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In today's competitive world, there are two key elements for success. One is quality product and services and the other, corporate credibility and reputation. To stay ahead in competition, big and small businesses rely heavily on business intelligence. Lack of proper tools for data mining, makes the task of gathering business intelligence highly cumbersome and the results mostly prove to be ineffective. Moreover, companies that rely on manual data collation and analysis through innumerable text reports, forum postings and newspaper articles end up spending much higher amounts on resources involved. Now there are many data mining tools available to assist company analysts in smart extraction of business intelligence. Extensive studies have been carried out in the Department of Computer Science, University of Sheffield on best practices of valuable intelligence gathering that can help businesses to build credibility and public opinion. The study has been divided in 2 segments. One is Opinion Extraction with the help of text analysis tools and applications like reputation tellers, which extract texts and visual graphics relevant to the company or product, posted across the internet. The second segment deals with Opinion Analysis and providing Business Intelligence in qualitative number (5 point scale) which will support companies in decision making. The study goes on to show how these statistical tools can be implemented at a practical level and help the corporate world to set up smart Business Intelligence processes.
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