Sentiment analysis is the interpretation and classification of emotions (positive, negative and neutral) within text data using text analysis techniques. ProfundCom‘s sentiment analysis tools allow ProFundCom’s clients to identify sentiment toward communications that are being sent out to investors and prospects.
Sentiment analysis is a machine learning technique that detects polarity (e.g. a positive or negative opinion) within text, whether a whole document, paragraph, sentence, or clause. Understanding people’s emotions is essential for businesses since customers can express their thoughts and feelings more openly than ever before. By automatically analyzing feedback, from survey responses to social media conversations to all outbound communications, firms can listen attentively to their investors and prospects, and tailor products and services to meet their needs.
Why Perform Sentiment Analysis?
It’s estimated that 80% of the world’s data is unstructured; in other words, it’s unorganized. Vast volumes of text data are created every day by marketing teams, but it’s hard to analyze, understand, and sort through, not to mention time-consuming and expensive. Sentiment analysis, however, helps businesses make sense of all this unstructured text by automatically tagging it.
Benefits of sentiment analysis include:
Real-Time Analysis Sentiment analysis can identify critical issues in real-time, in our case the communications to investors that strikes a negative chord.
Consistent criteria It is estimated that people only agree around 60-65% of the time when determining the sentiment of a particular text. Tagging text by sentiment is highly subjective, influenced by personal experiences, thoughts, and beliefs. By using a centralized sentiment analysis system, companies can apply the same criteria to all of their data, helping them improve accuracy and gain better insights.
Sentiment analysis can apply to countless aspects of business, from brand monitoring and product analytics to customer service to market research. By incorporating it into their existing systems and analytics, leading firms can work faster, with more accuracy, toward more useful ends.
Sentiment analysis has moved beyond merely a new, high-tech whim, and will soon become an indispensable tool for all companies of the modern age. Ultimately, sentiment analysis enables us to glean new insights, better understand our investors, and empower marketing teams more effectively so that they do better and more productive work.
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