NLP in Online Reviews
Mathangi Sri · Apress eBooks · 2020
Reviews are a significant part of online buying cycles today. Though the “vocal minority” is few, the number of users who are impacted by reviews is significantly large. One study found that 63% of users prefer online sites that have reviews. Customers who visit review pages have an astounding 105% more chance of buying from the website (https://cxl.com/blog/user-generated-reviews/#:~:text=Reevoo%20found%20that%2050%20or,site%20that%20has%20user%20reviews). Mining these reviews gives insights to both the online service provider as well as the seller who has listed the product. Other than knowing whether the customer is happy or not, we can also know how users feel about each feature in the product. Sometimes reviewers write a lot about their lifestyle and the use case they have found for the product as well. This can provide insights into things like product-market fit or the value proposition for the product. This can later be used in brand communications for the product. We can also find opportunities or gaps in a category and hence get the “voice of customer” to create a new product or even start a new business.