Sentiment Analysis Helps Predict Where a Market is Heading

GREENWICH, Conn. - Aug. 30, 2013 - PRLog -- Greenwich, CT USA, August 28, 2013. Thanks to Civicom Marketing Research’s innovative Text Analytics (http://www.civi.com/marketingresearch/data_extraction.html#datatextanalytics) tool, researchers now have the capability to sift faster through raw data.

To get a head start on the process of report generation, a researcher often needs to dive in and start looking for useful information as soon as the first responses from study participants start pouring in. Even while a research project is still underway and churning out literally mountains of data, the Civicom Text Analytics (http://www.civi.com/marketingresearch/data_extraction.html#datatextanalytics) solution has been a proven lifesaver. Sentiment Analysis (http://www.civi.com/marketingresearch/data_extraction.html#datasentimentanalysis) is part of that process.

As Civicom Marketing Research puts it, “If manually sifting through stacks of raw data can be compared to panning for gold, then text analytics is the equivalent of a state-of-the-art screening plant.” Sentiment adds to that by helping to predict where a market is heading.

Buyers Buy Because …

If it is true that the actions of an individual are driven in part by emotions, then companies need to find out what certain product characteristics will most likely stimulate a positive response from buyers and generate an emotion that will move consumers to purchase a product or sign up for a service. A customer’s emotional attachment to a product almost always assures the all-important repeat purchase. Sentiments, in this case, are good bases for formulating crucial points within a market research study.

Civicom’s Text Analytics service involves sentiment analysis because the role of feelings in a purchase carries much weight. Sentiment analysis is that process wherein the output report from a research project is able to convey emotional tone. By indexing certain words and phrases that respondents use, and then ranking them, thoughts that can predict where a market is heading can better be understood.

The Text Analytics tool significantly cuts down the processing time required for analyzing raw data (from days to moments) and also paves the way for the efficient extraction of “key insights” through sentiment analysis.

More on Text Analytics at MRMW Europe

Civicom’s Business Analyst for North America and Europe, Mike Timmerman, will be presenting "Using Text Analytics to Manage Mobile Qual" during the European leg of the Market Research in the Mobile World conference October 8-11 in London (http://www.mrmw.net/venue-london-2013). Participants at the event will see how practical the Text Analytics application is, especially when combined with mobile qualitative tools.

About Civicom Marketing Research Services

Civicom Marketing Research Services (http://www.civi.com/marketingresearch/) is a global innovator when it comes to qualitative research tools, using the latest technology solutions for marketing research. The company works hand in hand with market research firms, facilitating audio and web-based IDIs and Focus Groups, online bulletin boards, mobile qualitative research, respondent recruiting, transcriptions, and translation services that enable projects to have extensive, global reach. For more info, interested parties can call 1-203-413-2423.