Digital Strategies

Sentiment Analysis: What it is and Why it is Useful

Sentiment Analysis is the basis of the digital strategy to promote a brand and monitor Brand Awareness on the web, through the analysis of Social Networks and other online sources.

What is Sentiment Analysis

A definition of Sentiment Analysis? It is the activity of continuous monitoring of all web sources, news sites, blogs, reviews, posts and comments from the most popular Social Networks, to evaluate the contents related to a brand or a keyword. The monitoring of the web in real time is followed by automated semantic analysis. The data collected orient decision-making processes and contribute to marketing data driven strategy, crisis management and planning of interventions to protect Brand Reputation.

Why it is useful to do Sentiment Analysis

What do consumers think of a product? What is the reputation of a company? What is the buzz on the web in a time of crisis? The answer to these questions is in Sentiment Analysis. It allows to have complete and reliable data, practically in real time, related to content and opinions on the web, through the Opinion Mining activity. It is thus possible to proceed to a polarity classification, distinguishing contents in positive, neutral or negative with the help of algorithms.
Marketing managers will then have data on the liking of a product or a single promotion, while those responsible for Social Crisis Management will get concrete elements on which to design a suitable replica.
The analysis of online reputation replaces in fact methods of detection of sentiment through focus groups or surveys to monitor the liking of goods and services. These activities, carried out on a sample basis, are much less reliable in the results than web monitoring.

Sentiment Analysis applications

Through Sentiment Analysis tools it is possible to visualise on the platform the interactions with the Brand and obtain data and analysis, true indicators of reputation. It is therefore possible to monitor daily the reputation of a brand, but also that of a competitor company, for example. The advantages of Sentiment Analysis for a company are obvious: a single tool allows you to monitor the web, orienting communication and marketing choices based on user sentiment.
It is not only companies and publishing groups that perform Sentiment Analysis. Social Listening finds one of the most recent applications in the analysis of consensus in the political arena, relating to people, parties and political movements, the approval of a bill in the process of being enacted, or even electoral consultations. The possibility of strongly localising the analysis of Sentiment, allows to monitor the opinion of people living in regions, cities or individual neighbourhoods. The Sentiment Analysis tool thus becomes a software with predictive features.
In the commercial field, even the most well-known brands can monitor the web, in order to know the opinion of a nation’s inhabitants about a car model, thus assessing the propensity to buy and planning the commercial presence and appropriate data-driven marketing campaigns. Also in the financial products market, Sentiment Analysis makes it possible to assess what the inverters of a share or a banking product think. Finally, a Media Company will be able to obtain reports on the public’s satisfaction with a new TV series, a Talent Show, a TV programme or in the editorial field.

Tracx, the latest addition to Sentiment Analysis and Visual Mentions tools

To do Sentiment Analysis it is necessary to make use of particularly effective tools, able to carry out the analysis of texts and evaluate their polarity distinguishing between positive, neutral or negative elements for the Brand or the monitored keywords.
However, there are not many innovative tools, which are also capable of image recognition, an element that represents the real challenge in the future of Sentiment Analysis. This is the case of Tracx, a very powerful tool, able to add to the Text Mining activity also the analysis of Visual Mentions through the recognition of logos and products.
Tracx constantly analyses the web in depth, to obtain Sentiment analysis on keywords or products and services. Thanks to Machine Learning activities, the software perfects the web analysis in self-learning, providing very reliable results.
The case studies on the use of Tracx, in the government, corporate and banking sectors, show that the reports provided by the tool orient top managers in making decisions. Social Media managers can also identify the most popular content and create content to engage new audience segments, as well as to build loyalty and increase the engagement of existing clients. Tracx surveys promote a more contextualised Social management, which allows marketing professionals to increase ROI, strengthen and manage brand perception and provide a better customer experience.

How Tracx operates

Tracx searches, shows and processes an impressive amount of data from social networks – Facebook, Twitter, Youtube, Linkedin, Blogger, Flickr, Google+, WordPress etc. – as well as blogs, forums and e-commerce sites. The tool is web-based and offered in the form of SaaS, software as a service, and therefore requires no investment in IT infrastructure. The customisation of reports allows you to view individual posts or entire conversations, and create a sort of unique Brand identity, linking it to different social profiles.
Tracx is also a powerful social network management tool. So with a single online platform you can analyse the web, evaluate the interactions of posts made by internal or external social media managers and publish content on social profiles. Some functions can be automated, such as sharing content that meets certain parameters.
The monitoring of the textual Customer Care service is one of Tracx’s strong points, highlighting the quality of operators’ responses, but above all the sentiment of dissatisfied users and the types of faults or inefficiencies reported more frequently.

Tracx features

Tracx shows on a nice dashboard, easily customisable, and analyses data coming from the main Social Media and, potentially, from hundreds of thousands of sources. Among the most interesting functions there is the one that allows you to monitor the web in real time by applying filters that work on demographic characteristics, geography, polarity of sentiment, keywords, language and much more. In this way it is possible to monitor specific territories, even very small ones, useful to do Local Marketing to groups with numerous operative branches or shops.
Tracx identifies and verifies the activity of the Influencers, distinguishing them in favour and against and offers Competitive Analysis tools. The tool allows you to monitor the activity of competitors and analyse the sentiment of the reference audience. The software is in cloud computing, therefore accessible with a simple login, has excellent usability and offers a pleasant User Experience to those who use it. It is appreciated by companies such as The New York Times, Canon, Nestlé and many others.
Tracx data enables integration with Google Analytics, DataSift, SugarCRM, IBM Digital Analytics, Facebook Insights and other data analysis tools while the available APIs allow easy export of data from Tracx to third party systems.
Bytek Marketing uses Tracx for the analysis of customer sentiment and offers the tool, which is installed and customised according to the customer’s needs, be it a digital agency or a team of analysts working within a company. Bytek Marketing professionals are also responsible for training the resources that manage the platform, extremely powerful, able to guide the strategic choices of marketers, social media managers and customer service managers.

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Sentiment Analysis: What it is and Why it is Useful

bytek | 04 December 2017

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