Sentiment analysis is an AI-based natural language processing and text analysis to identify, extract, quantify and study the opinions and perceptions expressed via text, verbal and non-verbal cues. From a sales perspective, aspects such as tone, speed, gestures, and talking in third person as also considered for sentiment analysis. In a business context, sentiment analysis enables organizations to understand their customers better, earn more revenue, and improve their products and services.
Types of sentiment analysis
Standard Sentiment Analysis: One of the most common types of sentiment analysis since it recognizes the overall tone of a written text and classifies it as positive, negative, or neutral.
Fine-Grained Sentiment Analysis: Based on a polarity range and can be used to get precise understanding of customer feedback. Usually measured on a range of 5 stars to 1 star.
- Very positive - 5 stars
- Positive - 4 stars
- Neutral - 3 stars
- Negative - 2 stars
- Very negative - 1 star
Aspect-Based Sentiment Analysis: Based on subtext, it helps in determining specific attributes and components regarding a subject. In simple terms it helps in understanding the nuances hidden behind positive sounding / reading statements.