They are a part of our lives.
The temptation to include them in the texts that we send and the social media posts that we make is great. Fearing that our words alone will not provide enough detail, we add one, two, maybe five or six emojis to our messages and our comments to that we can communicate how we are really feeling. What we are really thinking.
And while we are interested in letting our friends and family members know what we are thinking, it should come as no surprise that digital marketing companies are trying to find ways to help retailers know how consumers are feeling as well.
Through the use of software sentiment analysis tools, for instance, a digital marketing team can help their clients find out very valuable information. And while giving one to stars as a rating for a product, a service, or a visit can be somewhat helpful, software sentiment analysis tools can provide more specifics.
With the use of the latest opinion mining strategies that are available, companies are able to find out many more details about their current and potential clients. In fact, semantic extraction software engines allow many companies to constantly evaluate how their corporate messages are being received and anticipate any changes that they may need to make.
Consider some of these facts and figures about sentiment analysis software and the other digital mining processes that are available:
- Currently, less than 1% of digital data is ever analyzed, according to the International Data Corporation (IDC). Text mining, however, can bridge the gap to the missing 99% of data that is not being used.
- Information retrieval, natural language processing, information extraction, and data mining are the four steps in the text mining process.
- Producing an enormous amount of data every second, Facebook has 1.97 billion monthly active users worldwide.
- Deduplication, record linkage, and canonicalization are the three primary tasks involved in entity resolution, the practice of finding and linking mentions of the same entity across and within data sets.
- $3 billion is the current value of the text analytic market. It is forecasted, however, to reach almost $6 billion by the year 2020.
We are no longer a nation that only wears its collective heart on its sleeves. We are also a nation that tells much about ourselves in the texts that we send, the online reviews that we submit, and the comments that we post. It should come as no surprise that there is an increasing amount of software that can be used to interpret this data. From software sentiment analysis tools to other types of text analysis software, a growing number of businesses are trying to see how they can use this information to their advantage.