What is Sentiment Analysis?
Sentiment analysis, also known as opinion mining, is the process of determining the emotional tone behind a series of words or text.
How Does Sentiment Analysis Work?
Sentiment analysis uses natural language processing, text analysis, and computational linguistics to identify and extract subjective information from text data.
Benefits of Sentiment Analysis
- Understand customer feedback
- Monitor brand reputation
- Improve customer satisfaction
- Identify emerging trends
Examples of Sentiment Analysis
Companies like Amazon use sentiment analysis to analyze product reviews and improve customer experience. Politicians use sentiment analysis to gauge public opinion.
Case Studies
A study found that Yelp reviews with positive sentiment led to a 5-9% increase in revenue for restaurants. IBM used sentiment analysis to improve customer service and reduce churn rates.
Statistics
According to a survey, 79% of businesses use sentiment analysis to understand customer opinions. Sentiment analysis market is expected to reach $6.1 billion by 2025.
