DATA-DRIVEN MARKET ANALYSIS USING ASPECT-BASED SENTIMENT ANALYSIS
DATA-DRIVEN MARKET ANALYSIS USING ASPECT-BASED SENTIMENT ANALYSIS

Summary/Abstract: The increasing availability of user-generated content on digital platforms has transformed the way businesses conduct market analysis and evaluate customer preferences. Traditional market analysis methods, including demographic analysis, market segmentation, target market identification, competitor evaluation, and assessment of market needs, continue to play a critical role in business planning and strategic decision-making. However, these conventional approaches often rely on structured data, surveys, and publicly available reports that may not fully capture customers’ real-time opinions and experiences. In this context, Aspect-Based Sentiment Analysis (ABSA) has emerged as a powerful artificial intelligence technique capable of extracting detailed customer insights from online reviews, social media discussions, forums, and other textual sources. This study investigates the advantages of integrating ABSA into the early stages of business development, particularly during the market analysis phase. Unlike general sentiment analysis, which classifies an overall opinion as positive, negative, or neutral, ABSA identifies sentiments associated with specific aspects or attributes of products and services. This enables businesses to obtain fine-grained insights regarding customer satisfaction, preferences, complaints, and expectations. The research examines how ABSA can complement traditional market analysis components by improving the identification of market opportunities, customer needs, competitor strengths and weaknesses, and product improvement possibilities. By analysing customer-generated data, businesses can gain a deeper understanding of consumer behaviour patterns and market trends that are often inaccessible through traditional analytical tools. The findings indicate that the most significant contribution of ABSA is observed in competitor analysis and competitive intelligence. Through the analysis of customer opinions related to competing products and services, new businesses can identify the strengths, weaknesses, opportunities, and limitations of existing market offerings. Furthermore, ABSA enables organizations to detect recurring issues, preferred product features, pricing concerns, and customer expectations directly from consumer feedback. Since companies do not always disclose complete strategic or operational information in public reports, customer opinions available online represent an alternative and valuable source of market intelligence. The study concludes that integrating ABSA into market analysis can support more informed strategic decisions, reduce uncertainty during market entry, lower the risk of business failure, and enhance innovation in product and service development. Consequently, ABSA represents a valuable complementary tool for modern market research, enabling organizations to better understand customer perspectives and improve their competitive positioning in increasingly dynamic and data-driven markets.

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