We recently announced a new version of Excel Add-in which lets you perform state-of-the-art text analysis capabilities from the comforts of your spreadsheets without writing a single line of code. The add-in has been received very well by users working across different industry verticals like Market Research, Software, Consumer Goods, Education, etc. solving a variety of use-cases.
Sentiment analysis has been the most used function of our Excel add-in closely followed by Emotion detection. Many of our users use sentiment analysis in Excel to quickly and accurately analyze the responses of their open-ended surveys, online chatter around their product/service or to analyze product reviews from e-commerce sites.
In this blog post, we will discuss how to use the function Sentiment Analysis in Excel Add-in to do text analytics for any type of content.
First, we will give you a brief introduction to the underlying technology driving our sentiment engine.
Our sentiment analysis ‘model’ uses Long Short-Term Memory (LSTM) algorithms to classify a text blob’s sentiment into positive and negative. LSTMs model sentences as a chain of forget-remember decisions based on context. It is trained on user-generated content taken from different social media websites and news articles both to handle casual and formal language. We have also trained this algorithm on custom datasets for different clients as part of our enterprise offering.
Using Sentiment Analysis in Excel Add-in
To get started, you need to first sign-up for a ParallelDots account (if you haven’t already), and download and install the Excel add-in on your computer. Once you install it, follow the steps below to use Sentiment Analysis in Excel:
- Login to your ParallelDots Excel Add-in account: Enter your login credentials to activate the add-in’s functions.
- Use the excel add-in sentiment analysis function:
Using the function paralleldots_sentiment you can analyze any textual content and in return get the sentiment attached to the text. Consider the following example where the text sentence “Team performed well overall.” is being analyzed using paralleldots_sentiment. as shown in the GIF below:
In case, you need to know the probability of sentiment label returned by paralleldots_sentiment function discussed above, you can do so by invoking function paralleldots_sentiment_<sentiment_label>_probability where sentiment_lable can be neutral, positive or negative.
Sentiment Analysis in a quick and effective way to gauge the mood of your users and take appropriate action based on it. Often, it is the first step in the journey to make data-driven decisions to improve your product or services. You should use it in combination with keyword extraction function to find the key factors contributing to the overall sentiment of your data.
You can read more about the use-cases of Excel Add-in here.
We hope this post will help you to use sentiment analysis in excel using ParallelDots add-in and start your text analytics journey. Please write to us at firstname.lastname@example.org in case of any queries or feedback.
If you haven’t downloaded the add-in yet, then please download it now for free from here.