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

© 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

© 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&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

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


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Conversation is the new imperative for marketers


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Every good conversation starts with good listening


© 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

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Where the conversation are taking place?

Web Sites

Communities

Social
Media
Forums

Blogs


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• 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


© 2012


• 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


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Why focus on listening?

• 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


© 2012


• We don’t need a
like/don’t like flag…

• …we need actionable
knowledge


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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.)

© 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


© 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.


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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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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).


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Next generation technology


© 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.”).


23

© 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


Fabio Lazzarini
f.lazzarini@crif.com
flazzarini
@creamweb

Marcello Pellacani
mpellacani@expertsystem.it
marcellopellacani

The importance of sentiment analysis in 2.0 marketing

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