Why Is Sentiment Analysis Important In Ecommerce?

How Sentiment analysis is helping businesses understand their customers

What Is Sentiment Analysis?

In the digital age, it becomes important to keep yourself updated on the latest technologies and programs.

It becomes even more necessary if you use online platforms as a medium to earn.

Since, in that case, you need to learn your customers’ sentiments.

One such strategy that makes it easier for businesses to analyse their customers’ responses, reviews, or feedback on their products is sentimental analysis.

In simple words, sentiment analysis helps brands to know public sentiments on their products.

They can learn whether their customers are happy with their products or not.

In other words, they can track the overall performance of their brand or even learn about their competitors’ brands.

They can further use this data to gain more customers.

In technical terms,  Sentimental analysis is a strategy that helps in monitoring and analysing data using algorithms, Machine Learning, and Natural Language Processing (NLP).

With the help of this automated program, also known as opinion mining or emotional AI, companies can know public sentiments behind a text.

It helps in gathering sentiments by classifying customers’ opinions on your products as “positive,” “negative,” or “neutral.”

This information can then be used by the brands for their enhancement.

How to Use Sentimental Analysis In Ecommerce?

Ecommerce businesses use sentimental analysis for various purposes.

Most people are indulged in eCommerce business nowadays.

With eCommerce taking the Internet by storm, it’s crucial to know your customers’ feedback and opinions on your products or brand.

And in the age of technology, almost everyone takes the help of eCommerce platforms to express themselves.

Many customers share their reviews and feedback on various services and products that they purchase on a daily basis.

Hence, the magnitude of data produced on such platforms is tremendously high.

Ecommerce companies can use this data for the growth of their brand.

They can enhance their products/services and know-how their competitors’ brand is performing in the market.

As a result, they can use better strategies to make their brand outshine the rest of the market’s brands.

However,  analysing such a huge amount of data manually is challenging.

Nonetheless, sentimental analysis has made it easier.

With sentimental analysis, companies can analyse large amounts of data.

However, you will need good software programs and a highly-functional desktop or laptop.

Accessing such large data needs reliable software programs, excellent ram, storage, and processor.

You need to have these things handy before you plan to conduct a sentimental analysis.

Now, let’s learn how eCommerce companies can conduct a sentimental analysis.

How Can Ecommerce Companies Conduct Sentimental Analysis?

Ecommerce companies can perform sentimental analysis by collecting data and then analysing it for overall public sentiments on their products with respect to time.

In order to find public sentiments, various reliable tools and software can be used.

There are many tools available for gathering data, such as R tools.

Once the data is collected, it’s important to identify various attributes on the basis of which the data has to be analysed.

Language, text, row, user, ID, polarity, etc. all come under the attributes.

After identifying the attributes, the data is ready to undergo sentimental analysis.

Based on the sentimental analysis, statistics can be drawn.

For example, suppose all the comments on a particular product are analysed.

After being analysed, the percentage of negative, positive, or neutral comments can be statistically classified using classifying algorithms.

After statistics, it becomes easy to come to a conclusion or draw an outcome.

The results can be used for data visualisations in order to present the information in a more accessible and easier way for the customers.

For example, a bar graph showing different bars to indicate different percentages of positive, negative, and neutral feedback will help customers in making their decision while buying a product.

R programming, Tableau, etc. are some of the commonly used software programs for sentimental analysis.

Conclusion

Sentimental analysis is crucial for eCommerce companies for the growth of their brand.

With the help of sentimental analysis, companies can know how well their brand performs in the market.

By gaining insights into customers’ sentiments, brands can know whether their products have more positive or negative remarks.

And accordingly, they can work on the enhancement of their products, goods, or services to target the right sentiments of the public.

When every business has an online presence, it’s very important to follow the right marketing and brand monitoring strategies.

Your brand can do wonders on the eCommerce platforms if you are able to impress your customers and take care of their needs and requirements.

Sentimental analysis or opinion mining lets eCommerce achieve all these things.

It helps you gain insights into your brand and learn about your competitor’s popularity in the market.

Consequently, you can work on your brand to improve it or make it even better than that of your competitors’ brand.

Recommended further reading:

Share this content:

Upcoming Industry Events:


Customer Experience and the COVID Crisis with Don Peppers

Free
Scheduled
Event Organiser:
CX Central
Virtual/Online

Join leading global CX expert Don Peppers and host Justin Tippett from CX Central on this free webinar - Customer Experience and the COVID Crisis to discuss:

- Why a good “customer experience” is even more central to long-term business success
- How to benefit from the dramatic rise in online, interactive activity; and
- Why trust is even more vital than it ever has been, amid the COVID crisis.

Virtual Coffee: Carrots and Sticks

$30
Scheduled
Event Organiser:
Auscontact
Virtual/Online

In the final Virtual Coffee session for the year, this workshop explores the theory behind motivation and how leaders motivate others (and themselves) - plus some great tips!

Managing Difficult Customers – November 2020

$397
Scheduled
Event Organiser:
CX Skills
Zoom

The Managing Difficult Customers November 2020 course is delivered by global CX-Expert Daniel Ord teaching frontline agents how to identify different types of difficult customers and different types of difficult situations and use root cause analysis to apply the correct solution with confidence.

Efrat Vulfsons
About Efrat Vulfsons 1 Article
Efrat Vulfsons is a data-driven writer and freelance publicist, parallel to her soprano opera singing career. Efrat holds a B.F.A from the Jerusalem Music Academy in Opera Performance.