14 Key Insights An Advanced Sentiment Analysis Software Shares
A sentiment analysis software uses AI and machine learning to analyze text, audio, and video conversations to identify the tone, intent, and emotion behind every message. While a regular sentiment analysis platform will give the aggregate score of the emotion around a product or a brand, an advanced sentiment analysis solution offers much deeper insights that have a genuine effect on your action plan for growth. In this article, we check out the 14 key insights that such a sentiment analysis software shares.
What Is Sentiment Analysis?
Sentiment analysis is the method of understanding feelings expressed in data through machine learning tasks such as text analysis, video content analysis, natural language processing, semantic clustering, and others. A sentiment analysis software gives organizations data-driven insights to understand current market trends, predict new consumer trends, gaps in customer engagement, product and service improvement ideas, as well as insights to enhance employee experience.
What Are The Advanced Features Of A Sentiment Analysis Platform?
A sentiment analysis dashboard can give a business very granular insights from the data it processes. To do so, it uses several of its advanced features, such as those below:
1. Ability to choose industry-based aspects (& create customer aspect)
The accuracy of the insights you get from any machine learning platform comes from its named entity recognition (NER) capability. NER makes sure that every entity (person, organization, logo, place, currency, etc.) that is relevant to your industry is extracted for semantic and sentiment analysis.
Each industry has its own aspects, such as a restaurant will have its own aspects (food, drinks, ambiance, price, customer service, etc), while a bank will have aspects pertaining to its industry (salary, money, deposit, withdrawal, etc.). An advanced sentiment analysis platform will not only allow you to choose industry aspects based on your industry but also custom-create aspects that are niche and unique to you.
2. Ability to evaluate multiple social media sources
An advanced sentiment analysis software will allow you to collect and analyze data from a variety of sources, both text-based as well as video-centric. This includes social media platforms as well as other online platforms for product reviews. For example, the Repustate sentiment analysis platform, Repustate IQ, is capable of analyzing data from such sources as TikTok, Douyin, Amazon Reviews, Instagram, Facebook, Twitter, and others.
3. Ability to analyze video content
In order to gain a thorough understanding of your customer base and the market perception of your product and brand, you need to gather as much information as possible. The more varied the data sources the better.
In this regard, it is very important that the sentiment analysis software is able to extract findings from video content as well. Video AI allows you to get insights from YouTube video analysis or obtain TikTok insights as easily as you would get from any text-based source such as Twitter, TrustPilot, or a news website.
4. Ability to analyze multiple languages
You can gather customer and employee insights in various languages with a sentiment analysis tool. But the problem with most such platforms is that they offer multilingual analysis based on translations. A truly advanced sentiment analysis platform will process and analyze data in multiple languages by using a speech tagger for each language separately.
Repustate boasts this functionality as one of the only platforms to do so in 23 languages that include German, Korean, Russian, Hebrew, Arabic in 3 different dialects, Chinese, and others. This capability is present even in its video content analysis feature, meaning that the platform can extract insights not just from text but also from video and audio data.
5. Ability to create custom models, entities & adjust sentiment score
Another sophisticated advantage a truly advanced sentiment analysis software gives you is to create custom models for your need, thus allowing you to adjust your entities to increase, decrease, or change them. It allows you to see insights from data filtered by custom filters. For example, in an employee setting, it could allow you to search for sentiment for those who worked a certain number of years, were male, and were part of the supply chain department.
Furthermore, it allows you to assign sentiment scores to certain keywords or phrases that may be very specific to your brand, industry, or audience. This Repustate IQ tutorial gives you a treasure trove of such details. To know more about this feature, refer to lessons 6,7, and 8.
What Insights Does A Sentiment Analysis Software Share?
A sentiment analysis platform gives you insights based on sentiment by language, data source, and ofcourse, the general sentiment overview. You can analyze entities, see their frequency, get granular aspect-based sentiment, and see the change in sentiment over time. There are several other key insights you can get. We discuss them all in detail below:
1. General sentiment overview & sentiment score
One of the most basic, yet principle things you can see in the insights generated by a sentiment analysis API is the general sentiment overview of the subject you are analyzing. The sentiment analysis software will crawl the internet for all relevant data or will analyze a data sheet that you have manually uploaded, and give you the number of total documents it has analyzed and the sentiments in color codes. In this case, green for positive, red for negative, and blue for neutral.
2. Aspect-based sentiment breakdown
A very important result that the sentiment analysis platform gives is a fine-grained analysis of every single aspect it discovers and categorizes from the data. The only true way a business can successfully remain relevant and thrive in a tough competitive environment is when it reads the room, in this case, the voice of its customers.
Had shoe company Aldo listened to what its customers were saying about the tawdry quality of their shoes and bags, as well the customer service, they would not be facing the situation they are in today. In contrast, 80-year-old business Browns Shoes remains strong as ever as it continues to evolve by listening to its customers and understanding market trends.
Aspect-based sentiment analysis gives you this power to carve your own niche by keeping an eye on every single detail about your brand.
3. Aspect occurrence frequency rates
Another interesting thing the sentiment analysis platform shows you is how frequently an aspect appears in the data. This gives you an idea of which aspect of your product, service, or overall brand, is being talked about the most. See image below.
4. Named entities, classifications, and entity frequency
The sentiment analysis software applies named entity recognition and gives you entities that it has discovered, extracted, and analyzed. For example, it will tell you that “love” is an emotion a person has, or that French is the nationality of a person (see image below).
It is interesting to note, that as it classifies these entities, it realizes the difference between “French” the language, and “French” the people. This is due to its capability to derive intelligence from semantics and contextual reference.
This is a vital advantage that Repustate IQ has over other similar emotion mining and analysis platforms.
5. Sentiment by keyword
You can also get sentiment by keyword. The sentiment analysis platform processes all the data related to customer experience, healthcare, the voice of the employee, brand monitoring, and such, and immediately picks out the sentiment attached to important words, as in, the most commonly occurring words and phrases, in that project.
This is useful because you get a very holistic picture of the data you are analyzing and even pick up things that didn’t even occur to you as a brand. This article illustrates this point in detail.
6. Toggle between aspect sentiment and text chunks
One of the key insights you can get from an AI-powered sentiment analysis software is when toggling between aspect sentiment and text chucks in the data. You can go back to see where those aspects appeared in which part of the data, and then observe the sentiments around those aspects.
7. Set alerts and get notifications in real-time
This is another great advantage of a really resourceful sentiment analysis platform, in that, it allows you to set alerts so you receive notifications through text or email for different requirements in real-time. For example, you can set an alert for every time a keyword you have assigned is mentioned, or there is a spike in your social media mention.
8. Changes in sentiment over time
Every brand knows how important it is to keep up with the times. Customer sentiments are a fickle master, quick to change overnight over a single controversial news item. Not keeping a tab on changes in market sentiment about your brand can lead to serious implications, as the once-powerful Disneyland realizes, as it topples from its prized position in the face of one PR disaster after another.
Having a sentiment analysis software that gives you the capability of monitoring changes in your brand sentiment as time passes is invaluable.
9. Changes in aspect sentiment over time
Similar to being cognizant of the changing market sentiments about your brand, you can also get a deeper understanding of customer emotions pertaining to individual aspects of your business.
10. Sentiment overview by data source
Another great insight you can have is the ability to see sentiment by the source of the data. This is clever because the audience demographics are so different across various social media platforms. This means that sentiment analysis based on your data sources can tell you that the negative sentiments you see are not necessarily because of a lacuna in your offering, but because you are taking your offering to the wrong customer base. Similarly, you can use these sentiment analysis platform insights to test new markets or for product innovations.
11. Sentiment overview by languages
Having a multilingual sentiment analysis software allows you to engage with more users. Unlike other multilingual platforms, Repustate IQ does not use machine translations to analyze data in different languages. It uses specific speech taggers for each language so that no nuance is lost when analyzing non-English data. Combined with a comprehensive named entity recognition capability, you get results that are more accurate than other major platforms in the market.
12. Aspect co-occurrence
An advanced sentiment analysis solution gives you aspect co-occurrence data that shows you how often certain aspects occurred together. For example, as in the screen-grab below from Repustate IQ’s dashboard, you can see how often an aspect like “service” occurred with “availability”, or the aspect “packaging” came up with “appearance”.
These insights give you vital information about audience opinion about various facets of your business and help you develop strategies for improvements in your product or service.
13. Emotion aspect co-occurrence
Similarly, the sentiment analysis software can give you insights about what emotion occurred most frequently with which aspect. Suppose you intended to find insights for internal use from the video repository comprising all your social media content specific to an item on your fast-food menu. In such a case, the solution would first help you search for the relevant content through search inside video, and then extract data from all the videos that pop up.
The sentiment analysis platform will analyze emotion in such a way that you get to know how often the emotion “love” or “hate” appeared with aspects such as “food”, “customer service”, “ambiance” in the video comments. This lets you know which aspects need your attention more keenly than others.
14. Word cloud
Conclusion
Billions of people are on social media, filling out surveys, writing their opinions on blogs, commenting on news articles, giving reviews of their employers on external websites, and even through internal employee forums. AI-powered sentiment analysis of this big data can give you the exact insights you need to create genius strategies for tangible results in terms of revenue and growth.
Advanced AI technologies need not be so complicated that you need a third-party vendor to help you through it, nor so expensive that it breaks your bank. A smart, intelligent sentiment analysis software can give you all the insights you need so that you are always ahead of the game. Talk to our team of experts for the best aspect model for your business, and tell us what customizations you need that will best suit your business.