a combination of semantic and sentiment analysis to determine emotions expressed through hashtags, emojis, abbreviations, and slang language.
Lionbridge – Businesses that want to build their own sentiment analysis models using machine learning can use Lionbridge. It features contributors from all over the world that help in analyzing text in over 30 languages. Based on your business and its scope, you can customize this tool, upload data, and define the parameters you want in the analysis.
Sentiment analysis is a technology that can be incredibly useful for a business if they can use it properly.
Thankfully, businesses have a lot of sentiment analysis companies and tools to choose from nowadays. With these tools, businesses can use pre-trained models, customize them to their liking, or even create new ones for sentiment analysis. With this, a business can leverage data and get meaningful insights regarding what its customers feel and perceive about its brand.
If you’re looking for the best sentiment analysis tool, then VizRefra is your place to be! Business administrators can customize this software with capabilities that support business-focused tactics. Managers can use content management technologies to categorize data and carry out topic clustering tasks.