Assessment, Implication, and Analysis of Online Consumer Reviews: A Literature Review

The onset of e-marketplace, virtual communities and social networking has appreciated the influential capability of online consumer reviews (OCR) and therefore necessitate conglomeration of the body of knowledge. This article attempts to conceptually cluster academic literature in both management and technical domain. The study follows a framework which broadly clusters management research under two heads: OCR Assessment and OCR Implication (business implication). Parallel technical literature has been reviewed to reconcile methodologies adopted in the analysis of text content on the web, majorly reviews. Text mining through automated tools, algorithmic contribution (dominant majorly in technical stream literature) and manual assessment (derived from the stream of content analysis) has been studied in this review article. Literature survey of both the domains is analyzed to propose possible area for further research. Usage of text analysis methods along with statistical and data mining techniques to analyze review text and utilize the knowledge creation for solving managerial issues can possibly constitute further work.