Opinion mining is the process of evaluating people’s emotions and attitudes to understand their reaction to a product or service.
Organizations can use the use of this advanced intelligence tool to process natural language, data analysis, in addition to the extraction and study of subjective information, to classify it as positive, negative or neutral.
Unlike tools for quantitative data analysis, sentiment mining, also known as sentiment analysis , focuses on evaluating interactions between the target audience and the brand.
Opinion mining features
With the help of opinion mining, organizations can find out if their strategies and processes are on the right track. In addition, to know customer satisfaction.
By applying a satisfaction survey , companies can collect consumer feedback and find out if they are unhappy with a brand.
When investigators identify a large amount of negative information, they can make the necessary adjustments to improve the organization’s processes.
Opinion mining helps organizations discover:
- What features or attributes they like or don’t like about your products and services
- The percentage of negative responses in recent months
- How the number of negative responses has increased compared to previous years.
- What is the product or service that has the best reviews.
- The percentage of positive responses compared to a certain previous period of time.
- Comparison of positive and negative comments.
Opinion mining benefits
Among the main benefits of using opinion mining are the following:
- Opinion mining enables organizations to identify which features of their products and services are liked and disliked by consumers.
- It drives the market segmentation process to develop products and services that adapt to each group of its target audience.
- It is possible to involve the different departments to offer ideas in the creation of products and services. Which is ideal to motivate them and improve their performance.
- It allows you to compare customer feedback with the competition and identify what improvements are needed.
- Thanks to data mining, problems that reach the customer service department can be quickly responded to.
- It allows you to create strategies to position the brand and give it a good image in front of the competition and customers.
- Review mining allows you to understand the mood of customers and the context of their comments.
- Lastly, opinion mining is also of great benefit to internal processes, as it helps management understand how workers feel using employee surveys . Thus, it is possible to resolve to make your voice known and to resolve your concerns.
Among the main uses of opinion mining are the following:
- Surveys : Allows you to perform an in-depth data analysis regarding customer feedback and classify such comments as positive, negative or neutral.
- Analysis of comments on social networks: Customers interact all the time on social networks, share comments and reactions to publications. With opinion mining it is possible to understand the impact of these publications, marketing campaigns, events, etc.
- Position the brand in the industry: Data mining helps organizations identify negative customer feedback and act immediately. In this way, they will feel appreciative, increase their loyalty to the brand, and recommend it widely.
- Personalized customer experience: Opinion mining allows you to know the needs and preferences of consumers. In this way, it is possible to offer a positive customer experience, addressing specific situations.
- Sales forecast: Companies can use open questions that allow them to know in advance if they have commercial opportunities and create effective strategies to achieve it.
Importance of opinion mining for your organization
With opinion mining, organizations can use the answers collected in an open text question to forecast the level of consumer satisfaction. In addition, they can achieve clear objectives such as:
- Direct your efforts to specific market segments to improve the characteristics of the products and services.
- Give continuity to the feelings of consumers throughout their interaction with the brand.
- Opinion mining allows you to discover what are the characteristics of a product or service to attract a target audience.
- Give continuity to changes in consumer emotions and attitudes after making the necessary adjustments to products and services.
- Identify consumers who are promoters and detractors of the brand to create strategies that change the attitude of the latter.
- Data mining helps organizations assess their priorities to always keep them one step ahead of competitors.
In general, opinion mining allows companies to understand the mood of customers and even your workforce. Later, work around these comments to create effective strategies to help them maintain their satisfaction.