Advantages of Real time sentiment analysis

Posted by Emma Thompson on July 17th, 2017

Real-time analytics is now becoming all pervasive. It is now entering the domain of the human mind. The real-time sentiment analysis is all about understanding what is going on in the mind of a person at a given point of time and then articulating your response to winning him over. It is now being used in almost all the aspects of Industrial and business spheres. People are expressing themselves more than ever before on the internet and elsewhere.

The Twitter, Facebook, and many other social platforms give their users the liberty to express themselves freely. Hitherto this valuable data was going unnoticed but not anymore. the corporations are now using that valuable information about their potential customers to understand their mindset and tailor their response to win their confidence.

The real-time analytics is getting more and more sophisticated it is now being used for the real time sentiment analysis in the real time as a lot of people are online giving their feedbacks and opinions on the host of issues in social media.

In recent years, real-time analytics on stream data has formed into a new research field, which aims to answer queries about “what-is-happening-now” with a negligible delay. The real challenge with real-time stream data processing is that it is impossible to store instances of data, and therefore online analytical algorithms are utilized.

Thanks to the real-time sentiment analysis, it is now possible to understand what is going inside one’s mind as he chats on the company website and gauge his mood. The corporate know what impact an unhappy customer on their business. A happy customer can greatly boost your sales and become a brand ambassador in his own right. How do you sift through all the different interactions and identify the key customers that need special attention in real-time? The real-time sentiment analysis comes handy here as it automatically identifies and flags both positive and negative conversations as they happen - providing entrepreneurs with amazing opportunities to turn unhappy customers into satisfied ones.

In recent years, stream data is generated at an ever increasing rate. The main sources of stream data are mobile applications, sensor applications, log records or click-streams in web exploring, call detail records, email, blogging, twitter posts, Facebook statuses, search queries, finance data, credit card transactions, news, emails, and so on.

With growing availability of opinion-rich resources such as personal blogs, it is now possible to evaluate the mood of the people; what is their opinion at the moment of an event and this can have far-reaching impact in the field of business or politics. The knowledge of real-time sentiment analysis of social streams helps to understand what social media users think or express “right now”. Application of real-time sentiment analysis of social stream brings a lot of opportunities in data-driven marketing (customer's immediate response to a campaign), prevention of disasters, business meltdowns and the public mood in social and political spheres.

Benefits to real- time sentiment analysis

1. Increase First Contact Resolution by identifying and resolving potentially problematic issues.
2. Immediately response to the problem the customer is pointing to.
3. Improves operational efficiency by Targeted Agent training.
4. Enhances Contact center management Quality Monitoring.
5. Happy customers can be identified and opportunities can be explored to offer them additional products.