“We have seen a clear evolution in demands from our customers. They are better informed and far more sophisticated in their expectations and requirements.”- Mark Redgrave of Hapax.

True!! With the advent of social media they now have their own platform to express their views and opinions. The main intention behind social media monitoring is to track these conversations as I have mentioned earlier. Determining if these conversations are positive or negative is called Sentiment Analysis.

Listening to the sentiments behind a customer’s voice is very important for any company that wishes to act upon these opinions. According to me, sentiment analysis is very important to any social media monitoring initiative. It is vital to analyze whether good or bad conversations are driving your brand in the social media space. In fact, tracking sentiments is one of the real reasons why businesses enter social media. At iridium, we use several tools to do this.

Automated sentimental analysis tools are generally used to give numbers to these customer sentiments. It is good if you dig deeper than the statistics to get a clearer picture. Also you will need to compare sentiments across several brands over a time period.

If the consumers have positive sentiments with a brand, its all good, but when there is negative sentiment it makes the analysis interesting when you have to uncover the reasons behind this particular sentiment. Sentiment analysis coupled with social monitoring tools make this study even more interesting. It is more like stepping into your consumer’s mind and understanding what drives their thinking about your company.

I would not like to confuse you further, so I conclude by stating that sentiment analysis is nothing but social media monitoring with a qualitative twist.