With multitudes of information shared on social media websites like Twitter, Facebook etc and discussions about company offerings on blogs, forums and posts; companies want to extract every bit of the information available to analyze consumer sentiments about their offerings. Companies from different domains are trying to use the customer sentiment information to gain a competitive edge in business. Below are some common industries that use sentiment analysis. Examples of companies within the domain are also mentioned to know the current users of Sentiment analysis.
Healthcare: Sentiment analysis has wide-scale applications in the Healthcare industry. Many patients use internet to post their patient experience in provider facilities. This unbiased feedback from patients is critical for healthcare practices to improve the quality of care. It is not possible for the patient to keep going back to the facility to report post intervention feedback. Extracting patient sentiments from unstructured data in blogs, twitter, Facebook posts help hospitals realize important performance factors like patient satisfaction, staff friendliness, procedure efficiency. Patients also share information regarding their payer experience on the internet. Tweets, posts about insurance benefits, timely service are critical information to the payers to improve their existing services. 94% patients believe hospital’s brand name is important in making a selection. By understanding patient sentiments and taking appropriate action to translate negative feedback into improved care can help a hospital improve its brand image.
WebMD is a health information service that provides regular health related advice and suggestions to its users. WebMD is collaborating with T...
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...y, Friendliness of staff, Quality of food etc. [5]Starbucks uses a NLP platform to track its mentions on the web to monitor its brand presence and beverage popularity.
There are many other industries where sentiment analysis does have a huge potential business value. IBM came up with an analysis where they used Twitter data to understand how the world feels about the World Series in baseball. These findings can’t predict if the team will win or not, but it can open doors to new ways of thinking about fans interest players to be signed and other preferences.
Conclusion
Personalization and consumer feedback has reached an all new level with companies employing Sentiment analysis. Now that we have spoken about all these companies using Sentiment analysis, start tweeting, Facebooking, blogging as hard as you can. Your post might just be the game changer in the industry.
This site was chosen for its popularity and the wealth and breadth of information that are available to anyone with internet access. Tens of millions of people access this website monthly to gain insight and information into their health concerns. WebMD is a resource intended for a wide scope of readers: physicians, nurses, and consumers. The vast majority of users that access WebMD are Caucasian females between the ages of 18-50+ who are college graduates. Literature found on WebMD are: health information, symptom checklist, suggestions for treatment, information on medication, different links to additional information, and a place to store you information for future reference if one desires. All internet users must approach searching for health information through a systematic analytical review process. The evaluation process for a health information Web site should use the same basic principles for evaluation of general Web sites, but since health information can involve ...
Starbucks in today’s date is the world’s largest coffee chain. The brand which was founded in 1971 has established itself as the world’s leading specialty coffee brand with its more than 13000 outlets in 39 countries. The company has had an impressive record of sales and growth also. Something that differentiates Starbucks from others is its coffee as well as the special Starbucks experience. Starbucks serves more than just coffee. It is also known for the relaxing ambience where the customers can relax and sip with their friends. Starbucks is famous for its genuine service, inviting atmosphere and of course superb coffee. The company is committed to quality and it is due to its commitment to quality that its product pricing is also premium. However, despite the premium prices of its products the brand is loved around the world by the customers for the quality of products that it serves.
Technology is a driving force in our society. People can now manage their bank accounts, pay bills, and get their news with the click of the mouse. It only makes sense that the health care industry would join in on these web-based initiatives. More and more providers are using online patient portals as a means for communicating with patients and allowing them to have access to important health information. While patient portals are still in their emerging stages, positive results are being reported from patients and healthcare professionals alike. Online patient portals allow more effective communications between patients and their healthcare professionals by developing stronger, more utilized relationships and by creating a way to get information out to patients more efficiently. Through this enhanced communication there will be patients that are more actively engaged in their treatment, have stronger relationships with their healthcare professionals, and in many cases have improved medical conditions.
Striving to be more than just coffee-roasters, Starbucks brand has grown to focus on “genuine service, an inviting atmosphere and a superb cup of expertly
With this data we were able to obtain sentiment scores, and compare them to the stock prices
A great example of this is described in David Kerpen’s book Likeable Social Media in his introduction he describes a vacation to vegas where he had to wait in line an hours at the trendiest hotel in town, the Aria, in his frustration he tweeted “No Vegas hotel could be worth this long wait. Over an Hour to check in at the Aria #Fail”. Just two minutes later a competitor of Aria called Rio hotel tweeted back, “Sorry about the bad experience, Dave. Hope the rest of your stay in Vegas goes well” (Kerpen 1). The hotel used social media to listen and empathetically respond to their consumer like a friend which gained them a customer for life and possibly countless others if Kerpen decides to endorse and recommend Rio on social media. This idea of endorsing business through social media is revolutionary as well as quite exciting and daunting for companies. Before if you had rave reviews about a company you would share it with 10 or 15 friends but now with one click you can share your thoughts with with 350 Facebook Friends, 300 twitter followers, or 150 LinkedIn connections (Kerpen 8), with that power the consumer can have positive or negative impact on that company's
Starbucks first opened its doors in Seattle’s Pike Place Market with the name being coined from that of Moby Dick’s first mate (Schultz & Yang 1999). It has spread its shops across North America, all over Europe, the Middle East, Latin America as well as the Pacific Rim with an estimated 35 million customer weekly (Michelli, 2008). With tremendous growth from a small time coffee shop, the company has matured to an international icon that today it is one of the world’s leading retailer, roaster and brand specialty coffee (Story, 1971). The company offers whole bean coffees, espresso beverages, and confectionery and bakery items.
The brand “Starbucks” is one of the most recognizable brands in the coffee industry. Not only is it considered a great workplace, but it is also ranked 91st in the best global brands.
...e predictive qualities, used in the box office revenues study, S Asur, BA Huberman (2010), is a definite sign that there is potential in analysing the mass of data within social media, and use it to predict future outcomes. There is the idealism that if everyone invests in the same asset or security looking for positive returns, it is a self-fulfilling prophecy in that the price will increase. In the same respect if everyone is sharing and spreading the information repeatedly. I believe we definitely could use the data that can be mined from Twitter, for predictive measures. Even though several of the studies looked at, analyse the data after the events, if further analysis was to happen, potentially looking to extrapolate the relationships, and using differentiation, to find the reactions as the sentiments change on Twitter; it could be used in a predictive manner.
Social media is an imperative public relations tool for companies to utilize in their business practices. Social media cannot be regulated so anyone can say what they please about the company, whether it is good, bad or ugly. Social media is developing rapidly and there are new platforms
Health information is vital for the development of research as well as for tracing a patient’s history. It plays a pivotal role in improving health care safety, the quality of healthcare and overall patient outcomes (National Academy of Sciences, 2009). It becomes possible to not only reduce the propensity of medical errors but to also reduce medication that one needs.
Founded in 1971 at Seattle’s Pike Place Market, Starbucks Coffee, Tea and Spices, as it was originally called, has been “brewing-up” its famous blends in over 43 countries, including the United States. Now called Starbucks Coffee Company, business isn’t just about the coffee and tea anymore. Starbucks has its own line of bottled water, handcrafted beverages, fresh food, entertainment, merchandise and a Starbucks Card. The company has received numerous awards for their outstanding business practices. Fortune Magazine has ranked them as one of “The Best 100 Companies to Work For” in 1998, 2000, 2002, and 2008 (Starbucks, 2008). The Starbucks Experience provides consumers and the general public a direct line a of business communication. From friendly baristas to press releases from CEO Howard Schultz, Starbucks keeps its “partners” informed.
Social media analysis involves processing huge amounts of unstructured data to gain useful insights, in order to do this, various data collection and analysis tools and techniques have to be utilized. These techniques are based on three fundamental models, namely, statistical models, survey models and prediction market models.
From a public relations standpoint social media is a very powerful tool. It allows a company to instantly reach out to the public and receive feedback just as quickly. This can be useful when addressing customer complaints. In an article about social media and business: “Several companies have used Twitter as a fast way to solve problems. Hotels, airlines, and airports are using it to pitch services, travel updates, and respond to travelers needs.” (Burrus, 2010) Social media proved beneficial to these companies because customers not only appreciate that their problems are being addressed, but they also appreciate the speed at which the complaints were
Sentiment analysis, also called as opinion mining, is the field of study that analyzes people’s opinions, sentiments, evaluations, appraisals, attitudes and emotion towards entities such as products, services or organizations, individuals, issues, topics and their attributes. Sentiment analysis and opinion mining mainly focuses on opinions which express or imply positive, negative or neutral sentiments. Due to the big diversity and size of social media there is a need of automated and real time opinion extraction and mining. Mining online opinion is a form of sentiment analysis that is treated as a difficult text classification task.