Applying advanced sentiment analysis for strategic marketing insights: A case study of BBVA using machine learning techniques

  1. Luis Miguel Garay Gallastegui
  2. Ricardo Reier Forradellas
  3. Sergio Luis Náñez Alonso
Revue:
Innovative Marketing

ISSN: 1816-6326

Année de publication: 2024

Volumen: 20

Número: 2

Pages: 100-115

Type: Article

DOI: 10.21511/IM.20(2).2024.09 SCOPUS: 2-s2.0-85192447236 GOOGLE SCHOLAR lock_openAccès ouvert editor

D'autres publications dans: Innovative Marketing

Résumé

In the digital era, understanding public sentiment toward brands on social media is essential for crafting effective marketing strategies. This study applies sentiment analysis on Banco Bilbao Vizcaya Argentaria (BBVA) tweets using advanced machine learning techniques, particularly the eXtreme Gradient Boosting (XGBoost) algorithm, which showed remarkable precision (91.2%) in sentiment classification. This process involved a systematic approach to data collection, cleaning, and preprocessing. The precision of XGBoost highlights its effectiveness in analyzing social media conversations about banking. Additionally, this paper achieved improvements in neutral tweet classification, with accuracy rates at 87-88% and a reduced misclassification rate, enhancing the analysis reliability. The findings not only uncover general sentiments toward BBVA but also provide insight into how these sentiments shift in response to marketing activities and global events. This gives marketers a valuable tool for real-time assessment of campaign effectiveness and brand perception. Ultimately, employing the XGBoost algorithm for sentiment analysis offers BBVA a strategic advantage in understanding and engaging its online audience, demonstrating the significant benefits of using sophisticated machine learning in banking. The study emphasizes the crucial role of datadriven sentiment analysis in developing informed business strategies and improving customer relationships in the banking industry's competitive landscape.

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