Impact of customer reviews and ratings on product sales and customer perception

Abstract

Reviews and ratings are an essential part of the decision-making process for many consumers, and businesses in various industries are aware of this fact. In this study, we will explore the different industries in which reviews and ratings are important, how they impact the industry, and why consumers rely on them. We will study the few common dictionaries available in Natural Language Processing (NLP) including the ones that can be used in analysing the brands' reviews. We wil l also discuss the analytical methods, both general and N LP-based, that can be used by the businesses to analyse these customer reviews. This analysis can provide valuable insights to the businesses that can help in improving them in long run.