the importance of sentiment analysis in 2.0 marketing

The Importance of Sentiment Analysis in 2.0 Marketing

Fabio Lazzarini – Marketing Manager, Cribis D&B

Marcello Pellacani - Partner and Vice President, Expert System

Digital Insurance Strategies, London – March 1st 2012

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Agenda

• About us

• Marketing 2.0: the paradigm shift

• The changing face of customer buying

decisions: from sales reps and brokers

to trusted “voices”

• How semantic technology and a

linguistic approach can allow us to

apply sentiment analysis more widely

and effectively than ever before

• How insurers can mine this

unstructured data proactively to

generate insight and actionable

knowledge

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About us

• CRIF Decision Solutions Ltd.

CRIF Decision Solutions Ltd. was established in the UK in 1997 as part of

the CRIF Group. CRIF Decision Solutions provides added-value solutions

and information services for the UK insurance industry to support

decision-making and prevent fraud.

• CRIBIS D&B

CRIBIS D&B is a highly specialized company with advanced business

information skills. It was set up with the aim of providing both the

Italian market and D&B's global clients with the highest standards of

quality in terms of business coverage, the depth and accuracy of

information, the technological capacity and flexibility to respond quickly

to market demands, as well as in supplying decisional systems and

scoring models.

• Expert System

Expert System is market leader in the development of semantic software

for the understanding and analysis of information. Over the last fifteen

years of activity, we have developed COGITO®, a unique software with

the ability to understand automatically the meaning of each word written

in the language we use everyday to communicate (natural language).

COGITO extracts and analyzes the useful information contained in

thousand of structured and unstructured documents, e-mail messages,

Web pages, articles, SMS text messaging, and more.


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Marketing 2.0 The paradigm shift

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Marketing 1.0

• Transactions

• Press Releases

• Direct Mail

• Collateral

• Seminars

• Websites

• Companies generated

content

Marketing 2.0

• Interactions

• Blog posts

• E-Mail

• Video

• Webinars

• Social Media

• User generated content

PULL PUSH

Digital Insurance Strategies 2012 Fabio Lazzarini - Marcello Pellacani

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Conversation is the new imperative for marketers


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Every good conversation starts with good listening

6 Digital Insurance Strategies 2012 Fabio Lazzarini - Marcello Pellacani

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Every good conversation starts with good listening

“Why Listening & Hearing Are Not The Same Although there is a common belief that customer listening is on the up, I’m not so sure it’s listening that taking place. Instead I think we are doing rather more hearing than we might imagine. This is what I mean. The terms hearing and listening are often used interchangeably in everyday life. Normally that is fine. But in order to learn how to listen effectively, it is important to understand the differences between both activities. Although hearing is a complex process, it is essentially an automatic, passive activity. It is possible to hear sounds without consciously engaging in the process. Whereas, listening requires a conscious effort from you in order to make sense of what another person is saying.” Martin Hill-Wilson Brainfoodextra.com


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Where the conversation are taking place?

Blogs

Social Media

Web Sites

Forums

Communities


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Blogs

Social Media

Web Sites

Forums

Communities

• The web opens up a world of possibilities of being informed, about a product or a service, to our customers

• But in reality all the buyers (both in B2C and in B2B) tend to rely only to few “voices” they know and trust

• These small squares are replacing our salesman, consultants, agents,…


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Blogs

Social Media

Web Sites

Forums

Communities

• The information about our companies, about what our customers want, about what our customers say about us lies outside our firewalls

• What customers are saying about us on blogs, discussion forums, Twitter and Facebook, analyst reviews is what provides a complete picture

• Very often we’re not taking part to these conversations


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Why focus on listening?

Digital Insurance Strategies 2012 11 Fabio Lazzarini - Marcello Pellacani

• Generate customer insight

• Improve marketing

effectiveness

• Increase customer

satisfaction

• Protect brand reputation

• Better market research

effectiveness

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Business is the driver not technology


• Identify and engage key

influencers

• Integrate social data with

voice-of-the-customer

data

• Perform sentiment

analysis at the most

granular level

• Identify product “design”

opportunities

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How a web information intelligence platform and sentiment analysis can help marketers?


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How to listen the voice of the market?

• We don’t need only to search

and filter the web in order to

find the piece of information we

need…

• …we need to see the shape

of the information and

monitor how it moves in

the time


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• We don’t need a

like/don’t like flag…

• …we need actionable

knowledge

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Similar to what Business Intelligence

(BI) is in the world of structured data,

Semantic Intelligence is used to

acquire a better understanding of

market behavior and commercial

context. But unlike BI, Semantic

Intelligence undertakes both the access

to business data already gathered and

stored in fielded form (in databases

and into a data warehouse, for

example) and the access to business

information trapped in all of the kinds

of unstructured texts (such as Web

pages, word documents, bodies of e-

mail messages.)

It’s not possible to listen the voice of the market without semantic technology…

• Semantic Intelligence aims to support

better business decision-making. It refers

to applications that enable the

management of unstructured data,

leveraging semantic technology.

• COGITO, the Expert System revolutionary

technology, offers a complete Semantic

Intelligence platform for business

companies and government organizations.

• COGITO allows computers to understand

the meaning of words, imitating human

intelligence

• Unlike standard systems, limited to the

analysis of keywords without meaning,

COGITO understands the actual meaning

of words, while considering their context


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The limits of traditional approaches

Breaks text into single words without considering the context, like reading a language that we don’t understand:

•Az IBM szokásosan nagy hangsúlyt helyez a továbbképzésre, így munkatársai évente számos szakmai tanfolyamon vesznek részt.

Recognizes words and identifies their most basic forms (lemmas), but cannot distinguish between different meanings.

Sell -> Selling -> Sold

Neither understands the meaning of words

Keyword Technology or Statistics

Shallow Linguistic Technology


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• It understands the relationships between words. Luke (subject) has eaten (verb) a chicken (object).

• It understands the meaning of words. To eat (chicken); to consume (oil); to destroy (sweater); to spend (money); to rust (the tower), etc.

Why we are different

Semantic technology understands the meaning of words in the same way you learned to read.


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What is a semantic network?

A rich map of associations and meanings of words. • Includes all definitions of all words. • Includes relationships between all words.

The quality of results is derived from the richness and complexity of the semantic network.

COGITO® English Semantic Network: • 410,000 words • 310,000 concepts • 2,000,000 relationships


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4 Approaches Definition Example

Morphological Analysis understands word forms dog, dogs, and dog-catcher are closely related

Parsing

(Grammatical Analysis) understands the parts of speech

"There are 40 rows in the table" (noun), vs. "She rows 5 times a week" (verb).

Sentence Analysis understand how words

relate to other words

"Jeffrey Skilling, represented by Attorney Daniel Petrocelli, is married to Rebecca Carter." Rebecca is married to Jeffrey not Daniel.

Semantic Analysis (Disambiguation)

understands the context

of keywords

"I used vegetable stock to make my soup." (stock food) vs. "The company keeps lots of stock on hand."

(stock inventory).

Semantic advantage


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Next generation technology


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New semantic modules for Social Media

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• Improving processing of anaphora, which are used commonly in social media communications,

such as posts on blogs, Facebook, Google+ or Twitter. The interpretation of anaphora is important

for a correct analysis of sentiment among several posts, or even in the same post where

information is not always explicitly expressed. Correct processing of anaphora allows you to

almost double the collection of opinions and sentiment expressed online (i.e., “I love the new

iPhone” and, a few posts later “But I don’t love it any more” where the person is still talking

about the iPhone).

• Refining the analysis of sentences in which there is a comparison between entities, companies

or products (“I think the Fiat 500 is much cooler than the Beetle.”).

• Improving analysis of difficult to interpret information such as that written in ungrammatical

slang or acronyms, which is common in Tweets, Facebook posts and other communications

between friends or limited by 140 characters.

• Distinguishing whether an expression is emotional or intentional (“It would be amazing if that

dress was also in red” or “If there was a grey iPhone I’d buy one right now.”).


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The context of “my” conversations


We need to create

actionable information,

not only searching

information

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The top 5 reason to implement a web information intelligence platform in your company

1. Obtain a deeper customers

insight

2. Increase the effectiveness

of your 2.0 marketing

strategy

3. Provide a greater customer

service support

4. Defend your company

reputation

5. Increase your sales

24/7 monitoring of online conversations lead the marketers to identify how sentiment about your company, or your company, is trending positively or not, discover unexpected opinions and find new sales opportunities


Fabio Lazzarini

[email protected]

flazzarini

@creamweb

Marcello Pellacani

[email protected]

marcellopellacani

the importance of sentiment analysis in 2.0 marketing

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