Sentiment Analysis is being widely used in areas like data mining, chatbots in business websites, social media analytics, etc. Sentiments are the most essential characteristics to determine human behavior. Sentiments, views, opinions, feedbacks can be positive, negative, or neutral or they can be segregated into any category of interest in the context of your business model.
Nowadays, Social media is probably the biggest platform out there that facilitates millions of customer engagements with products and services provided by countless service providers. In that context, social media platforms are enabling the customers to connect with their service providers and vice versa. For any business, customer feedbacks are essential to constantly improve their products and services.
Not directly in a business perspective, rather we can talk about sentiment analysis being used for reading the mentality of people reacting to certain news topics, or their opinions regarding a political debate or their reactions to a certain sporting event, Though the data generated from these events will then be utilized somewhere down the road to fit into a certain business strategy.
Crisis prevention can be managed with the power of sentiment analysis by implementing real-time customer sentiment collections and analysis. if negative customer sentiments are detected by algorithms, organizations can interact with the unhappy customers to prevent further escalations of those underlying issues.