Applications of Real-Time Sentiment Analysis For Powerful Business Insights
Prominent applications of real-time sentiment analysis include the extraction of marketing and customer insights from live social video streams, real-time review feeds, and live news and radio broadcasts. Live sentiment analysis also helps with audience engagement analysis, which is used heavily in live corporate events as well as live academic seminars such as at teaching hospitals, business schools, and such.
So let us take a closer look at these various real-time sentiment analysis applications and how different industries use them. We also understand how it differs from traditional sentiment analysis.
What Is Real-Time Sentiment Analysis?
Real-time sentiment analysis is a technique that uses machine learning (ML) so it can identify subjective opinions expressed in live social and online feeds, and derive sentiment from text for audience insights. Applications of real-time sentiment analysis are predominantly in the areas of monitoring brand mentions for market intelligence, tracking keyword mentions for research purposes, or to deter cyberbullying, check negative comments, and such.
How Is Real-Time Sentiment Analysis Different From Sentiment Analysis?
Real-time sentiment analysis is the process of emotion mining from live feeds. This live streaming of data can be from social media or any other digital source in any type of format - text, audio, or video.
The following are three criteria essential for the applications of real-time sentiment analysis.
- The social platform itself needs to have live feed capability such as Twitter does
- There needs to be a live API from the social platform, such as Instagram or Facebook, added to the sentiment mining tool
- And in the case where there is no live API available, such as in news broadcasts or live streaming of lectures or seminars, the tool should have the capability for time-bound repeat scans of the live feed.
Traditional sentiment analysis, on the other hand, is in itself an ML-based technique of mining emotion from data. It could be about a product, service, brand, or topic that may or may not be live, such as survey responses, chatbot histories, hashtags, etc.
You could do a YouTube comments analysis for an existing product review video or get insights from Instagram social listening, and it doesn’t have to be live. This data can be collected from the URL directly, or if you have downloaded the text in an excel file, you can upload it to the sentiment analysis platform for gathering insights.
What Are The Applications Of Real-Time Sentiment Analysis?
Real-time sentiment analysis has several applications for brand experience and customer analysis such as the following.
1. Live social media video feeds
Marketers can gain powerful business insights from the applications of real-time sentiment analysis on live streams of product promotion events on social media. This feature can be instrumental in knowing the market intent in a much more granular way than traditional methods and can be done through live TikTok social listening or during the live relay of a brand amplification event on Instagram like Automotive Expos.
2. Real-time social text feeds
Another great application of live sentiment analysis is for real-time feeds from social media platforms such as Twitter. Whether it’s for a cause-based advertising strategy for social issues if you are a Non-Profit organization, or you want to address negative or wrongful brand social mentions as promptly as you can, real-time sentiment analysis technology is a boon.
3. Influencer marketing analysis
Albeit there are many advantages of Influencer marketing, there are also many vital reasons why brands need to keep a close watch on their Influencers. This obviously includes not only live streams but also Influencer photos and posts. Many organizations have faced backlash due to the mishandling of social media responses along with branding disasters. Celebrity endorsements, too, have faced similar issues. Real-time sentiment analysis enables you to handle these issues professionally and promptly. 4. Live video streams
Live, real-time analysis is also excellent for conducting sentiment mining during live video streams of interviews, news broadcasts, academic and corporate seminars, panel discussions, live events, and lectures. Mega corporate conferences and expos have break-out sessions that are attended by hundreds of invitees. The live-streaming of these sessions gives a chance for audiences to connect and share live events on their social media channels.
This not only helps with brand amplification but also increases audience engagement and interest. Sentiment analysis of this data can give organizers and companies many insights that would not have been discovered if not for live data mining.
The customer experience analysis solution transcribes the audio from these live video streams behind the scenes, and then processes them for sentiment analysis, thus giving you insights as easily as it would for text data.
5. Live audio streams
Applications of real-time sentiment analysis also include live audio streams such as virtual meetings on Zoom or Skype, or at call centers for customer support. This is also great for live podcasts and radio broadcasts, especially for games and events. Similar to how the solution processes the audio in live video streams, it uses the same functionality and transcribes live audio feeds as well for sentiment analysis. 6. Customer review platforms
Live monitoring of product review platforms for brand mentions is extremely beneficial especially if it is around a product launch. Since review platforms like Reddit, GoogleMyBusiness, TripAdvisor, or OpenTable may not have live APIs for the customer feedback analysis solution to track, the solution uses repetitive, time-bound scans of the incoming texts and comments.
7. News Website Scanning
In the same manner, as it does for review forums, real-life sentiment analysis analyzes live news feeds for intelligent insights based on your preferences. It can do this through time-bound scans of keywords and hashtags, or if the news is via a social media channel, it can gather data through the Live API and extract information from it.
Repustate’s customer experience (CX) analysis solution offers you all the advantages of the applications of real-time sentiment analysis so you can get enviable brand and competitor insights that are highly accurate and easy to comprehend. You can access multiple platforms across all data types and get granular insights at speed and scale.
Available in 23 languages, each with its own native speech tagger, the solution is available in the aspect model fitting your industry. What’s more, it gives you the freedom to add or remove aspects and even set alerts for keywords, hashtags, and spikes in mentions without any coding required.