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Definition: Sentiment Analysis
Sentimental analysis means examining moods and sentiments of a group of people on a certain topic or thing. Social media, blogs, forums and other web 2.0 technologies are the source of data on top of which sentimental analysis is drawn. Collectively such data is known as Big Data and is analysed by various analytic techniques and tools available.
For example Amazon Web Services (AWS) is a big data analytics service which can be used for analysing sentiments of public by processing high volume tweets and Facebook feeds. Such systems are scalable and can efficiently handle high volume of various types of information.
Benefits of sentimental analysis:
a) In politics: Sentimental analysis can be used to judge the performance of certain political party at the time of election.
b) Business decisions: It can be used to draw various marketing decisions regarding need of a product in certain season and certain location. Along with this, sentimental analysis can be used in drawing pricing related decisions of various products.
c) Feedback: This can also be used in analysing feedback of the crowd on decisionsmade by certain organizations.