Friday, June 12, 2015

Controlling Market Damage – Sentiment Analysis

Saying good about others relaxes them a lot. Keeping on saying good about others, keeps them on high. Not only they start looking at you to solve their problems, but also they empathize and sympathize with you even if you don’t solve their problems. 

Human psychology is tied up with emotions. Positive emotions are like carrots while negative ones are like sticks. Besides, group psychology matters a lot when people discuss, debate, and argues about a particular topic. If a few people break a topic with positive words, then slowly other people also start doing the same thing. Exceptions like rebel statements are there in every case though but in this kind of scenario, statements that are uttered in the initial stages wield lot of influence on the eventual discussion. In other words, there is a chance to say that discussions started on a positive note would also end on a positive note. 

In this modern world, now, people convey about themselves not only using words/ phrases/ sentences/ body language/ etc. but also through the product brands they use. Using a certain costly product brand is like making a statement either in terms of fashion or displaying richness or something that the other people like to possess it. Not only they tweet it using their Twitter account, but also they update the usage status on their Facebook account. 

However, a few times, products or brands do not match the expectations of their respective fans! In this case, there is a chance that the frustrated fans and other public can make derogatory comments about the product/brand in social media . Companies, when they run the sentiment analysis application on social media, can easily find these statements, understand the root-cause of the problem, immediately reply the concerned person, take the problem offline, and limit the damage. Besides, they can easily know the new domain trends that are trending in the social media on a periodic basis and help themselves to make the corresponding changes to capture the future market.

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