Dynamic Sentiment Analysis with Local Large Language Models using Majority Voting: A Study on Factors Affecting Restaurant Evaluation

User-generated contents (UGCs) on online platforms allow marketing researchers to understand consumer preferences for products and services. With the advance of large language models (LLMs), some studies utilized the models for annotation and sentiment analysis. However, the relationship between the accuracy and the hyper-parameters of LLMs is yet to be thoroughly examined. In addition, the issues of variability and reproducibility of results from each trial of LLMs have rarely been considered in existing literature. Since actual human annotation uses majority voting to resolve disagreements among annotators, this study introduces a majority voting mechanism to a sentiment analysis model using local LLMs. By a series of three analyses of online reviews on restaurant evaluations, we demonstrate that majority voting with multiple attempts using a medium-sized model produces more robust results than using a large model with a single attempt. Furthermore, we conducted further analysis to investigate the effect of each aspect on the overall evaluation.

Multimodal Deep Learning of Word-of-Mouth Text and Demographics to Predict Customer Rating: Handling Consumer Heterogeneity in Marketing

In the marketing field, understanding consumer heterogeneity, which is the internal or psychological difference among consumers that cannot be captured by behavioral logs, has long been a critical challenge. However, a number of consumers today usually post their evaluation on the specific product on the online platform, which can be the valuable source of such unobservable differences among consumers. Several previous studies have shown the validity of the analysis on text modality, but on the other hand, such analyses may not necessarily demonstrate sufficient predictive accuracy for text alone, as they may not include information readily available from cross-sectional data, such as consumer profile data. In addition, recent advances in machine learning techniques, such as large-scale language models (LLMs) and multimodal learning have made it possible to deal with the various kind of dataset simultaneously, including textual data and the traditional cross-sectional data, and the joint representations can be effectively obtained from multiple modalities. Therefore, this study constructs a product evaluation model that takes into account consumer heterogeneity by multimodal learning of online product reviews and consumer profile information. We also compare multiple models using different modalities or hyper-parameters to demonstrate the robustness of multimodal learning in marketing analysis.