Word Cloud and Text Modeling Quiz

Text Analysis

• A word cloud provides a high-level understanding of frequently used terms, with the size of the word representing the frequency of the term.
• Sentiment analysis measures emotions, attitudes, and beliefs, with a compound score ranging from -1 (most extreme negative) to +1 (most extreme positive).
• Text classification creates categories or groups associated with the content, and can be used with numerically represented text data.

Content Analytics vs. Social Listening

• Social Listening gathers content from forums, comment sections, and social media, and converts it from HTML to text readable by humans.
• Content analytics allows for gathered data sentiment and text analytics, and serves target segmentation and targeting activities.

Marketing Analytics Metrics

• Marketing analytics metrics are measures of a data-driven project to maximize marketing effectiveness.
• Best Buy used segmentation to focus on loyal customers, resulting in a 10% growth in sales.

Cluster Analysis

• Cluster analysis organizes data into two or more similar groups, with within-cluster homogeneity and dissimilar characteristics between groups.
• The goal of cluster analysis is to model the underlying structure and distribution of characteristics in the data to separate a dataset into homogeneous subgroups.
• Types of cluster analysis include K-Means Clustering, which uses the average data point in the cluster and minimizes the distance to individual observations.

A/B Testing

• A/B testing compares one treatment to another, and enables companies to continuously test and examine how visitors respond to one change versus another.
• The goal of A/B testing is to identify differences in marketing outcomes after randomly assigning people to marketing input A or marketing input B.
• A/B testing can be used for various marketing inputs, such as website promotion, email campaigns, social media ads, and digital retailing.

Implementing STP Using Data

• Market segmentation involves identifying the main segments in your data and profiling the segments.
• Target marketing involves developing measures of segment attractiveness and selecting the segment(s) to target.
• Product positioning involves developing product positioning for each target segment and developing marketing mix for each target segment.

STP Strategies

• Differentiated marketing involves targeting each of the potential segments with a different marketing mix.
• Concentrated marketing involves committing all marketing resources to serve a single market segment.
• Positioning involves serving a specific market segment by achieving a certain position in buyers' minds.

Test your knowledge on word clouds and text modeling, including sentiment analysis and text classification. Learn about how word clouds represent frequently used terms and how sentiment analysis measures emotions and attitudes in customer feedback.