My requirement is taking in news articles and determining if they are positive or negative about a subject. I am taking the approach outlined below, but I keep reading NLP may be of use here. All that I have read has pointed at NLP detecting opinion from fact, which I don't think would matter much in my case. I'm wondering two things:
1) Why wouldn't my algorithm work and/or how can I improve it? ( I know sarcasm would probably be a pitfall, but again I don't see that occurring much in the type of news we will be getting)
2) How would NLP help, why should I use it?
My algorithmic approach (I have dictionaries of positive, negative, and negation words):
1) Count number of positive and negative words in article
2) If a negation word is found with 2 or 3 words of the positive or negative word, (ie: NOT the best) negate the score.
3) Multiply the scores by weights that have been manually assigned to each word. (1.0 to start)
4) Add up the totals for positive and negative to get the sentiment score.