Sentiment Analysis is the process of determining whether a document, tweet or any piece of text is positive, negative or neutral. It's also known as opinion mining, a type of natural language processing for tracking the mood of the public about a particular product, brand or any subject.
As a research method in marketing, sentiment analysis presents an efficient and effective evaluation of consumer opinions. Through sentiment analysis, marketers collect rich data on attitudes and public opinion, without compromising reliability, validity and generalizability. Marketers also gather feedback on attitudes and opinions as they occur without having to invest in lengthy and costly market research activities.
Millions of people are using social networks, such as Twitter, to express emotions and disclose details about their daily lives. They write on almost anything including brands, celebrities or politicians. To the marketer, this data provides deep insights into consumer behavioral tendencies. With sentiment analysis, marketers have the opportunity to learn about customer feelings and perceptions without intrusion or provocation.