How long has it been since you last posted to Facebook, Twitter, Reddit or Quora? Maybe you’re checking your Instagram right now. Well, you may not think about it this way very often, but you’re feeding Web 2.0, which in turn is giving rise to a revolutionary new method of decision making based on the content posted online by billions of users.
Sentiment analysis is the process by which all that content can be quantified to represent the ideas, beliefs and opinions of entire sectors of the public. The implications are difficult to understate.
When entered into today’s advance algorithms, the content posted online by private individuals goes from being a seeming endless jumble of chaos to a clear, well-defined image of public opinion and a target group’s way of thinking — priceless information in the hands of a business trying to target the right audience or fine-tune a product to match its users’ needs. Effective sentiment analysis means understanding people better and more accurately than ever before, with far-reaching implications for marketing, research, politics and security.
Businesses today tend to overlook the gift of sentiment analysis. Or perhaps they just don’t grasp its potential. To be fair, most sentiment analysis engines have been highly complex and expensive. For a long time, it was also doubtful how much Web 2.0 represents the sentiments of entire groups since only small portions of society were posting online.
Most businesses currently have a basic understanding that some form of big data is crucial as it can increase operation margin by more than 60%, according to the Mckinsey Global Institute, while just a few big companies run their own bulky sentiment analysis software to gain insight and solicit the advice of crowd wisdom. Smaller companies or individuals have been completely shut out of the process.
But Web 2.0 has matured, and so has the technology to make sentiment analysis cheap and effective. Want to understand what went wrong with your latest product or what users and the general public feel about a specific feature or concept you plan to put into practice? That’s all information that can now be quantified to pinpoint accuracy with ease, eliminating the need for the questionable results of surveys or just plain old guessing.
Senno, a new ICO with big goals for the future, is positioning sentiment analysis as a tool available to everyone as we head into the future. What Senno offers is an open software development kit that uses distributed hardware that allows third parties to integrate highly-advanced sentiment analysis into their own platforms for a fraction of usual costs. Senno also uses blockchain to decentralize the information analyzed to keep it safer and more transparent, alleviating many potential safety and privacy concerns of sentiment analysis. Thanks to Senno and blockchain, sentiment analysis can be used as a base technology for crowd wisdom and business intelligence applications.
Sentiment analysis is the future of big data and Senno is the future of sentiment analysis. It’s time to get on board and take advantage of these opportunities.