Sentiment Analysis is used to discover people’s opinions, emotions and feelings about a product or service.
Therotically we can say it is a computational study of opinions, views, sentiments, attitudes, emotions etc. expressed in text. This text can exist in a variety of formats like Blogs, News, Reviews, or Comments. The ability to extract insights from this type of data is a practice that is widely adopted by many organisations across the world, therefore it's application are broad and powerful. We use it for many different tasks, for instance:
- Is that movie worth watching ?
- What do people think about the latest iPhone?
- What do people think about the elections, particular candidates or issues?
If we can gauge these sentiments well, we can use them to make interesting forecasts about a variety of things, like stock market trends, election outcomes and so on.