{"id":5070,"date":"2011-11-17T17:00:02","date_gmt":"2011-11-17T17:00:02","guid":{"rendered":"http:\/\/www.questionpro.com\/?p=5070"},"modified":"2011-11-17T17:00:02","modified_gmt":"2011-11-17T17:00:02","slug":"pay-attention-to-sentiment-analysis-its-where-social-media-chatter-is-going","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/pay-attention-to-sentiment-analysis-its-where-social-media-chatter-is-going\/","title":{"rendered":"Romi Mahajan Joins Metavana as Chief Marketing Officer"},"content":{"rendered":"

\"image\"Over the next few months we\u2019re going to be introducing you to the latest trends and tools that will be hitting the market research scene.<\/p>\n

As you get to know these new trends and the people behind them, you\u2019ll notice that they view the world not as a set of independent cogs and wheels forced into the interaction, but as a biological eco system that naturally delivers valuable information that we need to pay attention to.<\/p>\n

The first in our series is Romi Mahajan, a leading expert in the world of market research and technology.\u00a0 Romi hosts the Marketing Access Blog<\/a>, which is part of the Survey Analytics family of brands and he has just recently accepted a position as the Chief Marketing Officer at Metavana. Metavana tunes into the voice of the consumer from diverse web sources to help companies discover and classify expressions of opinion and emotion.<\/p>\n

I chatted with Romi about this new company and the opportunity it presents for business and for market research.<\/p>\n

Romi, what are some of the trends that have been most apparent to you in the world of market research and social media and sentiment analysis?<\/em><\/strong><\/p>\n

When we examine the world today, we see 3 interesting trends that we hope to help corral and tame for the benefit of organizations of any size and consumers eventually.<\/p>\n

    \n
  1. The Social Web is a HUGE source of proliferating data.\u00a0 250M tweets a day, 800K facebook posts an hour, and so on.\u00a0 Amazing amount of data, growing geometrically.<\/li>\n
  2. The data\/content on the Social Web is largely unstructured, asyntatic, ungrammatical, and emotional<\/a> versus binary fact-based.\u00a0 The content is full of \u201caffect\u201d and \u201cemotion\u201d which need to be parsed and understood.<\/li>\n
  3. The Social Web is always on.\u00a0 It\u2019s 24\/7\/365 and it\u2019s world wide.<\/li>\n<\/ol>\n

    And given all of this, what is expressed on The Social Web affects all Brands, all companies, all organizations\u2026\u2026making for an interesting challenge and opportunity!<\/p>\n

    You\u2019ve recently taken a position with Metavana, a new company that\u2019s taken on the challenge of making sense if this kind of data.\u00a0 How can businesses benefit from Metavana?<\/em><\/strong><\/p>\n

    Metavana offers businesses the ability to track consumer opinions about their brands, products, and services; benchmark themselves against competitors; and selectively participate in the dialogs. As a result, they will gain a faster and deeper understanding of innovation and positioning opportunities as well as of whether changing market perceptions are likely to influence buying decisions and other consumers.\u00a0 All businesses need to understand the marketplace, the community, and what their current and prospective customers are saying. It\u2019s really that simple.\u00a0 My job is to make it cost effective and value added for them!!<\/p>\n

    Metavana provides sentiment analysis \u2013 what is that? <\/em><\/strong><\/p>\n

    Sentiment Analysis<\/a> is a way of understanding and making meaning out of this efflorescence of unstructured and emotional content on the web. And it\u2019s important to do because The Social Web is the \u201cnew authorative,\u201d it\u2019s the new driver of trends; we are moving closer to the source of what REALLY drives people to act.<\/p>\n

    We believe that solving this problem is not just about smart Engineering. We believe it\u2019s a fundamental Physics and Non-Linear Mathematics problem.\u00a0 Furthermore, it\u2019s all about quick-turn categorization and helping organizations act on real insights\/meaning.\u00a0 Furthermore, it requires considerable business model innovation in which Voice of the Customer becomes everyone\u2019s job and is not a sequestered, episodic, and one-off project.\u00a0 So we believe we have the one-two punch.<\/p>\n

    What are the risks of not paying attention to sentiment analysis?<\/em><\/strong><\/p>\n

    Let me ask a slightly different question.\u00a0 What are the risks of not having finance or not having telephones?\u00a0 The fact is that companies can choose to know what their current or prospective customers are saying and feeling or not… but my admonition would be if you decide not to, do so with the clear awareness that you\u2019ll be left behind by others who are employing smart sentiment.<\/p>\n

    Sentiment Analysis is the Next Big Thing \u2013 Are You Ready?<\/strong><\/p>\n

    Text analysis isn\u2019t new anymore and making sense of the social media chatter was last year\u2019s trend.\u00a0 If you haven\u2019t been paying attention to that \u2013 you are already behind.\u00a0 Take note of the term \u201cSentiment Analysis\u201d and start thinking about how not knowing what\u2019s being said about your business and your brand and the emotions behind it can effect profitability.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Over the next few months we\u2019re going to be introducing you to the latest trends and tools that will be […]<\/p>\n","protected":false},"author":128,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[304,341,191,210],"tags":[],"yoast_head":"\nRomi Mahajan Joins Metavana as Chief Marketing Officer | QuestionPro<\/title>\n<meta name=\"description\" content=\"Over the next few months we\u2019re going to be introducing you to the latest trends and tools that will be hitting the market research scene. 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