Emotion Analytics Helping Businesses to Make Money!

PersonalityEmotions Data ExtractionDecision Making
Expressions and sentiment are integral part behind the emotion raised. Emotions are part of our communications with other and relationships we share.  As words during communication do not reflect the entire picture, it’s the expressions pouring out due to emotions holds major ground. The parameters such as body language, body postures, facial expressions, and gait contribute significantly towards the picture completion, supplementing the words from an individual.
 
Founder of Temkin Group, Bruce Temkin called 2016 as “Year of Emotion”
From past one decade, there are a lot of ups and downs in technology surrounding human-sounding inflections, speech recognition, and text-to-speech. But the focus was entirely on words as the computer cannot understand the tremble in voice or enthusiasm and modulation or assertiveness in the tone. While all the technologies mentioned above are good, offering insights to the behemoth, the real emotions are what everyone tries to capture. As AI matures, machine learning will become more accessible and portable, and the interaction taking place among human and machines will also change dramatically.
Emotion analytics is mostly used by researchers and marketers 
 
  • Getting emotion insights and analytics: In the context of advertising, emotion analytics measure customer respond (ad or online video), and it can give researchers an insight on how to engage customers with digital content
  • Helps in optimizing ads, allocation of money, expenditure forecasting, predicting KPIs, and much more to eventually aid in better ROI.
  • The increase in the use of real-time interaction based on emotions
  • Emotions influence our life – how we live, work, and play and directly impacts decisions whether small or big

 

Future of Emotion Analytics: Emotion Storytelling
 
The emotional context within marketing campaigns will make adverts more engaging and powerful. Storytelling is the key to the growth. Users relate to life stories much more than the content being used for any promotional activity. While coming to the advertisement, consumers now have choices on what needs to be watched or skipped. They would rather prefer stories about the products which they can relate to when they purchase them.
According to a recent report “Worldwide Emotion Analytics Market: Drivers, Opportunities, Trends, and Forecasts, 2016-2022” by Infoholic Research, the market is expected to grow at a CAGR of 82.9% during the forecasted period 2016–2022 to reach $1,711.0 million by 2022.
The market is tremendously growing due to the change in customer behaviour towards different products and it has become a necessity for all the organizations to understand the mood of the customer entitled to buy the offering or service.
Author:
Vijaya Sai – Research Analyst
Preeti Wadhwani – Research Team Lead
Infoholic Research
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