by Sentimenti Team | Jan 15, 2021 | SentiBrand, Sentistocks
Cyberpunk 2077 has already premiered, and the emotions surrounding this event are extreme. The inspiration for this comparative analysis came from the comments surrounding a post made by Michał Sadowski, the creator of BRAND24, on his private Facebook profile. The entry refers to the reception of the game by Internet users. Our attention was drawn in particular to comments regarding the use by investors of sentiment as an analytical tool.
Cyberpunk 2077 and CD Projekt share price. Sentiment analysis a tool for investors?
Generally available media monitoring tools offer automatic sentiment analysis (quantitative) as standard. However, we should ask ourselves whether we can infer changes in emotions on the basis of such analysis? If the opinion was negative, how negative? Is it possible to draw conclusions about measurable parameters on the basis of such an analysis? Such a parameter is undoubtedly the price (course) of shares. But based on such a chart, was it possible to predict what would happen to the share price of CD Projekt?
Sentiment analysis indicates that there was a significant predominance of positive sentiment over negative sentiment (quantitatively) during the period 7-14 December 2020. Would this indicate that such sentiment was confirmed by the upward trend in the price of CD Projekt shares listed on the WSE? Below we present the share price chart for this company (creator of Cyberpunk 2077) during the corresponding period.
The share price chart shows the opposite situation from the sentiment chart. During the period in question (7-14 December 2020), CD Projekt’s share price recorded a significant decline, but the predominance of positive over negative sentiment visible in the tool did not indicate this at all.
Emotion analysis. Could you have predicted the stock market trend?
The answer is yes! Analyzing the intensity of the eight basic emotions (not sentiment) it was clear that two in particular stood out during this period. These were anger and trust. By observing the correlation between them we could see a specific trend behavior. We have additionally marked two key moments on the chart.
A 30% drop in the price of CD Projekt shares was recorded between December 7 and 12, 2020. Moreover, the period from December 17 to 19 last year saw another, this time 17%, price decline. It was during these time periods that the maximum divergence (i.e. the maximum difference in intensity) of the emotions ANGER and CONFIDENCE occurred.
The intensity of anger reached its maximum values with a simultaneous downward trend in the intensity of trust. What conclusion can be drawn from this? First of all the conclusion is that it was not the level of sentiment that signaled foreseeable drops of the company’s share prices. It was the emotions themselves, and more specifically the observation of changes in their intensity during a key moment for the company.
The analyzed case of the Cyberpunk 2077 game was a very simple case study for emotion analysis. It was accompanied by a huge information noise caused by the game’s release. The emotion analysis used in the SentiStocks tool therefore allows for very precise price predictions of various financial instruments. Therefore, its use can be a real support for investors in their decisions, and it can often help predict potential image crises.
At this occasion it is worth mentioning about even 85% effectiveness of emotion measurement in predicting the price of e.g. Bitcoin. Our tools perfectly cope with this. You can read more about this topic HERE.
by Sentimenti Team | Sep 14, 2020 | SentiBrand
Product reviews are extremely important for businesses. It doesn’t matter if it’s a local small business or a large conglomerate. Every business wants to climb to the top of the rankings on Google and inspire consumer confidence. It also wants online reviews to be only positive.
Product reviews and their value to your business
Product and service reviews that we come across online are very desirable for a business. They are the ones that increase search engine visibility and improve SEO. They also help build consumer trust and boost sales and conversions. They’re also a big advantage over the competition, as long as their content evokes positive emotions. The statistics speak for themselves. Reviews saturated with positive emotions can generate a lot of revenue. Products with an average rating of 5 stars receive up to 126% more orders than those with four stars.
On average, consumers read up to 10 online reviews before trusting a product or company. Up to 32% of consumers visit a company or product’s website after reading a positive review. SEO and SEO experts agree on this – generating online reviews is one of the top three best performing factors. 82% of consumers read online reviews of local businesses.
These reviews can provide the impetus for choosing between our company and a competitor. Online product reviews not only give consumers insight into the pros and cons of the products and/or services offered. They are also a great way to attract potential customers.
Online reviews and testimonials? The more of them, the better
While consumers will read many reviews before a brand inspires their trust, timing is crucial. Nearly half of consumers will only pay attention to reviews that have been written within the last 2 weeks and not a day more.
For many local businesses, the best place to build a review presence will be Google My Business. If you are dealing with a typical e-commerce business, you can build a profile on Trustpilot. Those in the hospitality industry can check reviews on TripAdvisor. Reviews can also be found on Facebook, Ceneo, GoWork and many other portals.
Analyzing online reviews, or what if there are already some?
You can do many things with online reviews. In addition to presenting reviews on your website, you can simply analyze their content and draw deeper conclusions. This allows you to go beyond star ratings and take your business to the next level.
Reviews can be a great source of information about your business or product. By analyzing the most common complaints about products, you can make improvements that will keep customers happy. The company through this will have better reviews in the future.
Review analysis, or the study of consumer emotions
Online reviews are an essential part of any business hoping to make a positive mark online and build consumer trust. Consumer reviews can be used to enhance brand reputation and improve services.
As an example, we used our tool to study emotions, arousal, and sentiment on several sample products. We took data from ceneo.pl from the last year.
The products were chosen quite randomly after taking into account only one parameter – a larger number of opinions in order to make the data representative. The group of tested products included several random phones, headphones and a water filter cartridge, cosmetics, medicine and a scooter.
- Apple AirPods 2 white (MRXJ2ZM/A)
- BRITA Maxtra Plus 5+1 pcs. Filter cartridge
- Apple iPhone 11 64GB Black
- Apple iPhone 11 Pro 64GB Star Grey
- Chlorchinaldin VP 20
- Xiaomi Mi Electric Scooter M365
- Long 4 Lashes Eyelash Growth Serum 3ml
- Xiaomi Redmi Airdots Black
- Samsung Galaxy A40 SM-A405 64GB Dual SIM Black
- Xiaomi Redmi Note 8 Pro 6/64GB Gray
- Xiaomi Redmi Note 8T 4/64GB Blue
These are probably not all reviews of these products, but this is mainly an example of a survey and how to analyze content from consumers. Below are the results:
As can be seen, the Brita Maxtra product received the highest intensity of positive emotion and favorable image sentiment in this analysis. In the group of randomly tested products, the Samsung Galaxy A40 received the worst score. The order of products was arranged according to the value of positive sentiment – from highest to lowest.
An analysis of the intensity of joy, trust and anger in the surveyed opinions shows that non-technological products (phones, handsets) have joy and trust much less. Phones are characterized here by more criticism. When it comes to emotional arousal, i.e. the strength of emotion and the type of words used to express it, the best performer is Chlorchinaldin VP-20, and the worst – again – is Samsung Galaxy A40. This may mean that the criticism was not so strong in the case of this device, but it outweighed the positive emotions.
Selected negative with highest anger intensity:
- Unfortunately, the headphones COMPLETELY do not stick in the ears, no matter what kind of covers you use, and the second day one of them fell out of the ear and got lost. DO NOT RECOMMEND. 200 PLN thrown down the drain.
- Impressed by the positive reviews, I bought them at a low price. Very stable hold in the ear, have a nice case but that’s actually the end of the advantages. The manufacturer did not include any instructions so I had to reach for “tutorials” and “unboxingi” on youtube. In vain – the left earphone did not want to pair with the right one. It is worth knowing that the left handset connects with the right one and the right one connects with the phone. Several reset attempts did not help.
- Chinese fakes. The headphones cannot be paired with each other, despite following many instructions from the net. Both headphones are detected as right. No instructions in the box. No cable.
- 100% counterfeit I own the original and from this store. These fakes are not even 50% of the capabilities of the originals. I do not recommend
Selected negative with highest joy intensity:
- I have been using Brita for a long time. I stopped buying water at the store (especially in plastic) a long time ago. We have great quality tap water. After pouring it through the brite I am at peace with the quality. I recommend it to everyone. Great product.
- Very good quality. Son satisfied. I recommend
- Good quality product, fast delivery, everything is fine – I recommend 😉
- I bought it for a gift. My boyfriend is very happy and praises it. I recommend
As you can see, Sentimenti tool analysis allows you to not only examine the emotion saturation of review content. It also allows you to quickly categorize reviews into positive and negative. This process gives quick (in just a few minutes) and precise results. The above sample survey is just a prelude to further in-depth analysis. This type of research is done by Sentimenti team as a part of SentiBrand service.
by Sentimenti Team | Sep 26, 2019 | Politics and Social
Is popularity a matter of emotion? Everything points to it. We can measure the power of a message primarily by what emotions it evokes. Captive has made an impression on Polish viewers comparable to the adoration for Isaura’s Slave. We checked how the emotions expressed by them online changed during subsequent seasons and episodes.
“A costume series that was presented at the Cannes Film Festival” – this is how TVP begins the description of Zniewolona on its VOD site. The Russian-language Ukrainian production turned out to be a huge hit. During the broadcast of the first season, it was written about 348 times a day on average, the second season was commented on three times more often (about 962 mentions a day in August 2019). Super, beautiful, good, interesting – these are the adjectives appearing most often in mentions of the first season of the series. On the occasion of the second one, great joins them.
Popularity versus emotion – first season
The series was launched on Polish television on July 1. At first, not much was written about it, and the opinions of those who spoke out were often negative. The change was noticed only after a week or so, or after the first weekend, when one could relax longer in front of the screen – the number of statements published online gradually increased, and their overtone was favorable.
If we take a closer look at the emotions expressed by Polish internet users about the first season of Captive, we will see that they did not change much after the first week, when the series was just gaining popularity. The intensity of joy and trust is at its highest around July 18, while surprise is the strongest emotion after July 26, with anger and sadness also rising slightly.
Captive series – season two
The second season of Captive premiered on August 3, and the opinion of the general public about it was clear: as indicated by the words wonderful, beautiful, good, positive sentiment prevailed. Only after August 23 can we see an upward trend in the intensity of negative sentiment.
In contrast, agitation, very generally understood as the energy of mentions, did not fluctuate at all. The results of the sentiment analysis of mentions published during the viewing of the second season actually do not differ from those obtained after July 8. It was then that the tone of mentions of Captive was established.
We also see very similar results in the analysis of emotions. The feelings expressed by internet users do not change significantly until August 24, when we again notice a spike in surprise, anger and sadness and a drop in joy.
Keep the viewer satisfied but in suspense
Our results can be summed up in one sentence: the reactions of Internet users reflect the storytelling of the writers of Captive. The closer we get to the season finale, the greater the tension. The viewers become irritated with the characters, surprised by the turn of events, saddened by the fate of their favorites. The sudden twists of plot (received with surprise) may diminish the satisfaction of the series’ fans, but they will undoubtedly make them switch on the TV set or VOD as soon as the next episode comes out.
When writing about a series, film or other work of culture, internet users not only express their opinions, but also refer to the content of the watched productions. We mentioned this when we analyzed Chernobyl and Kleru. In the mentions of Captive, this means that, for example, the anger expressed by viewers can refer both to the characters of a beloved production and to the opinion that the series has broken down. In this case, however, comparing the changes in emotion as the available episodes arrive allows us to hazard a guess that we are dealing with changes tightly controlled by the creators through twists and turns strategically placed in successive episodes.
How do we know if our message is working and translating into popularity?
Serial, film and advertising all have something in common – they are meant to evoke an emotion and then a reaction. While the creators may be about different feelings, the reaction very often comes down to purchase. In case of a horror movie it’s about fear, in case of a comedy it’s about joy, and in case of a bank it’s about trust. We can measure it by monitoring subsequent stages of the purchase funnel… But how do we know what caused the lack of conversion between watching the ad and the “buy” button? Did the message break down, or did poorly implemented links not work?
We can measure the strength of a message primarily by what emotions it evokes and whether it translates into popularity. If no one is writing about our product, we know it won’t be easy to buy. And when we finally see a growing number of mentions, it’s time to ask what emotions they express. Is our horror movie funny or scary? And the series – is it gripping, or are viewers rather satisfied, but nothing motivates them to continue watching?
Emotion analysis is also useful when we have hard results at hand. In the case of Captive, they speak of growing viewership. Looking at emotions allows us to understand what makes the sales or the number of views change. Above all, it gives us an answer to the question of whether it is whisper marketing or perhaps the expert work of our scriptwriters.
by Agnieszka Czoska | Jan 23, 2019 | Sentimenti research
In this read we want you to meet the idea behind the unique solution that we came up with. It works wider than popular sentiment analysis tools used today for monitoring internet activities and more. Why? Instead of measuring sentiment, we focus on emotions. What does the emotion analysis offer that sentiment analysis does not? Why do we need as many as 8 emotions to describe, or even predict somebody’s state of mind, moods, future actions etc.? And what could you possibly learn whilst knowing them? Let us find out.
What emotions does Sentimenti analyse?
In Sentimenti we have implemented our tools for using Robert Plutchik’s model of emotions. It reveals 8 atavistic, adaptive emotions that help a human being (and any other life form) to survive and create the base for developing far more complex emotional experiences.
The Plutchik model contains two positive emotions: joy and trust, two ambivalent ones: surprise and expectation, and 4 rather, so to speak, negative: sadness, fear, repulsion and anger. Each of them has its meaning, leading the person into an action, praise, criticism, need or surprise. We discuss these emotions one by one.
What is the result? By analysing all the 8 basic emotions, we can precisely assess how much your brand differs in the eye of Internet users, trace down customer opinions on products and services, find out on searched phrases, respond quickly to a communication crisis or compare the company to competitors, amongst the others. But sometimes we also love to have some fun checking on the emotional change during and after popular TV shows display, examining stock market reports reactions, an impact certain political, social or cultural event has and so on.
Sentiment analysis of joy and sadness
Joy and sadness are like black and white, sweet and sour or light and the darkness – a simple division into positive and negative.
Joy reflects a wide range of positive reactions and is related with a smile, the moment when we simply like something. Understood this way, it seems to be similar to a “positive sentiment” (as interpreted by sentiment analysis tools), but the key here is the intensity. Commonly understood joy (“positive sentiment”) is associated with a strong positive reaction to something. Our solution focuses on and lets you find out about any praise components that influence the levels of joy. Including the everyday courtesy.
Sadness is opposite. It describes the loss, a sense of loneliness and the need of comfort, sometimes is even being referred to the person’s ask for help. Together with the joy it forms a contrasting pair in Plutchik’s emotion circle.
The Plutchik model has the psychological background. According to the researches, expressing both emotions at the same time with a similar intensity proves an internal struggle, a very mixed attitude of the text’s author to the subject. It means the person is in unhealthy or somewhat uncomfortable, confusing circumstances. The comparable intensity of positive and negative sentiment cannot be interpreted this way.
The interpretation of joy and sadness levels in this case are different than the levels measured by sentiment analysis tools. In Sentimenti we use two models of text overtones, so we can measure it all. We also count the relationship between different emotions and sentiment. A correlation (we use the r-Pearson measure here) greater than 0.6 is called strong, and close to 0.9 means that the two variables are basically the same. We always measure the relationship between joy and positive sentiment and sadness and negative sentiment for broader cntext and more precise data collection. Depending on the subject, positive or negative sentiment can take almost entirely from a single emotion, but also as the result of many different emotions being expressed by Internet users at once.
The results concerning sadness and joy do not have to be directly related to those obtained in the analysis of sentiment – which also shows that it is the result of many different emotions being expressed in the texts at the same time. We are able to tell you what possibly is behind the joy and sadness.
6 other basic emotions
So now you know the joy and sadness are not just a simple sentiment, but can be developed from other, even complex emotions. We have taken a binary model and put I against the one with 8 categories. The two are already described, where are the other six? We will show what they do and why they differ from simple positive or negative sentiment.
Trust is expressing a sense of security, expecting something to happen the way we want to. It also covers a sense of community, a closer relationship, finding one’s place in the group, a feeling of mutual similarity etc.
Repulsion is an expression of disgust, strong criticism and aversion. When showing it, to us something is outrageous, alien or immoral. It is a strong emotion connected with the reaction of rejection and avoiding something. Many offensive nicknames that describe socially unacceptable groups are associated with repulsion.
Anger – another strong emotion, and very negative one. Instead of avoidance, it is associated with attack and sometimes leads into the aggression. In this way we express threats, but also dissatisfaction. It is accompanied by curses and shouting (in speech, in writing it can be expressed with stronger words).
Fear, as in life, is accompanied by danger, threat and risk. It is associated with escape, a desire to hide. It is also a cry for help.
Surprise comes up when our predictions don’t come true or something unexpected just happens to us. When combined with joy, it gives admiration, and with sadness – disappointment. It can have very different intensity, from a slight surprise to (also associated with fear) panic.
Expectation – the last of the emotions we describe. The opposite of surprise because it means making predictions and believing that they will come true. It can therefore be associated with anxiety or excitement, so it is also ambivalent.
8 emotions make sense
Describing the overtones of a text, portal or brand awareness on the scales of 8 emotions gives you a lot of information. Sometimes only three emotions from the whole model may matter the most, but you will only learn this when having an insight into the whole experience’s spectrum.
Emotions in the titles of portals are very different in terms of the sound of the start page (more in this entry)
First, the sentiment analysis is something different from the emotion analysis, yet we are talking here about two complementing models. Based on the results of one of them, one can predict to some extent the results of the other. Emotional analysis offers a much better insight into what actually checked texts communicate and what kind of consequences they may bring on. For example, an anger is a better catalyst for conflict or popularity loss than sadness. A decrease in trust is more dangerous than a decrease in joy. The graph above shows how different emotions are placed on information portals depending on their character and target group.
Individual emotions are not only differently described by us, but also differ qualitatively in the reader’s perception of the text (we examined it on 22 thousand people) and in the intention of its author. More trust does not necessarily mean more joy – these are very different feelings and can sometimes turn out to be mutually exclusive. These are basic emotions, so they should be independent of each other. At the same time, they form a system and sometimes interact, even if one displaces the other. If you want to know more about emotion analysis, we have also written about go od practices to draw valuable knowledge from measuring emotions with Sentimenti tools.
by Grzegorz Stefański | Dec 21, 2018 | Sentistocks
This time the article was prepared by Grzegorz Stefański, our financial advisor. He proposed to check whether the emotions expressed in the entries about KNF (Financial Supervision Authority) will allow to predict changes in bank indices.
In Brand24 tool we collected data from the period from 1 November to 17 December. As there was not much writing about the Supervision Authority before 13 November, we treated these 12 days as one starting point for data to which we compare further changes in sentiment and emotions expressed by Poles. As can be seen in the chart, before 13, about 200-400 mentions were written daily. On the day the scandal broke out, the number rose to over 20 800 and until today it did not fall below 700 (the least talk was about the KNF on December 5).
The banking sector on the Warsaw Stock Exchange has always been regarded as one of the more stable and relatively insensitive to sudden fluctuations. However, this stable sector is not immune to sudden turmoil, either. For nearly two months now we have been able to follow the events related to the so-called “KNF scandal”. It is clear that the situation in the KNF was very important for the banks’ listing on the WSE in the form of at least two stimulators.
The first one is media information about a conversation between the then President of the KNF and the owner of Getin Bank. The second is the detention of former members of the KNF management. It was November 13th and December 6th respectively. These events had the same resonance for the banking sector. When analysing the changes in the WIG – Banks exchange rate in that period, we notice the following reaction of the stock market with some time delay. This applies to the WIG – Banks quotation on 16 November. On that day, one of the three lowest closing prices in a year (7161.54) was recorded, while on that day the lowest price in a year (7040.86). There can be no doubt that the reason for such a significant decrease was the media information about a conversation between the then President of KNF and the owner of Getin Bank. However, the banking sector itself defended itself with results in the following days, which resulted in an increase in the exchange rate, which was not weakened by reports of the arrest of the President of KNF by law enforcement authorities (this took place on 27 November). In this period, a mini upward trend in the exchange rate is noticeable. However, further information on the arrest of former members of the PFSA management on 06 December resulted in a significant drop in quotations – to the level of 7244.17 (on 11 December).
Source: bankier.pl
The question should be asked how the bank shares market will develop further? How much more turbulence is it able to withstand without causing negative reactions from stock market investors? Analysts often use the term investor moods – but what really makes up these so-called moods? Certainly, they are positively influenced by economic results, and also undoubtedly by investment safety. But investors are people who, regardless of measurable indicators, are also guided by emotions. The stock exchange is not free of emotions – we have seen it more than once. Also, the recent events related to the PFSA had a direct impact on the banking sector listed on the WSE. These events described by the media evoked certain sentiment and emotions among the recipients, and this could undoubtedly influence their behavior, causing for example the desire to get rid of their values.
At this point it is worth analysing – as a coincidence – the changes in the intensity of sentiment in the texts on KNF compared to the changes in the WIG – Banks exchange rate between 9 November and 17 December 2018.
Source: bankier.pl / sentimenti
Analysing the above chart one can notice a certain correlation between the changes in the intensity of sentiment in the texts about KNF and the behaviour of investors manifested in the WIG – Banks exchange rate fluctuations. Thus, in a situation when the positive (increase) and negative (decrease) sentiment curves were aiming to cross, it was a certain signal to increase the bank share price. It took place on 16 November and from that day onwards the price rose until 29 November. On that day the sentimentary curves spread out and a short-term price drop was recorded. After that day, the curves entered the convergence phase again and the price went up (until 05 December). On the next day (after information about the arrest of former heads of the Polish Financial Supervision Authority), the exchange rate fell. The sentimentary curves entered a phase of retreat and the exchange rate adopted a downward trend until 11 December. After that day, the sentimentary curves came close, and the exchange rate entered the upward phase again. However, since December 13th, the positive sentiment trend has seen a decrease (and at the same time an increase in negative sentiment), and this may suggest that in the following days there may be another downward correction of bank share prices.
In this analysis, only one element has been adopted which may affect the share price levels of banks listed on the WSE. This element is media information about the situation in the PFSA. However, it already gives some premises to start observing carefully and trying to study the emotions connected with the capital market. A more complete picture can be obtained by conducting broader research, especially of the basic emotions that function in the environment of investment processes taking place on the stock exchange.
It is still necessary to consider how individual emotions have changed responding to subsequent reports of irregularities in the PFSA and whether they also have predictive power. The graph with the results of the averaged daily emotions indicates, first an increase in the proportion of disgust and anger and a decrease in joy. Strong fluctuations of trust can also be observed. SentiTool as a tool to help predict stock market trends? It seems that this is quite a possible scenario.
