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Project Admin: Background and Objectives
On this page, we discuss the rationale for the project, its objectives and scope, as well as the business requirements.
In recent years, the rapid advancement of technology has transformed the way people interact with businesses and provide feedback. With the growth of online platforms and social media, individuals now have unprecedented opportunities to share their opinions, experiences, and reviews for products and services. This shift towards digital feedback has been fueled by the convenience and accessibility offered by online platforms, allowing users to express their sentiments with ease.
As the digital landscape continues to evolve, businesses are increasingly reliant on online feedback and reviews to gauge customer satisfaction and improve their offerings. Platforms such as social media, review websites, and e-commerce platforms have become integral channels for customers to voice their opinions and influence purchasing decisions. The abundance of online feedback provides businesses with valuable insights into customer sentiments, preferences, and pain points.
Despite the benefits of online feedback, retrieving and analysing these data present significant challenges. The sheer volume of user-generated content, coupled with data fragmentation across various platforms, makes it difficult for businesses to aggregate and analyse feedback effectively. Traditional methods of data collection and analysis struggle to keep pace with the rapid influx of online feedback, leading to delays in insights generation and decision-making.
Recognising the importance of harnessing online reviews for actionable insights, our project was initiated to develop a sentiment analysis application tailored for GXS Bank. The goal of the project is to leverage natural language processing techniques and large language models to analyse customer feedback from the bank's mobile application. By extracting sentiments, identifying trends, and providing actionable insights, the project aims to enhance customer understanding and drive service excellence through data-driven decision-making.
To address the need for sentiment analysis, the objectives of our project include:
- Enhanced Customer Understanding: The project aims to enhance our comprehension of customer needs and expectations. This enables GXS to gain information from the opinions, sentiments, and challenges expressed by the customers with ease.
- Comparative Analysis of Competitors: We look to directly compare the performance of GXS banking application against other major banks' banking applications in Singapore. This will aid GXS in pinpointing areas that they are lacking in to stay ahead of the competition.
- Improved Service Excellence through Data-Driven Insights: The project also serves to pinpoint specific service areas that can be improved, and generate potential solutions and insights for GXS' reference.
The business requirements outline the functional and non-functional requirements that the project must meet to satisfy the needs of GXS Bank.
- Sentiment Analysis: The application must accurately analyse the sentiment of reviews from GXS Bank's mobile application.
- Topic Modelling: The application must correctly classify every review to a specific topic.
- Generation of Insights/Comparisons/Suggestions: The application must be able to generate textual insights and comparisons of review data.
- Dashboard: The application must include a dashboard that provides an overview of sentiment trends, comparisons with other banks, and in-depth analysis of individual reviews.
- Data Visualisation: The dashboard must utilise interactive visualisations to present data clearly and intuitively.
- Scalability: The application must be able to handle large volumes of feedback data efficiently.
- Easily Updatable: The application must provide real-time or near-real-time analysis of customer feedback.
- Streamlined Process: The use of the application must be hassle-free and convenient.
- Usability: The application must have a user-friendly interface that is intuitive and easy to navigate.
- Compatibility: The application must be compatible with modern web browsers and mobile devices.