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10 best tools for Sentiment Analysis from free to fee 0

Posted on January 02, 2017 by Rob Petersen

Sentiment Analysis

Sentiment Analysis extracts relevant actionable information and “overall” attitude of customers toward specific product, service or topics from unstructured  data without reading thousands of documents manually, thus saving valuable time and resources.

Sentiment Analysis is a key metric in many industries for gauging reaction to a new product or services, identifying major difficulties that customers are experiencing in a product, identifying root causes of quality issues and gaining inputs for marketing campaigns. Many consider Sentiment Analysis an essential element for any company doing Social Media Monitoring.

Is a Sentiment Analysis something that has value for your business? Then, here are the 10 best tools for a Sentiment Analysis from fee to free.

Apache NiFi - Sentiment Analysis

APACHE HADOOP: Is an open source framework for distributed storage and processing of large sets of data on commodity hardware. Hadoop enables businesses to quickly gain insight from massive amounts of structured and unstructured data. A wide variety of companies and organizations use Hadoop for both research and production. Apache NiFi supports powerful and scalable directed graphs of data routing and transformation.

Brandwatch - Sentiment Analysis

BRANDWATCH: Get deep insights into consumer opinion on any topic from across the social web. Brandwatch can deliver a huge amount of data for analysis. Its extensive filters and customizable reports make that data easy to analyze and put to use for marketing campaigns, product research and reputation management. It’s especially good for agencies or businesses with multiple users with different needs.

Cision - Sentiment Analysis

CISION: Monitor conversations across social channels including Twitter, Instagram, Pinterest, YouTube, Google+, Tumblr, Foursquare, and more. Identify performance trends and insights with social media listening. Manage and track your brand’s reputation by exploring what people are saying about your business across a variety of social platforms. Identify leads, gauge the impact of your tactics and determine how you stack up against the competition.

Critical Mention - Sentiment Analysis

CRITICAL MENTION: Analyzes your saved searches so you can gain qualitative and quantitative insight into media coverage. Benchmark against competitors, drill in on stories with negative and positive sentiment, spot themes using word clouds, and visualize density of coverage on maps.

Google Alerts - Sentiment Analysis

GOOGLE ALERTS: Is a free, simple and very useful way to monitor your search queries. I use it to track “content marketing” and get regular email updates on the latest relevant Google results. This is a good starting point for tracking influencers, trends and competitors.

Hootsuite - Sentiment Analysis

HOOTSUITE: A great freemium tool that allows you to manage and measure your social networks. Understand how people feel about your brand and then easily filter results by location, language, and gender—for a multi-dimensional view of your market segments. Hootsuite Insights accesses real-time data from over 100 million sources in 50+ languages across 25+ social networks and other platforms.

`Hortonworks - Sentiment Analysis

HORTONWORKS: Enable an organization to manage all data, data-in-motion and data-at-rest to empower action intelligence for your organization whether the data is in the data center or in cloud. Hortonworks uses Hive to analyze the social sentiment after we have finished collecting our data from Apache NiFi. Meltwater - Sentiment Analysis

MELTWATER: Assess the tone of the commentary as a proxy for brand reputation and uncover new insights that help you understand your target audience. Stay on top of billions of real-time editorial, blog, and social media conversations, and extract the insights you need to understand and drive brand perception for your company.

OpenText - Sentment Analysis

OPEN TEXT: Sentiment Analysis module is a specialized classification engine used to identify and evaluate subjective patterns and expressions of sentiment within textual content. The analysis is performed at the topic, sentence, and document level and is configured to recognize if the opinion expressed within these pieces of content are positive, negative, mixed, or neutral. Combining machine learning with natural language processing techniques, the OpenText Sentiment Analysis module is one of the most powerful engines available out of the box.

Statsoft - Sentiment Analysis

STATSOFT: Sentiment Analysis Solution provides cutting-edge analysis tools allowing innovative businesses to extract meaningful patterns and information through Statistica’s powerful state-of-the-art Statistical Natural Language Processing methods (SNLP).  With Statistica advanced modeling algorithms and massively parallel and in-memory processing, SNLP can be applied easily to large volumes of documents in virtually any databases and repositories to efficiently score large numbers of records.

Sentiment Analysis plays an important role in the measurement of any communication program. Are these tools you would use for Sentiment Analysis? Would you include any others?

10 very real reasons polls get it wrong 0

Posted on November 13, 2016 by Rob Petersen

polls

Polls are a record of public opinion. Here are polls taken on Monday, November 7, the day before election day, from very reliable organizations.

  • Clinton 44%, Trump 41%, Johnson 4%, Stein 2% (Bloomberg)
  • Clinton 44%, Trump 39%, Johnson 6%, Stein 3% (Reuters/Ipsos)
  • Clinton 45%, Trump 41%, Johnson 5%, Stein 2% (Economist)
  • Clinton 48%, Trump 44%, Johnson 3%, Stein 2% (FOX News)

What happened?

Polls have been a part of elections since the country was founded. The language of the Declaration of Independence requires we function with “the consent of the governed.” But this election shook up a lot of things. One of them was our faith in polls.

Should we conclude polls and the people who conduct now don’t know what they’re doing? Or, is it that good analysis is always depends on quality data and a sound methodology.

Judge for yourself. Here are 10 very real reasons polls get it wrong.

  1. SAMPLING: Probability sampling is the fundamental basis for all polls. The basic principle: A randomly selected small sample of a population represents the attitudes, opinions and projected behavior of all people. But random samples almost never occur organically.
  2. SAMPLE RESPONSE RATES. For example, women and older Americans tend to answer the phone more often. This is how most polls are still conducted. This throws off the sex and age ratios of the sample. Instead of relying exclusively on random number dialing, pollsters take the extra step of adjusting or weighting results to match the demographic profile of likely voters.
  3. NON-RESPONSE RATES: Adding to problem of creating a random sample, response rates are way down. In 1997, Pew Research, a very well respected research and polling organization, saw telephone response rates were 36%. By 2012, Pew reported a downward trend to an average response rate of 9%.
  4. WEIGHTING: Since it is virtually impossible for a company conducting polls to expect a random sample much less that participants even answer their phones, weights are assigned to demographic characteristics of the total sample of respondents to match the latest estimates of demographic characteristics available from the U.S. Census Bureau. Weighting has a major impact on the results of polls.
  5. CENSUS RESULTS: Census results reflect hard facts such as age, race, address and family size. They do not reflect characteristics like religion and group affiliations. Beliefs and values that are more likely to determine people’s actions.
  6. BRADLEY EFFECT: We don’t always say in polls what we do. It’s called the Bradley Effect, after Tom Bradley, an African-American candidate for governor of California in 1982. Polls incorrectly predicted he would win. Looking back, experts think that’s because people told pollsters they would vote for Bradley, even though they didn’t plan to, in order to avoid sounding racist.
  7. PHONE SURVEYS: The majority of political polls are still surveys done by phone. That’s because someone’s email is more private and protected than their phone number. Surveys conducted over the phone are a pretty antiquated way to conduct research in the computer age. On the phone, the Bradley effect is more likely to occur than online because someone else is hearing and recording your answers. CNET reported Trumps polls a lot better online than in a polls conducted over the phone.
  8. GROUPS: Census numbers can tell us how many Asian-Americans live in a particular state. They can’t reliably tell us how many conservatives or evangelicals are in that state or groups that systematically exclude themselves from polls at higher rates than other groups. There’s no easy way to fix the problem and know the group that someone belongs.
  9. MULTIPLE AFFILIATIONS: Even if pollsters could reliably align weighted samples with groups, none of us are singularly dedicated to one group. We have multiple affiliations. We belong to a particular religion, participate at a certain level in community affairs and have specific views on the environment. So, even if polls could accurately correlate Census information with groups, there are multiple factors and sub-segments to consider.
  10. EXIT POLLS: In any race, there is a fascination with who is likely to be the winner. So there are exit polls to gauge how the race is going. They’re usually based on a sample of a few dozen precincts or so in a specific state, sometimes not even including many more than 1,000 respondents. Like every other type of survey, they’re subject to a margin of error because of sampling and additional error resulting from various forms of response bias.

Did these reasons explain to you how polls get it wrong? Does your organization need guidance understanding data and its results?

 

7 straightforward steps to measure and manage success 0

Posted on August 14, 2016 by Rob Petersen

measure and manage success

“If you can’t measure it, you can’t mange it.” – Peter Drucker

Management consultant, educator and author Peter Drucker, who is often associated with this quote, means you can’t know whether or not you are successful unless success is defined and tracked.

Without clear metrics for success, you’ll never quantify progress and be able to adjust your process to reach your goal. You’ll always be guessing.

How do you get there?

Here are 7 straightforward steps to measure and manage success with plenty of examples.

1. DEFINE WHAT SUCCESS LOOKS LIKE: Success is the achievement of an action within a specified period of time by a specified parameter. Begin with the end in mind. Success looks different based on the type of business and vision of its leadership, but it can’t measured if it can’t be articulated. Here are some examples.

  • Find new customers and get a larger market share than competitors
  • Improve closing ratio from 30 percent to 45 percent
  • Convert 10% of prospect into customers within a year
  • Reduce employee turnover by 25%
  • Earn a substantial return on investment for shareholders who risked their capital in the venture
  • Do ordinary things extraordinary well – Jim Rohn
  • Doing it for yourself and motivating others to work with you in bringing it about – Richard Branson

2. DECIDE WHAT TO MEASURE: “What gets measured gets done” is attributed to Peter Drucker, Tom Peters, Edwards Deming, Lord Kelvin and others. Somebody believes deciding what to measure achieve results. To decide, choose activities and services at the core of what you do and your biggest costs of doing business Think about how they will make your business successful or how they could be improved. Some examples of what to measure are:

  • Number of new leads, sign ups or subscriptions
  • Conversions of leads to sales
  • Sales from returning customers
  • Number of customer complaints
  • Number of returned items
  • Time it takes to fill an order
  • Percentage of incoming calls answered within 30 seconds

3. GET ON TOP OF FINANCIAL MEASURES: In order to achieve success, you need to know how it has to be understood financially. Cash flow is of fundamental importance and can be a particular concern for growing businesses. Most businesses target profits as the key financial metric. It’s important to know how to measure profitability. Key profitability measures to know are:

  • GROSS PROFIT MARGIN: How much money is made after direct costs of sales have been taken into account.
  • OPERATING MARGIN: How much does it cost for the business to run. Overheads are taken into account, but interest and tax payments are not. For this reason, it is also known as the EBIT (earnings before interest and taxes) margin.
  • NET PROFIT MARGIN: When all costs are taken into account, not just direct ones. So all overheads, as well as interest and tax payments, are included in the profit calculation.

4. SELECT KPIs: Key Performance Indicators (KPIs) are business metrics tied to targets. They are used to evaluate factors that are critical to success. KPIs are the actionable scorecard that keeps business strategy on track. KPIs are applicable to your growth cycle and identity your target audience considering their point of view. They are the measurements that matter. Some examples are:

  • Number of new accounts over a specific time period compared to past performance
  • New revenue measured against the money investing in new marketing campaigns
  • Sell-off of investory in a given year
  • Customer acquisition cost
  • Customer lifetime value
  • Sales by region
  • Employee turnover rate

5. LISTEN TO CUSTOMERS: Measurements are based on your needs but, if your needs include your customers, you won’t achieve success unless you listen to their needs. Consider their individuals need, what they think of your brand, your competition and what their future needs are. Some examples of measurements that show you’re listening to customers are:

  • Customer acquisition cost
  • Churn Rate
  • Net Promoter Score
  • Number of customer complaint
  • Time to resolution
  • Customer engagement
  • Annual customer value
  • Lifetime customer value

6. ASSESS EMPLOYEE PERFORMANCE: A company is only as good as the talent behind it. Consistently and accurately evaluating employee performance is essential not only to individual success, but to the overall success of an organization.

  • Employee turnover rate
  • Percentage of responses to open position
  • Employee satisfaction
  • Qualtity of work
  • Employee efficiency
  • Revenue from new ideas and innovation from employees

7. COMPARE AGAINST OTHER BUSINESSES: One of the best ways to keep your business operating successfully is by continually measuring and comparing its performance against competitor averages. Some basic but important measure of comparison include:

  • Sales
  • Market share
  • Channels of distribution
  • New products and/or product improvements
  • Website visits
  • Employee satisfaction

Are these steps straightforward enough for you? Is there anything else you would include? Does your business need help measuring and managing success.

10 best KPI dashboard templates to keep strategy on track 0

Posted on August 01, 2016 by Rob Petersen

KPI Dashboard Templates

A KPI (Key Performance Indicator) is a metric tied to a target. It demonstrates how effectively a business is doing at achieving its objectives. Good KPIs act as a compass guiding an organization on the right path to success.

KPI dashboard templates simplify complex data sets through data visualization to provide at a glance awareness of current performance to help make better business decisions.

Which ones should you consider?

Here are the 10 best KPI dashboard templates to keep your business strategy on track.

DATABOX:

KPI Dashboard Templates - Databox

Databox allows you to create your own database or import an existing database from any source.You can add Images to your data, select your style, fonts, colors and then publish your database for the web – including On-Line Searching of your published data. Databox is a mobile-first business analytics platform built to help you understand what’s going on with your business. Supported by many visualization types (line, bar, pie charts, funnels, tables, …), you can present your data on your office TV, and collaborate and discuss your metrics with others

DOMO:

Domo - KPI Dashboard Templates

Domo Combines a powerful backend that sits on top of and connects into any existing system where data lives, including those for customer relationship management, enterprise resource planning, human resources and financials, as well as any data repository or current reporting system. is a great self-service business intelligence (BI) tool that offers a wide data set, connector support and delivers a unique set of social collaboration tools as well. Domo seems to be best suited for situations in which a team is sharing a dashboard on key metrics.

DUNDAS

KPI Dashboard Templates - Dundas

Dundas BI is a next-generation business intelligence platform that was released in 2014. It combines both business intelligence and analytics tools into one platform that can be accessed as a standalone or easily embedded into other applications. The flexible and scalable solution has a strong focus on self-service, meaning any user can analyze data and create dashboards regardless of job role or technical BI skill. It has drag and drop abilities and can also be fully customized.

iDASHBOARDS

KPI Dashboard Templates - iDashboards

iDashboards address the needs of organizations worldwide seeking an intuitive, collaborative way to view and analyze their critical business information. Because it’s so simple to learn and navigate, iDashboards cuts back on the extensive training time typically associated with complex Business Intelligence solutions. iDashboards is a great fit for financial services, government, healthcare, manufacturing, and retail, but can be applied to many other industry verticals.

KLIPFOLIO

KPI dashboard template - Klipfolio

Klipfolio is a fully cloud dashboard application that enables real-time visibility into the data and KPIs behind your business, so that you can improve performance, relentlessly. Connect to hundreds of data sources online and offline, including: (a) web applications like Twitter, Moz and Google Analytics. Dashboards built in Klipfolio can be easily shared and viewed on browsers, wall-mounted TVs and mobile devices (iOS and Android).  Klipfolio dashboard software is used by a wide variety of businesses, big and small, and by professionals working in a variety of roles, from marketing and sales to BI, consulting and executive management.

QLIK

KPI Dashboard Template - Qlik

Qlik’s unique selling points are that it ranks highest in customer loyalty, provides satisfactory performance, offers a wide variety of features, and is known for its product quality and overall market position. Qlik is probably of the few visualization tools that offers an integrated BI platform and comes bundled with adequate demos, training manuals, and tutorials that can easily fascinate clients and new customers, giving them insight in a fraction of the time they expect.

SISENSE

KPI Dashboard Template - Sisense

Sisense is an end-to-end business intelligence (BI) solution that was developed to be accessible for any type of user, even those with little or no prior experience with BI software. Their full suite of applications provide users with the tools they need to manage and support business data with analytics, visuals and reporting. This out-of-the-box system doesn’t require lengthy implementation or training, so businesses can have it up and running quickly. Sisense was chosen as one of the Top 10 BI Vendors of 2013 by CIO Magazine and “Best in Show” at the O’Reilly Big Data Strata conference.

TABLEAU

KPI dashboard templates - Tableau

Tableau is tailored to meet the needs of anyone looking to explore and analyze key business data, regardless of technical or analytical background. Tableau has taken years of research and built best practices right into the solution. Tableau has become an industry standard with the a bility to connect many data sources and create impressive looking visualizations easily. The interface feels much more modern than some of its competitors.

THOUGHTSPOT

KPI Dashboard Templates - ThoughtSpot

ThoughtSpot has a user interface driven by a search bar, much as a user of Google experiences, and natural language queries can be entered using the language of the business concerned. Combining a search oriented approach with BI is really quite innovative, especially as the dominant paradigm right now is a drag and drop graphical interface. ThoughtSpot is growing quite quickly, and saw 800% growth last financial year – so the approach is clearly attractive to business users. ThoughtSpot has also made it into Gartner’s Magic Quadrant.

ZOHO

KPI Dashboard Templates - Zoho

Zoho CRM has a version for both enterprises and small businesses. Each has its own pricing model, with several options available for SMBs. The software is geared toward any business that has a need for customer relationship management. Primarily sales organizations will benefit from Zoho CRM’s features. One other distinguishing feature is Zoho has never acquired any venture capital, angel investors, or loans. They are entirely a bootstrap operation,

Do these KPI dashboard template give you a good idea of what’s available? Would you add any others? Does your organization need guidance with KPIs and KPI dashboards?

 

12 inspiring social media monitoring case studies 2

Posted on July 10, 2016 by Rob Petersen

social media monitoring case studies

  • 90% of marketers say social media is important to their businesses.
  • 68% analyze their social media activities.
  • Only 41% are able to measure their social activities. (Social Media Examiner)

The numbers indicate almost all businesses now rely on social media for marketing, but less than half can measure if it’s working.

Social media monitoring is the act of using a tool to listen and measure what is being said about a business or key topic on the internet; monitoring media not just from traditional publishers, but on the great majority of social sites too. Many providers have created tools to facilitate analysis of social media channels.

But before you pick a tool to analyze, shouldn’t you decide what’s most important to measure?

Here are 12 inspiring social media monitoring case studies.

  1. ARBY’S: Noticed comments through social media about meats other than roast beef.  This valuable feedback came from their own customers when they launched their “Meat Mountain” campaign poster showing all different meats other than roast beef. Their customers mistakenly thought it was a new sandwich and through social media, indicated they were anxious to try it. Thus the birth of Arby’s new $10 Meat Mountain sandwich.
  2. BARCLAY: Launched a mobile banking application called PingIt. In the days following the launch, Barclays made significant changes to the app as a result of real-time social media analysis. Sentiment Analysis revealed a small proportion of mentions were negative. It was quickly apparent that many users were unhappy the app didn’t work for under 18’s. It wasn’t only teenagers that were unhappy, but also parents that couldn’t transfer money to them. This could easily create a PR disaster, but the data allowed Barclays to act quickly. Within the week 16 and 17 year-olds were given access to the app, showing the business value of quick responsiveness to customer feedback.
  3. CISCO: Tracked ongoing topics, trends and sentiment to support short-term listening goals such as a launching a new business initiative, such as its sponsorship of the summer Olympics, or its annual trade show, Cisco Live. They got closer to our customers and focused on how to monitor, respond, and triage conversations. Cisco reported they achieved 281% ROI through social listening.
  4. DELL: Had a online community called Idea Storm. This was a community in which Dell invited customers to come and share ideas product improvements they want. To date, there have been close to 550 different ideas from this community that have been implemented in Dell products.
  5. GATORADE: Launched Mission Control, where they monitor social media posts 24 hours a day. It has improved their marketing. The company extended an “Evolve” 60-second ad tune into a full-length track available for download in response to frequent questions like “Who sings that song?” Gatorade also used Mission Control to bulk up production of its recovery drinks because of complaints it was selling out.
  6. H&M: Ran four major campaigns that each featured difference celebrity spokespeople. By measuring the volume of conversation following the campaigns, H&M found that the success of their endorsements depended on their geographical markets. It showed how different cultures and customs can affect how an audience receives your marketing campaigns. And how markets with limited engagement may benefit from a different approach.
  7. HP: Decided to turn directly to their customers to ask what how they wanted to be “fed.” HP customers were most concerned with the steady cadence of posts. They clearly stated that they didn’t want or need to hear from them everyday.  Rather, they wanted their content all at once, condensed and concise. HP created their own online magazine, Hpmatters.com, where customers could turn to once a month to get their dose of content.
  8. KMART: Measured online reactions from an ad released across different channels at different time periods. By comparing social media reactions (via sentiment and volume) across various networks, Kmart was able to determine the effectiveness of an advertisement online, on television, and the reaction after a follow-up advertisement.
  9. MONEYGRAM: A leading money transfer company, wanted to globally evaluate at a glance where the conversations about their industry, products and competitors were happening online. By monitoring the share of voice in the past month alongside the past week, analysts at MoneyGram are able to spot whether something has happened to shift the share trend and act accordingly. When MoneyGram launched their ‘Max’s World Adventures’ campaign – a fun, character-driven campaign aimed at children – they noticed a clear leap in their share of voice in that week, in comparison to their usual ‘normal’ share trend. They were then able to dive deeper into the data to see what exactly people thought of it was even more useful.
  10. NESTLE PURINA: Monitored Feed the Cattitude, an integrated campaign involving television spots, a landing page, a mobile app, and a Facebook page. Purina hoped to tap into conversation trends on the Feed the Cattitude Facebook page and on other social media venues. They monitored topics that generated the most conversation, engagement and sentiment to ensure the tone stayed positive.  Feed the Catittude rose to the top five most-engaged Facebook pages, as measured by SocialBakers. Nestlé Purina increased the impact of its paid search investment by aligning search terms with customer interest.
  11. PIZZA HUT: Used social media monitoring to make their marketing more effective. They posted several pieces of organic content, then tracked the conversation around it. That which got the most buzz is used more widely. Two very similar-looking posts, both shots of pizza, one was on a white background, the other on black. Because Pizza Hut was paying attention to the conversation, they saw that the black background shot was performing three times as well. This boosted the ROI of their ads by using that image.
  12. TV LAND: Listened to their own customers and decided to try posts of lyrics to TV theme songs or popular songs from the show era.  The results were incredibly positive. For Pinterest, they created images with quotes from the scripts of their shows and saw improved engagement.  TV Land learned through trial and error what their customers wanted to see that triggered their social engagement.

Do these case studies convince you of the value of social media monitoring? Would the right partner for social media monitoring help you?

 

 

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