Why Companies Should Invest in Sentiment Analysis

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man on laptop using AI to invest in sentiment analysis

Monitoring and examining sentiments have become increasingly popular with brands focused on automating their business processes. Mainly known as an innovative tool used by social media and marketing analysts, sentiment analysis, sometimes referred to as “social listening,” has also proved helpful in other functional areas. We explain why companies should invest in sentiment analysis.

Insight engines allow to use sentiment analysis across the enterprise and doesn’t limit the tool to just one business need.

Without machine learning (ML), methods like natural language processing (NLP) sentiment analysis would be unachievable. Insight engines use state-of-the-art AI techniques to classify whether data is positive, negative, or neutral.

With many aspects of business operations being judged by analytics, statistics, and other measurements, sentiment analysis provides companies with metrics on entities and data points they never analyzed before.

Sentiment Analysis and Its Many Uses

On the web, there are countless spaces where people chatter about your brand. Yes, social media channels are the most significant portion of that. Still, people tend to forget there is plenty of sentiment in phone calls, chatbot conversations, forums, product reviews, financial reports, customer support tickets, content pieces, emails, and internal documentation.

Mindbreeze InSpire connects company-wide data and data from external sources, language from text, and spoken word to be processed for real-time sentiment analysis. This capability provides incredible benefits to your workers – making them aware of what is happening around your business so they can address their tasks more productively.

So, what areas benefit from these insights?

  • Customer Service

Customer service departments can utilize the sentiments from text within any customer touchpoint to help prioritize their work and which problems they handle first. The sentiment from chatbot conversations and support tickets can highlight the urgency for B2B and B2C brands.  

Large corporations have a large number of support requests, which can be stressful for any size customer service team, especially if the topics are scattered and not assigned properly to experts within the organization. NLP and Natural Language Understanding (NLU) not only contextualize the written or spoken word but can also comprehend its emotion. Using classification methods on top of this permits organizations to automatically sort requests to the proper place and person in order of the most pressing issue to the least.

  • Project Management

Similarly, project managers can use sentiment analysis to shape agendas, scheduling, and how they interact with their teams. Sentiment analysis gives project managers overviews and details about the ongoing projects they would never have without surveying or holding focus groups. Sentiment analysis can assess data and highlight to a manager how different aspects of a project are perceived, such as workers in their roles, feelings towards communication tactics, and more. Feedback provided by these tools is unbiased because they directly analyze words commonly attributed to positive and negative emotional responses. Project managers can use these sentiments to adjust plans and how they relay information to critical stakeholders.

  • Employee Morale

Sentiment analysis also gives companies a way to hear the opinions of their employees. Reviews from job recruiting websites, emails, and internal messaging platforms can provide companies with information that leads to decisions to reduce turnover and keep employees satisfied.

Staying in the Know to Advance Your Brand

Nowadays, it is unwise not to take advantage of tools that tell how people feel about your products and offerings. By connecting data and language from structured and unstructured sources, employees and managers can quickly get important answers about their business and feelings about their products.

With the help of keywords, businesses can better understand how customers feel about a new feature and how potential customers and employees are talking about you and your competitors. Metrics provided by sentiment analysis directly impact decision-making and uncover meaning companies never had related to their people and processes.

Listening to feedback and processing it efficiently adds much value for businesses, especially in real-time. To grow and scale effectively in all business areas, it is an intelligent investment for decision-makers to listen to what stakeholders are saying.

Innovating and staying in the know is a huge plus for companies looking to adapt, improve, or transform any of their processes. Luckily, there are countless solutions to explore!

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