Abstract:

Thanks to the increasing proliferation of social media platforms, 21^st century customers have more opportunities to express their opinions and perceptions on any product or service. This customer sentiment data, generated in the form of comments, reviews, shares or likes, usually contains invaluable information that can add value to a business. Our objective in this article is, thus, to explore the different ways in which sentiment analysis can help businesses derive value from the voluminous amounts of data that customers generate online. In this respect, it has been found out that sentiment analysis can help businesses gain valuable insights about their clients and about their sentiments about the brand. Based on this information, companies can provide their customers with the instant feedback they usually need or react to fix the problems that have been detected before they spiral out of control. Sentiment analysis can also allow businesses to design better products or services, enhance customer experience and get a competitive advantage.