The benefits of SAS sentiment analysis in business
The digital era gave people the means to express themselves. Whether it be Tweets, Facebooks posts or customer reviews, there is a lot of user-generated content that businesses can look into for more information. Furthermore, this user-generated content can be very valuable if used properly. In fact, studies show that customer reviews are twelve times more trustworthy than company produced marketing material. However, analysing the sentiment behind the content remains a huge challenge. Organisations often struggle to not only grasp the volume but the real sentiment behind the content as well, which is why SAS sentiment analysis tools are a huge business asset. In this blog post, we take a look at what sentiment analysis can do for organisations.
The uses of SAS sentiment analysis in business
SAS sentiment analysis allows businesses to get a better understanding of the feelings behind user-generated content. It uses statistical and linguistic conditions to identify negative, positive, neutral and even unclassified opinions from the content. The analytics platform can be used in many areas, particularly in market research.
Monitoring brand sentiment
Sentiment analysis tools can be essential for brand or reputation monitoring. No matter the industry they are in, every organisation can use sophisticated tools to monitor people’s feelings about the brand. SAS sentiment analysis tools can be useful in this regard because they can analyze different samples of user-generated content like customer reviews. This is useful in different functions like assessing customer response to new products, assessing brand perception and even monitoring content from influencers. Sentiment analysis tools are great for monitoring brand reception.
SAS sentiment analysis tools are an integral part of strategy formation. For marketers, the ability to see how customers perceive their brand makes sentiment analysis an invaluable part of forming marketing strategies. The tools can be used to assess mentions on different media platforms, identify the most relevant platforms to the company’s brand and even automate media monitoring processes. Hence, sentiment analysis tools can be used for evaluating marketing efforts to see the results and inform strategies.
Analyse product offerings
SAS sentiment analysis can do more than just analyse customer opinions, they can analyse how well the product is performing on the market. While there are some similarities to brand monitoring, there is one key difference: Brand monitoring is keeping an eye on how customers perceive the whole brand, while product analytics focuses on response to a specific product. Thanks to analysis tools, organisations have a better understanding of how people will respond to new and old products. They can use SAS sentiment tools to analyse every review and a bit of feedback to make adjustments accordingly. Sentiment analysis gives marketers a better understanding of how customers respond to a new product.
Improve the customer experience
With the ability to analyse how people are interacting with a brand, organisations are in a much better position to improve the customer’s experience. SAS sentiment analysis allows organisations to collect feedback from each customer interacting with the brand for analysis using powerful algorithms. Once the overall trend is found, the organisations will have a better understanding of what is affecting customers and how many feel this way. A better understanding of customers leads to several benefits for the end consumer, like better response times to complaints and meaningful feedback. For example, Google is using sentiment analytics to monitor feedback to Chrome and make updates accordingly. Thanks to sentiment analysis, organisations have a better understanding of how their customer’s feel on any subject.
Using SAS tools for the future
SAS sentiment analysis tools are crucial for the future because they provide a competitive advantage for organisations. No matter the industry, organisations face stiff competition, but a better understanding of the target consumer market helps them finetune and refine their marketing strategies so they can successfully compete in their respective industries. Sentiment analysis tools will also be crucial as knowing what people say about your brand across different mediums is vital. Of course, to use SAS sentiment analysis, organisations need to invest in the right platform that would bring data analysis capabilities to those who don’t have a technical background. A platform like SAS Viya can be useful in making the analytical capabilities of sentiment analysis more accessible.