What is Sentiment Analysis and Why is it Important for your business

Topics: Data analysis, Linguistics, Sentiment analysis Pages: 4 (1298 words) Published: June 13, 2015
Note: My intended audience is now people who own or manage businesses, who don’t necessarily have the technical knowledge about Sentiment Analysis. If I were to convince my audience to use my product/software, I have to explain to them how it works and what it does. That’s the purpose of this document. I am again unsure if my approach here is correct; appreciate your feedback and suggestions. ---------------------------------------------------------------------------------------------------------------------------------------- What is Sentiment Analysis and Why is it Important for your business? What is Sentiment Analysis?

Sentiment relates to thoughts, feelings, opinions, emotions and attitudes. Sentiment Analysis refers to the practice of applying Natural Language Processing (NLP) and Data Analysis techniques to identify and extract the opinion of a text’s author. A person’s opinion is usually subjective and not facts. This means it is extremely difficult to extract an author’s opinion or mood from a piece of text. With Sentiment Analysis, we are trying to get an understanding of how an author feels with respect to a topic in a piece of text he or she wrote; whether it is positive, negative or neutral. The sentiment of a text is expressed using a sentiment score which can fall in the range -1 to +1. Where +1 represents completely positive, -1 represents completely negative and 0 represents neutral. For example if I wrote “Today is a beautiful day”, the sentiment score of this text would be +1. In recent years there has been a steady increase in interest from companies and researchers in Sentiment Analysis and its applications. Interest on “Sentiment Analysis” over time:

Source: http://www.google.com/trends/explore#q=sentiment%20analysis

Businesses today are increasingly looking for “business insights” in order to improve what they do. What “business insights” are we talking about?
We are talking about insights into consumer behavior. This...

References: 1. Rakesh Adhikesavan, Leela Shravanthi; “Sentence-Level Sentiment Polarity Calculation For
Customer Reviews By Considering Complex Sentential” IJRET eISSN: 2319-1163 | pISSN: 2321-7308
2. Wikipedia, Search Key: “Sentiment Analysis”, http://en.wikipedia.org/wiki/Sentiment_analysis
3. Bing Liu, “Sentiment Analysis and Opinion Mining”, Morgan and Claypool Publishers, May 2012.
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5. Shaikh, M.A.M., Prendinger, H., Ishizuka, M.: “Sentiment Assessment of Text by Analyzing Linguistic Features and Contextual Valence Assignment”, Applied Artificial Intelligence, Vol. 22, No.6, pp. 558–601, 2008.
6. Hu M, Liu B. “Mining and Summarizing Customer reviews”. In Proceedings of the 10th Special Interest Group on Knowledge Discovery and Data Mining (SGKDD), Seattle, WA, USA, pp 168-177, August 2004.
7. Moilanen, K., Pulman, S.: “Sentiment Composition”, “International Conference on Recent Advances in Natural Language Processing”, pp. 378–382, 2007
8. Polanyi, L., Zaenen, A. “Preface: Contextual Valence Shifters”, Computing Attitude and Affect in Text: Theory and Applications, Springer Publications, Vol. 20, pp. 1–10, 2006
9. Wilson, T., Wiebe, J., Hoffmann, P.,“Recognizing contextual polarity: An exploration of features for phrase-level sentiment analysis”, Journal of Computational Linguistics, Vol. 35, No.3, pp. 399–433, 2009
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