You may have heard of the process of opinion mining, whereby data is collected solely to understand a target audience’s view of a company’s product and services. If not, then you’ll probably be surprised to hear that this is indeed something that can be achieved thanks to the advancements in artificial intelligence. With so many tools and processes available to professionals, why would it be so important to mine a customer’s opinion as well as their buying habits and interests?
The answer can be found within sentiment analysis’ effective approach in gauging public opinion, helped very much in part to how social media is integrated into society and has no signs of waning. What if there was a way to take what people said in popular online forums and social sites and use them to help improve and personalise a product? More specifically, how can we take a negative or positive public opinion and make actual change from it? This is why sentiment analysis has become a useful solution.
Sentiment Analysis for Change
Within a sales and marketing outlook, the process of opinion mining is extremely useful. The ability to see not just see what your clients/customers are saying about your own products and services, but also what they are saying about your competitors can’t be understated. A company can see quickly what is being said in real-time, meaning they can react quickly to implement changes if need be, especially if a negative opinion is spreading about a product or service. The way to look at is customer feedback, but much more organic and reactive, meaning the more companies use it, the more advantaged they are.
Much like the sophisticated, machine-learning artificial intelligence used in our EngageIQ platform, we understand exactly how beneficial and vital it is to be one step ahead of your competitors. Providing your sales and marketing team with an advantage should be at the top of your goals when strategizing, with sentiment analysis quickly becoming another key ally in your toolbelt. Effective opinion mining alongside a sales platform like EngageIQ will allow your team to be best placed for prospecting efficiently and help to focus on key areas with ease.
Humans vs AI
Like any automated process, the human element is still very much needed to effectively use sentiment analysis. For AI to read and process human language perfectly, it ultimately will need to understand the various different tonations and nuances present, such as if it attempts to read a sarcastic comment, for example: “I’m so happy my alarm app didn’t wake me this morning!” Where we would interpret sarcasm quickly, AI may need more time to do so and only pick out the positive ‘happy’.
With time, this will become very easy for a machine to pick up and with a reported 80% of the world’s data not structured, you can see why there is a need for sentiment analysis processes to learn quickly and develop further. Hopefully, in a few years we will all be looking back and wondering how we ever lived without it.