The Customer is Always Right: Sentiment Analysis for Bank Service Quality

Abstract

Textual information in the world can be broadly categorized into two main types: facts and opinions. Facts are objective expressions about entities, events and their properties. Opinions are usually subjective expressions that describe people's sentiments, appraisals or feelings toward entities, events and their properties. The concept of opinion is very broad. In this chapter, we only focus on opinion expressions that convey people's positive or negative sentiments. Much of the existing research on textual information processing has been focused on mining and retrieval of factual information, e.g., information retrieval, Web search, text classification, text clustering and many other text mining and natural language processing tasks. Little work had been done on the processing of opinions until only recently. Yet, opinions are so important that whenever we need to make a decision we want to hear others' opinions. This is not only true for individuals but also true for organizations.One of the main reasons for the lack of study on opinions is the fact that there was little opinionated text available before the World Wide Web. Before the Web, when an individual needed to make a decision, he/she typically asked for opinions from friends and families. When an organization wanted to find the opinions or sentiments of the general public about its products and services, it conducted opinion polls, surveys, and focus groups. However, with the Web, especially with the explosive growth of the usergenerated content on the Web in the past few years, the world has been transformed.The Web has dramatically changed the way that people express their views and opinions. They can now post reviews of products at merchant sites and express their views on almost anything in Internet forums, discussion groups, and blogs, which are collectively called the user-generated content. This online wordof-mouth behavior represents new and measurable sources of information with many practical applications. Now if one wants to buy a product, he/she is no longer limited to asking his/her friends and families because there are many product reviews on the Web which give opinions of existing users of the product. For a company, it may no longer be necessary to conduct surveys, organize focus groups or employ external consultants in order to find consumer opinions about its products and those of its competitors because the user-generated content on the Web can already give them such information.However, finding opinion sources and monitoring them on the Web can still be a formidable task because there are a large number of diverse sources, and each source may also have a huge volume of opinionated text (text with opinions or sentiments). In many cases, opinions are hidden in long forum posts and blogs. It is difficult for a human reader to find relevant sources, extract related sentences with opinions, read them, summarize them, and organize them into usable forms. Thus, automated opinion discovery and summarization systems are needed. Sentiment an...