{"id":148,"date":"2023-05-08T07:10:25","date_gmt":"2023-05-08T07:10:25","guid":{"rendered":"https:\/\/www.intellisofttechnologies.com\/blog\/?p=148"},"modified":"2023-05-08T13:17:13","modified_gmt":"2023-05-08T13:17:13","slug":"why-sentiment-analysis-is-important-for-business-growth-in-2023","status":"publish","type":"post","link":"https:\/\/www.intellisofttechnologies.com\/blog\/2023\/05\/08\/why-sentiment-analysis-is-important-for-business-growth-in-2023\/","title":{"rendered":"Why Sentiment Analysis is Important for Business Growth in 2023?"},"content":{"rendered":"\n<p class=\"has-medium-font-size\"><strong>Contents<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#one\">What is sentiment analysis?<\/a><\/li>\n\n\n\n<li><a href=\"#two\">Sentiment analysis challenges<\/a><\/li>\n\n\n\n<li><a href=\"#three\">Why is sentiment analysis important?<\/a><\/li>\n\n\n\n<li><a href=\"#four\">How does sentiment analysis benefit businesses?<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"has-black-color has-text-color\">We consume data in every possible way. That\u2019s a fact, and here\u2019s another one: there\u2019s no turning back.&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Whatever we do\u2014from shopping to swiping, blogging to commenting, sharing to subscribing\u2014we leave a trail behind. Now, this trail of information (Big Data!) has revolutionised how businesses make predictive choices.&nbsp;<\/p>\n\n\n\n<p class=\"has-vivid-red-color has-text-color\"><em>Sentiment analysis takes it up a notch by making sense of all the &#8220;noise&#8221;<\/em>! <\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\" id=\"Intellisofttechnologies_sentiment-analysis-\"><img data-dominant-color=\"dadfee\" data-has-transparency=\"false\" style=\"--dominant-color: #dadfee;\" decoding=\"async\" src=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector-1024x916.png\" alt=\"What is Sentiment analysis?\" class=\"not-transparent wp-image-191\" width=\"512\" height=\"458\" title=\"Social media sentiment analysis \" srcset=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector-1024x916.png 1024w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector-300x268.png 300w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector-768x687.png 768w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector-1536x1375.png 1536w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector-600x537.png 600w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/sentiment-analysis-vector.png 1999w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\"><em><sub>Image by Freepik<\/sub><\/em><\/figcaption><\/figure>\n<\/div><\/div><\/div>\n\n\n\n<h1 class=\"wp-block-heading has-large-font-size\" id=\"one\">What Is Sentiment Analysis, Anyway?&nbsp;<\/h1>\n\n\n\n<p class=\"has-black-color has-text-color\">Conversations are not mere verbal exchanges. They are more about interpreting what is being said than merely listening. This is exactly what sentiment analysis seeks to highlight: the difference between what people say and what they actually mean.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Sentiment analysis, also known as Opinion Mining, is a machine learning and natural language processing (NLP) task centered around deducing subjective qualities (such as emotions, opinions, attitudes, tone, sarcasm, etc.) from the text.&nbsp;<\/p>\n\n\n\n<p class=\"has-white-color has-vivid-red-background-color has-text-color has-background has-medium-font-size\">Sentiment analysis is used to determine whether opinions, emotions, attitudes, and perceptions about a product, business, or brand are positive, negative, or neutral.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Sentiment analysis can help you understand your audience better. This technology collects, monitors, and analyzes opinions about products and business services via<em> online mentions (blogs, comments, discussions, feedback, etc.) across channels in real-time.<\/em> <\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-medium-font-size\"><strong>That&#8217;s why Big Data and Sentiment Analysis is the &#8220;Dream Team&#8221; every business should leverage for a better ROI in 2023!<\/strong><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>As per, Jonathan Schmidt, Sr Principal, Advisory in the <a href=\"https:\/\/www.gartner.com\/en\/newsroom\/press-releases\/2023-01-09-gartner-survey-finds-customer-data-and-analytics-as-top-priority-for-achieving-customer-service-and-support-goals-in-2023\" target=\"_blank\" rel=\"noopener\" title=\"\">Gartner<\/a> Customer Service &amp; Support practice- \u201cUnderstanding customers\u2019 needs and expectations for their service experience is integral for improving loyalty and creating customer value, especially when organizations are up against economic headwinds. Executing on this vision requires investment in customer data and analytics, knowledge management, and an enduring partnership with IT.\u201d&nbsp;<\/p>\n<\/blockquote>\n\n\n\n<h4 class=\"wp-block-heading has-medium-font-size\" style=\"font-style:normal;font-weight:400\">But sentiment analysis is far from hitting the bull\u2019s eye in offering accurate insights all the time.<\/h4>\n\n\n\n<p class=\"has-black-color has-text-color\" id=\"two\"><span style=\"text-decoration: underline;\">Read on to find out: Why sentiment analysis is difficult<\/span>?<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Well, it took approximately 2 million years for human speech to evolve; even the machine can\u2019t beat that.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Another important thing is the absence of emotions, which makes sentiment analysis one of the most challenging areas of AI. Grammar, the figures of speech, accents, slang, and the overall complexities of human language make sentiment interpretation a daunting task.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Subjectivity is yet another obstacle. For instance, the word <em>&#8220;cool&#8221;. <\/em>It means moderately cold\u2014<em>what a cool evening. <\/em>But it is also used as slang to compliment or describe something as awesome or good\u2014<em>that outfit is so cool<\/em>. Alternatively, &#8220;cool&#8221; can also be used casually to show approval: &#8220;<em>Okay, cool.&#8221; <\/em>To understand and interpret all the sentiments and varying usages, the machine needs to learn context and intentions.<\/p>\n\n\n\n<p class=\"has-text-align-left has-vivid-red-color has-text-color\">Irony, humour, sarcasm, and scepticism\u2014there\u2019s a lot of learning left for the machine. After all, they aren\u2019t really known for their wits!<\/p>\n\n\n<div class=\"wp-block-image is-style-default\">\n<figure class=\"alignright size-full is-resized\"><img data-dominant-color=\"5e8499\" data-has-transparency=\"false\" style=\"--dominant-color: #5e8499;\" decoding=\"async\" src=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4.webp\" alt=\"sentimentanalysis\" class=\"not-transparent wp-image-162\" width=\"278\" height=\"278\" title=\"Sentiment_Analysis\" srcset=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4.webp 1024w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4-300x300.webp 300w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4-150x150.webp 150w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4-768x768.webp 768w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4-600x600.webp 600w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/04\/742dba7c-b388-492f-b45a-d5fda49070d4-800x800.webp 800w\" sizes=\"(max-width: 278px) 100vw, 278px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>When sentiment analysis is so flawed, why do we even need it?\u00a0<\/strong><\/p>\n\n\n\n<p class=\"has-vivid-red-color has-text-color has-large-font-size\" id=\"three\"><strong>Why is sentiment analysis important?&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Despite its flaws and challenges, sentiment analysis has achieved significant implications in the modern technology sphere; Social Media is the best example!<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Customer satisfaction is undoubtedly the foundational essence of any thriving business. With digitalization and growing competition, customer opinions have become more powerful. In such a scenario, social media sentiment analysis is a boon. It can help you enormously with efficient targeting and better brand management.<\/p>\n\n\n\n<p class=\"has-white-color has-vivid-red-background-color has-text-color has-background\"><strong>Sentiment analysis technology can help your business grow by telling you what customers like or dislike about your services, products, and brand in general. &nbsp;<\/strong><\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">It filters out the noise and helps you hear customer voices (which sometimes might get lost because they are not active commenters, but now that they are typing, listening has become much easier!). This sentiment analysis feature offers a balanced and comprehensive analysis of your audience\u2019s opinions and sentiments concerning your business and products in real-time.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\" id=\"SntimentAnalysis_Impact_Intellisofttechnologies\"><img data-dominant-color=\"dfd1c5\" data-has-transparency=\"false\" style=\"--dominant-color: #dfd1c5;\" decoding=\"async\" src=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-1024x566.webp\" alt=\"Benefits of Sentiment Analysis for business growth\" class=\"not-transparent wp-image-188\" width=\"768\" height=\"425\" title=\"Benefits of Sentiment Analysis \" srcset=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-1024x566.webp 1024w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-300x166.webp 300w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-768x424.webp 768w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-1536x849.webp 1536w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-2048x1132.webp 2048w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sntimentanalysis_businessimpact-600x332.webp 600w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><figcaption class=\"wp-element-caption\"><sub>Image by Freepik<\/sub><\/figcaption><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-vivid-red-color has-text-color has-large-font-size\" id=\"four\"><strong>Marketing Evolution in 2023<\/strong><\/h4>\n\n\n\n<p class=\"has-black-color has-text-color\">If you look at the shift in marketing, you will notice that gone are the days when marketers could manipulate how a product was perceived. Now, it is more about what the customers or audience want.&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Audience opinions have become pivotal. And that\u2019s where the dream team\u2014big data and sentiment analysis- makes its mark.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">This duo can help you offer unmatched personalised brand experiences, resulting in increased revenue, an engaged customer base, reduced costs, minimised risks, keeping an eye on competitors, and seizing better business opportunities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-vivid-red-color has-text-color has-medium-font-size\" style=\"font-style:normal;font-weight:800\"><strong>Discussion<\/strong><\/h3>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\" id=\"bigdata-IntellisoftTechnologies\"><img data-dominant-color=\"a1cde9\" data-has-transparency=\"false\" style=\"--dominant-color: #a1cde9;\" decoding=\"async\" src=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-1024x576.webp\" alt=\"How are AI and social media impacting businesses? \" class=\"not-transparent wp-image-187\" width=\"768\" height=\"432\" title=\"AI and Social Media for businesses\" srcset=\"https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-1024x576.webp 1024w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-300x169.webp 300w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-768x432.webp 768w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-1536x864.webp 1536w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-2048x1152.webp 2048w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-1280x720.webp 1280w, https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/big_data-and-AI-600x338.webp 600w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><figcaption class=\"wp-element-caption\"><em><sub> Image by Freepik<\/sub><\/em><\/figcaption><\/figure>\n<\/div><\/div><\/div>\n\n\n\n<p class=\"has-black-color has-text-color\"><strong>Big data and social media<\/strong> are no longer mere luxuries. This team is becoming a foundational necessity for making informed predictions or decisions. All because of the ever-increasing social media usage, resulting in massive data generation.&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">Website rankings, social media monitoring, online traffic analytics, etc., are some top big data and social media metrics that are becoming popular amongst businesses worldwide.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\">The catch here is the real-time feedback. It is the ultimate wealth of any business.&nbsp;<\/p>\n\n\n\n<p class=\"has-black-color has-text-color\"><em>But big data and sentiment analysis cannot guarantee success unless you are willing to listen!&nbsp;<\/em><\/p>\n\n\n\n<p class=\"has-black-color has-text-color\"><em>What is your take on this? Tell us in the comments below. <\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>If you are ready to leverage sentiment analysis to improve your brand\u2019s value online, <a href=\"https:\/\/www.intellisofttechnologies.com\/Contact.shtml\" target=\"_blank\" rel=\"noopener\" title=\"get in touch\"><span style=\"text-decoration: underline;\"><strong>get in touch<\/strong><\/span><\/a> with our experts today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We consume data in every possible way. That\u2019s a fact, and here\u2019s another one: there\u2019s no turning back.\u00a0<\/p>\n<p>Whatever we do\u2014from shopping to swiping, blogging to commenting, sharing to subscribing\u2014we leave a trail behind. Now, this trail of information (Big Data!) has revolutionised how businesses make predictive choices.\u00a0<\/p>\n<p>Sentiment analysis takes it up a notch by making sense of all the &#8220;noise&#8221;!<\/p>\n","protected":false},"author":1,"featured_media":202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[6,10,8,12],"class_list":["post-148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-machine-learning","tag-ai","tag-nlp","tag-sentiment-analysis","tag-technology-for-business"],"aioseo_notices":[],"featured_media_urls":{"thumbnail":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-e1683551521900-150x150.webp",150,150,true],"medium":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-e1683551521900-300x300.webp",300,300,true],"medium_large":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-768x768.webp",640,640,true],"large":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-1024x1024.webp",640,640,true],"1536x1536":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-1536x1536.webp",1536,1536,true],"2048x2048":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-e1683551521900.webp",430,430,false],"blogus-slider-full":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-1280x720.webp",1280,720,true],"blogus-featured":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-1024x1024.webp",1024,1024,true],"blogus-medium":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-e1683551521900-430x380.webp",430,380,true],"portfolio_item-thumbnail":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-e1683551521900-430x400.webp",430,400,true],"portfolio_item-masonry":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-600x600.webp",600,600,true],"portfolio_item-thumbnail_cinema":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-e1683551521900-430x335.webp",430,335,true],"portfolio_item-thumbnail_portrait":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-600x900.webp",600,900,true],"portfolio_item-thumbnail_square":["https:\/\/www.intellisofttechnologies.com\/blog\/wp-content\/uploads\/2023\/05\/Sentiment_Analysis-800x800.webp",800,800,true]},"_links":{"self":[{"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/posts\/148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/comments?post=148"}],"version-history":[{"count":39,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/posts\/148\/revisions"}],"predecessor-version":[{"id":209,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/posts\/148\/revisions\/209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/media\/202"}],"wp:attachment":[{"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/media?parent=148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/categories?post=148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intellisofttechnologies.com\/blog\/wp-json\/wp\/v2\/tags?post=148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}