The necessity for Sentiment analysis for social media

By Rajeev Pandey, 3rd Eye Advisory®
The necessity for Sentiment analysis for social media

What is Sentiment Analysis?

Sentiment analysis is the process of computationally identifying and categorizing opinions expressed in a piece of text, especially in order to determine whether the writer's attitude towards a particular topic, product, etc. is positive, negative, or neutral.Sentiment analysis, also known as opinion mining, is the analysis of the feelings (i.e. attitudes, emotions and opinions) behind the words using natural language processing tools. It's looking beyond the number of Likes, Shares or Comments you get on an ad campaign, product release, blog post, and video to understand how people are responding to it. Was the review positive? Negative? Ideologically biased?

Necessity for Sentiment Analysis for Social Media

Simply put, for the purposes of social media, it is the process of determining the author's opinion conveyed in a post.

Social media sentiment analysis can be an excellent source of information and can provide insights that can:

  • Determine marketing strategy
  • Improve campaign success
  • Improve product messaging
  • Improve customer service
  • Test business KPIs
  • Generate leads

Types of Sentiment Analysis

  1. Manual Processing-
    Human interpretation of sentiment is definitely the most mature and accurate judge of sentiment. However, it still isn't 100% accurate. Very few vendors still use this process without the additional use of a tool. This is due to the prolific growth of social media.
  2. Keyword Processing-
    Keyword processing algorithms assign a degree of positivity or negativity to an individual word, then it gives and overall percentage score to the post. For example, positive words, great, like, love or negative words: terrible, dislike. The advantages of this method are that it is very fast, predictable and cheap to implement and run.
  3. Natural Language Processing-
    NLP refers to computer systems that process human language in terms of its meaning. NLP understands that several words make a phrase, several phrases make a sentence and, ultimately, sentences convey ideas. NLP works by analyzing language for its meaning.

Our experts can assist you to find the right technology for your sentiment analysis requirements as well as provide reporting services focusing on sentiment analysis. They suggest the following tools that can be used to track user sentiments:

  1. Google Alerts:
    A simple and very useful way to monitor your search queries. I use it to track "content marketing" and get regular email updates on the latest relevant Google results. This is a good starting point for tracking influencers, trends and competitors.
  2. People Browser:
    Find all the mentions of your brand, industry and competitors and analyze sentiment. This tool allows you to compare the volume of mentions before, during and after your marketing campaigns
  3. Google Analytics:
    A powerful tool for discovering which channels influenced your subscribers and buyers. Create custom reports, annotations to keep uninterrupted records of your marketing and web design actions, as well as advanced segments to breakdown visitor data and gain valuable insights on their online experiences.
  4. Tweetstats:
    This is a fun, free tool that allows you to graph your Twitter stats. Simply enter your Twitter handle and "let the magic happen."
  5. Facebook Insights:
    If you have more than 30 Likes on your Facebook Page you can start measuring its performance with Insights. See total page Likes, number of fans, daily active users, new Likes/Unlikes, Like sources, demographics, page views and unique page views, tab views, external referrers, media consumption and more!

What does the future hold for sentiment analysis?

  • We can assume that the future of sentiment analysis will plug the existing gaps in being able to interpret meaning.
  • Increased accuracy when compared to human processing
  • The ability to interpret human emotions: according to research by Glasgow University. there are six basic emotions of happiness, sadness, fear, anger, surprise and disgust.
  • Predictive analytics - once we have extracted sentiment and believe it to be accurate we can then predict future trends and behavior.

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Article by: Rajeev Pandey, 3rd Eye Advisory®
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