The Importance of      Sentiment Analysis      in 2.0 MarketingFabio Lazzarini – Marketing Manager, Cribis D&BMarcello Pel...
© 2012           Agenda •       About us •       Marketing 2.0: the paradigm shift •       The changing face of customer b...
© 2012             About us •       CRIF Decision Solutions Ltd.            CRIF Decision Solutions Ltd. was established ...
© 2012             Marketing 2.0             The paradigm shift         Marketing 1.0                                     ...
© 2012         Conversation is the new imperative for marketers                      Digital Insurance Strategies 2012   5...
© 2012         Every good conversation starts with good listening                      Digital Insurance Strategies 2012  ...
© 2012         Every good conversation starts with good listening           “Why Listening & Hearing Are Not The Same     ...
© 2012         Where the conversation are taking place?                                                              Web S...
© 2012         Where the conversation are taking place? •       The web opens up a         world of possibilities of      ...
© 2012         Where the conversation are taking place?                                                                   ...
© 2012         Why focus on listening?    • Generate customer insight    • Improve marketing          effectiveness    • I...
© 2012         Business is the driver not technology    • Identify and engage key          influencers    • Integrate soci...
© 2012         How a web information intelligence platform and         sentiment analysis can help marketers?             ...
© 2012         How to listen the voice of the market?                                       • We don’t need only to search...
© 2012         How to listen the voice of the market?                       Digital Insurance Strategies 2012   15   Fabio...
© 2012         How to listen the voice of the market?                              • We don’t need a                      ...
© 2012         It’s not possible to listen the voice of the market         without semantic technology…    •    Semantic I...
© 2012         The limits of traditional approaches             Keyword Technology                                        ...
© 2012            Why we are different         Semantic technology understands the meaning of         words in the same wa...
© 2012          What is a semantic network?  A rich map of associations and meanings of words.       • Includes all defini...
© 2012         Semantic advantage           4 Approaches                              Definition                          ...
© 2012         Next generation technology                      Digital Insurance Strategies 2012   22   Fabio Lazzarini - ...
© 2012         New semantic modules for Social Media • Improving processing of anaphora, which are used commonly in social...
© 2012         Understanding content …                    Digital Insurance Strategies 2012   24   Fabio Lazzarini - Marce...
© 2012           … not everyone …         “Non semantic” technology:         one negative cancels out one positive.       ...
© 2012         Semantic sentiment analysis                     Digital Insurance Strategies 2012   26   Fabio Lazzarini - ...
© 2012         Semantic sentiment analysis                                                                                ...
© 2012         The context of “my” conversations                                                                          ...
© 2012         The sentiment pattern                                                                                      ...
© 2012         Conduct sentiment analysis at granular level                                                               ...
© 2012           The top 5 reason to implement a web information           intelligence platform in your company         1...
Fabio Lazzarini f.lazzarini@crif.com flazzarini @creamwebMarcello Pellacani mpellacani@expertsystem.it marcellopellacani
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The importance of sentiment analysis in 2.0 marketing

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The importance of sentiment analysis in 2.0 marketing
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• The role of social media and online communities in developing customers’ image of your brand• How insurers can mine this unstructured data proactively to generate insight and actionable knowledge

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The importance of sentiment analysis in 2.0 marketing

  1. 1. The Importance of Sentiment Analysis in 2.0 MarketingFabio Lazzarini – Marketing Manager, Cribis D&BMarcello Pellacani - Partner and Vice President, Expert System Digital Insurance Strategies, London – March 1st 2012
  2. 2. © 2012 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 Digital Insurance Strategies 2012 2 Fabio Lazzarini - Marcello Pellacani
  3. 3. © 2012 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&Bs 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. Digital Insurance Strategies 2012 3 Fabio Lazzarini - Marcello Pellacani
  4. 4. © 2012 Marketing 2.0 The paradigm shift Marketing 1.0 Marketing 2.0 • Transactions • Interactions • Press Releases • Blog posts • Direct Mail • E-Mail • Collateral • Video • Seminars • Webinars • Websites • Social Media • Companies generated • User generated content content PUSH PULL Digital Insurance Strategies 2012 4 Fabio Lazzarini - Marcello Pellacani
  5. 5. © 2012 Conversation is the new imperative for marketers Digital Insurance Strategies 2012 5 Fabio Lazzarini - Marcello Pellacani
  6. 6. © 2012 Every good conversation starts with good listening Digital Insurance Strategies 2012 6 Fabio Lazzarini - Marcello Pellacani
  7. 7. © 2012 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 Digital Insurance Strategies 2012 7 Fabio Lazzarini - Marcello Pellacani
  8. 8. © 2012 Where the conversation are taking place? Web Sites Communities Social Media Forums Blogs Digital Insurance Strategies 2012 8 Fabio Lazzarini - Marcello Pellacani
  9. 9. © 2012 Where the conversation are taking place? • 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 Web Sites know and trust Communities • These small squares are Social replacing our salesman, Media consultants, agents,… Forums Blogs Digital Insurance Strategies 2012 9 Fabio Lazzarini - Marcello Pellacani
  10. 10. © 2012 Where the conversation are taking place? • 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 Web Sites blogs, discussion Communities forums, Twitter and Facebook, analyst Social reviews is what Media provides a complete Forums picture Blogs • Very often we’re not taking part to these conversations Digital Insurance Strategies 2012 10 Fabio Lazzarini - Marcello Pellacani
  11. 11. © 2012 Why focus on listening? • Generate customer insight • Improve marketing effectiveness • Increase customer satisfaction • Protect brand reputation • Better market research effectiveness Digital Insurance Strategies 2012 11 Fabio Lazzarini - Marcello Pellacani
  12. 12. © 2012 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 Digital Insurance Strategies 2012 12 Fabio Lazzarini - Marcello Pellacani
  13. 13. © 2012 How a web information intelligence platform and sentiment analysis can help marketers? Digital Insurance Strategies 2012 13 Fabio Lazzarini - Marcello Pellacani
  14. 14. © 2012 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 Digital Insurance Strategies 2012 14 Fabio Lazzarini - Marcello Pellacani
  15. 15. © 2012 How to listen the voice of the market? Digital Insurance Strategies 2012 15 Fabio Lazzarini - Marcello Pellacani
  16. 16. © 2012 How to listen the voice of the market? • We don’t need a like/don’t like flag… • …we need actionable knowledge Digital Insurance Strategies 2012 16 Fabio Lazzarini - Marcello Pellacani
  17. 17. © 2012 It’s not possible to listen the voice of the market without semantic technology… • Semantic Intelligence aims to support Similar to what Business Intelligence better business decision-making. It refers (BI) is in the world of structured data, to applications that enable the Semantic Intelligence is used to management of unstructured data, acquire a better understanding of leveraging semantic technology. market behavior and commercial • COGITO, the Expert System revolutionary context. But unlike BI, Semantic technology, offers a complete Semantic Intelligence undertakes both the access Intelligence platform for business to business data already gathered and companies and government organizations. stored in fielded form (in databases • COGITO allows computers to understand the meaning of words, imitating human and into a data warehouse, for intelligence example) and the access to business • Unlike standard systems, limited to the information trapped in all of the kinds analysis of keywords without meaning, of unstructured texts (such as Web COGITO understands the actual meaning pages, word documents, bodies of e- of words, while considering their context mail messages.) Digital Insurance Strategies 2012 17 Fabio Lazzarini - Marcello Pellacani
  18. 18. © 2012 The limits of traditional approaches Keyword Technology Shallow Linguistic or Statistics Technology Breaks text into single words Recognizes words and identifies without considering the their most basic forms context, like reading a (lemmas), but cannot language that we don’t distinguish between different understand: meanings. •Az IBM szokásosan nagy hangsúlyt Sell -> Selling -> Sold helyez a továbbképzésre, így munkatársai évente számos szakmai tanfolyamon vesznek részt. Neither understands the meaning of words Digital Insurance Strategies 2012 18 Fabio Lazzarini - Marcello Pellacani
  19. 19. © 2012 Why we are different Semantic technology understands the meaning of words in the same way you learned to read. • 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. Digital Insurance Strategies 2012 19 Fabio Lazzarini - Marcello Pellacani
  20. 20. © 2012 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 Digital Insurance Strategies 2012 20 Fabio Lazzarini - Marcello Pellacani
  21. 21. © 2012 Semantic advantage 4 Approaches Definition Example dog, dogs, and dog-catcher Morphological Analysis understands word forms are closely related Parsing "There are 40 rows in the understands the parts of speech table" (noun), vs. "She rows 5 (Grammatical Analysis) times a week" (verb). "Jeffrey Skilling, represented understand how words by Attorney Daniel Petrocelli, Sentence Analysis is married to Rebecca relate to other words Carter." Rebecca is married to Jeffrey not Daniel. "I used vegetable stock to make my soup." (stock food) Semantic Analysis understands the context vs. "The company keeps lots (Disambiguation) of keywords of stock on hand." (stock  inventory). Digital Insurance Strategies 2012 21 Fabio Lazzarini - Marcello Pellacani
  22. 22. © 2012 Next generation technology Digital Insurance Strategies 2012 22 Fabio Lazzarini - Marcello Pellacani
  23. 23. © 2012 New semantic modules for Social Media • 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.”). Digital Insurance Strategies 2012 23 Fabio Lazzarini - Marcello Pellacani 23
  24. 24. © 2012 Understanding content … Digital Insurance Strategies 2012 24 Fabio Lazzarini - Marcello Pellacani
  25. 25. © 2012 … not everyone … “Non semantic” technology: one negative cancels out one positive. Digital Insurance Strategies 2012 25 Fabio Lazzarini - Marcello Pellacani
  26. 26. © 2012 Semantic sentiment analysis Digital Insurance Strategies 2012 26 Fabio Lazzarini - Marcello Pellacani
  27. 27. © 2012 Semantic sentiment analysis Overall sentiment Positive insight Negative insight Digital Insurance Strategies 2012 27 Fabio Lazzarini - Marcello Pellacani
  28. 28. © 2012 The context of “my” conversations We need to create actionable information, not only searching information Digital Insurance Strategies 2012 28 Fabio Lazzarini - Marcello Pellacani
  29. 29. © 2012 The sentiment pattern We need to create actionable information, not only searching information Digital Insurance Strategies 2012 29 Fabio Lazzarini - Marcello Pellacani
  30. 30. © 2012 Conduct sentiment analysis at granular level We need to create actionable information, not only searching information Digital Insurance Strategies 2012 30 Fabio Lazzarini - Marcello Pellacani
  31. 31. © 2012 The top 5 reason to implement a web information intelligence platform in your company 1. Obtain a deeper customers 24/7 monitoring of online conversations lead the insight marketers to identify how sentiment about your company, or your company, is trending positively or not, discover unexpected opinions 2. Increase the effectiveness and find new sales opportunities of your 2.0 marketing strategy 3. Provide a greater customer service support 4. Defend your company reputation 5. Increase your sales Digital Insurance Strategies 2012 31 Fabio Lazzarini - Marcello Pellacani
  32. 32. Fabio Lazzarini f.lazzarini@crif.com flazzarini @creamwebMarcello Pellacani mpellacani@expertsystem.it marcellopellacani

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