What’s Reputation Intelligence?
Reputation Intelligence is the complete process of classification of the stakeholders to help corporates get strategic business decisions for their business processes. We live in a world where data should drive our decisions. However, it is not that simple. Every day thousands of news articles are written for different stories, companies, situations, and these news may be about your company or your stakeholders. So, it is almost impossible to track these data manually.
Company & brand reputation is very important for sustainable business. Companies with a high brand reputation can have better customer loyalty, higher sales revenues, and retention rates. Therefore, it is very important for companies to build a high reputation and sustain it. However, it is no easy task. Reputation depends on internal and external factors. You may have the best solution, product, team but, one little problem that your B2B customers/suppliers/business partners have can easily destroy your reputation and business. That’s why companies need to track their stakeholders’ reputation in order to take necessary actions before a crisis happen.
What’s Reputation Management?
According to Gartner, reputation management is defined as the practice of influencing stakeholder perceptions and public conversations about an organization and its brands. It includes monitoring perceptions and conversations, responding to reputation threats and proactively seizing opportunities to boost reputation. Based on the definition, it’s obvious that every company needs to have reputation management to have a better and more sustainable business. While it is good to have a reputation management strategy, it won’t be enough since reputation is affected by many external factors that you can’t control.
Differences Between Reputation Intelligence and Reputation Management?
Reputation Management and Reputation Intelligence are two terms that seem very alike. However, they have very different aspects and focus areas.
Reputation Management focuses on responding and controlling the reputation by using different tactics.
- Overlaying positive comments on bad comments
- Having a presence in all online channels
- Creating SEO strategies for positive results
These actions are usually used by online reputation management tools or companies. It may seem a good idea to apply these strategies to have a better reputation in the short term however they won’t take you to the root cause of the problems.
Reputation Intelligence is however the foundation of the long-term strategy that you need. Not only, it helps you to understand the root-cause of the problems but also it gives you the opportunity to track your stakeholders’ reputation as well. This is very useful since you can see the potential risks that may damage your reputation because of the negative news about your stakeholders. So, the whole process is much bigger and more important than classic online reputation management. It includes:
- Tracking and listening to stakeholders’ news
- Finding the important news
- Analyzing the results
- Proactive actions
Importance of AI, NLP and Sentiment Analysis for Reputation Intelligence
As technology evolves, classic business behaviors change. Many industries are trying to adapt to the changes that technology drives. Especially the changes that Artificial Intelligence (AI) brings.
Reputation Intelligence is a very good business case in that AI and Natural Language Processing is used. Imagine having millions of news about different stakeholders and trying to analyze them manually. Almost impossible… The best way to get actionable insights and strengthen your strategic business decisions is to apply AI and NLP to these news. AI helps you eliminate the irrelevant, rubbish data and classify the news as Reputation Booster, Reputation Reducer, and Discrediting. And NLP helps you identify the companies, people, and organizations in these news as well as understand the context of the news.
Adding sentiment analysis to this process is the last link in the chain. Thanks to sentiment analysis, you can easily understand how the news is perceived by the audience.
Reputation Intelligence Use Cases with Artiwise
Finance
Every year millions of dollars are given to companies as credits by banks. It is very important for banks to give the right credit to right companies. Therefore, banks have different systems to decide whether to give credit or not. Financial scoring systems are widely used.
These systems are really important however not sufficient. Companies may have really good financial scores by the time they applied for credits. But, it may not be so. That’s where Artiwise’s AI-Powered Reputation Intelligence platform comes in. Artiwise crawles all the news about the commercial customers of the banks from local, national and international sources as well as trade registry sites, classify these news as positive-negative, important-unimportant and shows the insights whether the company’s situation is going well or going worse. Thanks to these insights, banks easily support their decisions regarding credits.
Every year, millions of dollars are saved thanks to Artiwise.
Supply-Chain
During the Covid-19 pandemic, the importance of supply-chain has become more vital than ever. When the lockdown decisions were announced, global trade almost came to a standstill. Ships could not dock at the port, production and distribution were interrupted like never before. And the chip crisis reached to a pick.
It’s very important for companies to plan their supply-chain. Even though you make the best supply-chain organization, choosing one wrong supplier can destroy your whole organization and plans. That’s where you wish to have a platform that monitors all your suppliers and give you the related insights and show the actions.
Artiwise tracks all the news about your suppliers and calculates their reputation instantly. All the news about your suppliers are classified as Reputation Booster, Decrease or Discrediting and taken into account for Reputation Score. When the Reputation Score of your suppliers decrease, Artiwise alerts you about this decrease and tells you to plan your next steps based on these scores and insights.
You can also track the news regarding your industry and get proactive actions before crisis happen.