Using Sentiment Analysis in Pharma and Biotech

Sentiment Analysis in Pharma Sally Church, Ph.D

Understanding about how people feel about their treatment and disease is critical • PR tools give a big picture from media hits, but are less useful for more granular analysis. • Current buzz metric tools are useful for relative market share of noise, but not for deep analysis. • Traditional qualitative market research has limitations in human analysis. • Quantitative analysis for market segmentation is expensive and usually based on physician rather than patient sentiments. • Rise of science, patient bloggers and social media as an important mediums for evaluating sentiments means we need new and better tools.

What is the basis of our approach? • The underlying philosophy of the Leximancer system is that meaning must be emergent from text and therefore not biased by external pre- definition. • This has resulted in a methodology involving identification of a Thesaurus of supporting defining terms being 'bootstrapped' to an original emergent seed-word, to form a Concept entity. • It is a fully-automated discovery process using the original text corpus.

Analysis can be from private recorded interviews or public information on internet

Control panels allow a deeper analytical framework to be applied by our analysts

Using a Thesaurus of words, +ve or -ve associations can be established

The tool groups together word associations to build a Concept Map

You can also drill down to specifics to look at associations more carefully Unfavourable theme showing symptoms and side effects

We are now working with Pharma clients using the tool in a number of different ways Market Research: • Qualitative interviews • Segmentation Sentiments can be: • Unmet medical needs • Therapies • Diseases PR and Advocacy: • Companies • Media Monitoring • Physicians or Patients • Issues Management • Social Media Outreach

sally@icarusconsultants.com Icarus Consultants, Inc O: 201 204 9210 T: 201 780 2778

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Using Sentiment Analysis in Pharma and Biotech

by Sally Church on Apr 14, 2010

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