Nowadays, companies proactively seek feedback and reviews to know what the users think about their products, software, website, movie, etc. Sentiment Analysis is a technique that makes it possible by sorting and analyzing thousands of opinions, feedbacks, and complaints. It allows organizations or industries to identify the positive, neutral, and negative responses of end-users. This information is used to maintain the product’s status, improve its reputation, and take preventive actions, if required.
Every organization wants to have a robust business model catering to a wide audience. It’s important to know the customer's preferences and requirements so that applications can provide a customized user experience. Understanding your user’s sentiments play an equally important role in increasing the sales conversions and have a happy customer base.
Sentiment analysis helps product companies in evaluating the user experience and how their users feel about their product. Many industries, like advertising, gaming, healthcare, and education are adopting to Sentiment Analysis and Emotion Recognition. A recent research by Tractica revealed that the global market for Sentiment and Emotion Analysis Software would reach $3.8 billion by 2025.
Sentiment and Emotion Analysis Software Revenue by Use Case Category, World Markets: 2016-2025
Why Is Sentiment Analysis Important?
A large amount of text data that comes from sources like surveys, documents, and social media is in a disordered state. It is hard to scrutinize and sort this data as it consumes a lot of time and involves high costs.
Sentiment Analysis overcomes these issues and allow organizations to save hours of manual data processing, increase the team efficiency, and get actionable insights.
Advantages of Sentiment Analysis:
|How Does Sentiment Analysis Work?|
Processes and algorithms are required to put Sentiment Analysis into action and that could be categorized as followings:
The parameters which play an important role to perform Sentiment Analysis are listed below:
Sentiment Analysis System
Testing Tips And Tricks
- Sentiment Analysis is need of the hour
- Data plays an important role in extracting the exact Sentiment Analysis
- Knowledge of NLP and Python libraries are required for understanding the workflow of Sentiment Analysis System
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