Temporal analysis of consumer preferences through natural language processing

Data availability has increased significantly in many shapes and forms, including online customer reviews. This review data has great potential to be a source of information for manufacturers to understand consumer needs and preferences. Nonetheless, customer reviews are still heavily underutilized...

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Main Author: Bhayangkara, Andhika Satriya
Other Authors: Chen Songlin
Format: Final Year Project
Language:English
Published: Nanyang Technological University 2022
Subjects:
Online Access:https://hdl.handle.net/10356/158092
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-1580922023-03-04T20:18:25Z Temporal analysis of consumer preferences through natural language processing Bhayangkara, Andhika Satriya Chen Songlin School of Mechanical and Aerospace Engineering Songlin@ntu.edu.sg Engineering::Industrial engineering::Engineering management Data availability has increased significantly in many shapes and forms, including online customer reviews. This review data has great potential to be a source of information for manufacturers to understand consumer needs and preferences. Nonetheless, customer reviews are still heavily underutilized by manufacturers due to the unstructured nature of the data. Additionally, it is challenging to quantify customer preferences as they are rarely static and evolve rapidly. This study proposes a framework to track and analyze how customer preferences evolve with respect to time through big data analytics with Natural Language Processing. The framework leverages on word frequency analysis and sentiment analysis to derive product feature importance and performance. The following results will be aggregated in a sentiment-based importance-performance analysis model to understand which product features are most in need of improvement. Based on this knowledge, a product improvement strategy can be derived by also considering the most satisfactory product specifications in the market. A case study was performed on smartphone reviews from amazon.com to demonstrate the framework. The proposed framework can be utilized for companies to understand customer preferences which may facilitate companies' decision-making process. Through clear customer insight metrics, more informed product development-related decisions can be made. Bachelor of Engineering (Mechanical Engineering) 2022-05-29T11:42:59Z 2022-05-29T11:42:59Z 2022 Final Year Project (FYP) Bhayangkara, A. S. (2022). Temporal analysis of consumer preferences through natural language processing. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/158092 https://hdl.handle.net/10356/158092 en B052 application/pdf Nanyang Technological University
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Engineering::Industrial engineering::Engineering management
spellingShingle Engineering::Industrial engineering::Engineering management
Bhayangkara, Andhika Satriya
Temporal analysis of consumer preferences through natural language processing
description Data availability has increased significantly in many shapes and forms, including online customer reviews. This review data has great potential to be a source of information for manufacturers to understand consumer needs and preferences. Nonetheless, customer reviews are still heavily underutilized by manufacturers due to the unstructured nature of the data. Additionally, it is challenging to quantify customer preferences as they are rarely static and evolve rapidly. This study proposes a framework to track and analyze how customer preferences evolve with respect to time through big data analytics with Natural Language Processing. The framework leverages on word frequency analysis and sentiment analysis to derive product feature importance and performance. The following results will be aggregated in a sentiment-based importance-performance analysis model to understand which product features are most in need of improvement. Based on this knowledge, a product improvement strategy can be derived by also considering the most satisfactory product specifications in the market. A case study was performed on smartphone reviews from amazon.com to demonstrate the framework. The proposed framework can be utilized for companies to understand customer preferences which may facilitate companies' decision-making process. Through clear customer insight metrics, more informed product development-related decisions can be made.
author2 Chen Songlin
author_facet Chen Songlin
Bhayangkara, Andhika Satriya
format Final Year Project
author Bhayangkara, Andhika Satriya
author_sort Bhayangkara, Andhika Satriya
title Temporal analysis of consumer preferences through natural language processing
title_short Temporal analysis of consumer preferences through natural language processing
title_full Temporal analysis of consumer preferences through natural language processing
title_fullStr Temporal analysis of consumer preferences through natural language processing
title_full_unstemmed Temporal analysis of consumer preferences through natural language processing
title_sort temporal analysis of consumer preferences through natural language processing
publisher Nanyang Technological University
publishDate 2022
url https://hdl.handle.net/10356/158092
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