#117: Taking cues from sentiment analysis for people analytics and engagement, with Muktabh Mayank

On this episode of The Shape of Work podcast, our guest is a passionate entrepreneur and Data Scientist, Muktabh Mayank, Co-founder of ParallelDots Inc -  an AI-first company that works with consumer packaged goods clients globally to improve their retail execution. 

Muktabh has held numerous data science roles in tech companies, including a stint as an R&D Software Specialist at Opera Solutions. In addition to building ParallelDots, Muktabh has published machine learning papers in many reputed conferences and journals and writes about data science and programming on Quora.

With a background that extensive, it’s no surprise this episode covers a lot of ground.

We discuss with Muktabh:

• His journey from working at tech companies to starting his own
• His experience managing a team of 50 members
• Accurate job descriptions: tips for crafting highly effective job descriptions
• Differences between beginner, moderate and advanced level knowledge of technology
• Taking cues from the concept of sentiment analysis for people analytics and engagement

Know Something About Employee Sentiment Analysis: 

Experts define employee sentiment analysis as the automatic process that uses natural language, machine language, and AI techniques to analyze people’s reviews and unmanaged review data. These analyses help to obtain data quality and employees’ feelings towards the organization.

Employee sentiment analysis is not an easy task. How does it work, and what are its benefits? Many questions need to be analyzed. Muktabh Mayank explains in his episode that every person likes things as per their taste and need. He gives good examples to convey what sentiment analysis means.

Why Is It Important to Measure Customer and Employee Sentiment Analysis? 

Sentiment analysis is good for customers, employees, and organizations. It gives advantages to the organization to improve their product and service.

Muktabh Mayank is also an entrepreneur in addition to being a database scientist. Hence, he understands customers’ thoughts about any service or product. Some points prove that sentiment analysis of people is essential. These things are as follows

Upgrade services and products: 

Analyzing feedbacks, surveys, social media posts, and many more things can shed light upon some points:-

• Issues that require fixing: Sometimes, you can find an unexpected influx of dislikes that point to a bug.
•  Segment for enhancement: Many customers would mention the specific area of service or part of the product. So, finding them could be easy sometimes.
•  Customer requirements: Sometimes, customers can comment on mission features like missing chili flakes and sauce from the pizza box.

Customize marketing strategies:

Muktabh Mayank claims that a straightforward marketing strategy can make things positive. Product promotion should conveniently reach the customer. The best way to make a strong marketing strategy is to keep an eye on the latest demand and trends on social media and the market.

As a matter of competition, you need to be careful about your competitor’s new launch. It is essential to notify the fault in their new product. By this, you can rectify your product’s weakness. Another approach is identifying your competitors’ strengths and imitating them in your marketing strategy.

You can use sentiment analysis to segment your customers. You can also use Net Promoter Score (NPS) to detect customers’ thinking by offering a free trial coupon or discount. By this, you can stop the cycle of negative thoughts.

Follow Muktabh on LinkedIn

Produced by: Priya Bhatt
Podcast host: Rohan Mankad