Journal of Internet Computing and Services (인터넷정보학회논문지)

Korean Society for Internet Information (한국인터넷정보학회)
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Competitive intelligence in Korean Ramen Market using Text Mining and Sentiment Analysis

  • Received : 2018.01.19
  • Accepted : 2018.02.03
  • Published : 2018.02.28
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Abstract

These days, online media, such as blogospheres, online communities, and social networking sites, provides the uncountable user-generated content (UGC) to discover market intelligence and business insight with. The business has been interested in consumers, and constantly requires the approach to identify consumers' opinions and competitive advantage in the competing market. Analyzing consumers' opinion about oneself and rivals can help decision makers to gain in-depth and fine-grained understanding on the human and social behavioral dynamics underlying the competition. In order to accomplish the comparison study for rival products and companies, we attempted to do competitive analysis using text mining with online UGC for two popular and competing ramens, a market leader and a market follower, in the Korean instant noodle market. Furthermore, to overcome the lack of the Korean sentiment lexicon, we developed the domain specific sentiment dictionary of Korean texts. We gathered 19,386 pieces of blogs and forum messages, developed the Korean sentiment dictionary, and defined the taxonomy for categorization. In the context of our study, we employed sentiment analysis to present consumers' opinion and statistical analysis to demonstrate the differences between the competitors. Our results show that the sentiment portrayed by the text mining clearly differentiate the two rival noodles and convincingly confirm that one is a market leader and the other is a follower. In this regard, we expect this comparison can help business decision makers to understand rich in-depth competitive intelligence hidden in the social media.

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