At the foundation of our products is Opinion Miner software © that uses self-training algorithms to discern, amplify and measure raw data to produce structured information and metrics – signals out of noise. We began by using customer reviews about consumer electronics products because we had so much “ore” to work with. No other category of products (I don’t view books and movies as products) seem to be blessed with such an active customer following. We also wanted to concentrate on generating actionable signals, that I imagine excludes mining opinions about brands – as a brand reputation is aggregation of what customers experience with products that are associated with the brand. Here is one example of results we managed to produce so far
I believe such information can really help marketing dollars work much smarter by
- focusing promotional resources on the products that win customer advocacy because it grows your business;
- learn why consumers chose your competitor’s product over yours and make changes;
- sync marketing message with what your customers value the most – not what your product managers think is cool.
So now, after sharpening Opinion Miner’s © “teeth” on plentiful customer reviews of CE and Computer products we would like to start experimenting on different type of WOM, like restaurant reviews or reputation of specific services. Any ideas or suggestions from you, private or public would be greatly appreciated.