
Social Media Spun Big Data into New BI Tool
With social media sites like Facebook crossing its 2 billion users mark, we can now safely say that our virtual presence determines our behavior in reality instead of the other way round. Social media users are more likely to share personal information than door to door surveyed. This gives industries and retailers a unique opportunity to optimize their market research regarding customer behavior and preference. Nevertheless, integrating social media metrics in business intelligence (BI) has revolutionized data-driven marketing campaigns. The shift of businesses from real platform to virtual platform—digital marketing, crypto currency, digital currency, e-commerce, online banking—is shrinking the world into a finite virtual dimension. A lot of marketers and enterprise executives are opting to gain the pattern of economic scenario, customer preferences, and future predictions of the market from social media metrics.
Social media metrics help gather big data about the volumes of shares, likes or mentions a particular article, page, information graph, status, comment and other such textual or pictorial features generated by a company or individual. An individual or company’s engagement of social media users into their digital promotion helps in word of mouth marketing in the long term. Social media sites have established various metrics tools to analyze the traffic pattern of each web page and website, such as Facebook Insights, Twitter Analytics, Google+ Insights, and Google Analytics metrics. Big data has revitalized almost every industry and the unstructured data extracted from social media and forums have a huge positive impact on the market as a whole. Companies are able to mine various unprecedented valuable data on customer behavior due to the transparency on social media users without having to prompt these users and potential customers. The social conversation regarding a brand, average visitor’s traffic, audience growth rate, and inclusion of brand name in a social conversation online can all be traced using social media and it would be a boost for business intelligence to get superior results.
Social media provides a cost-effective marketing service and engages the trending factors within the user community regarding various fields into their basic analysis. This information analysis simplifies market research by reducing physical contact between the consumers, investors, and producers. The data that are being continuously generated gives enterprises and other businesses a layout of their competitors’ strategy, social behavior under a volatile ecosystem, choice of customer segments, future research material, and popular factors within the community. Social media followers are a form of formal documentation of the size of loyal customers and viewership traffic of an online content of a brand is a testament to the growth in potential client population.
Social networking metrics help industries advertise to the accurate target in a lucrative state by engaging only the potential customers. The contents of social media created by users enrich BI data and provide a wide range of information regarding the problems of the market and what they need to create to address those problems. Viral marketing and social activism are the new tactics adopted by various companies to spread their content materials to a wide range of social media users through messaging applications, social networking services, online forum, etcetera. Collaboration among departments of an industry has the potential to grow by leveraging big data obtained from social business intelligence metrics and using it to enhance their products and services.
Our online presence has become a daily routine and our imitation of life represented on social media as an ideal is slowly being adopted as reality. It has become the most effective path to connect with base users and understand their wants and desires and create user-centric solutions. Research and analysis have been remodeled by social media metrics to cater to the ever rising demands of present and future prediction of market environment.
Review: CIOReview
ON THE DECK
Featured Vendors
Next Level Business Services (NLB): Applying Digital Transformation to Create Supply & Service Value Chains of the Future
Gerber Technology: Reshaping the Dynamics of the Fashion & Apparel and Flexible Materials Industries
FileFacets: A One-stop Solution for Locating and Identifying Data Across the Enterprise" title="Jennifer Nelson, VP, Sales & Marketing" style="float:left; margin-right:10px; margin-bottom:20px;" width="60px" height="50px">
FileFacets: A One-stop Solution for Locating and Identifying Data Across the Enterprise
Infoworks: Dynamic Data Warehousing on Hadoop that Automatically Ingests and Organizes Enterprise Data for All Use-cases
ThetaRay: Advanced Data Analytics Provide an Enhanced Security Layer to Combat Bank Fraud and Cybercrime
VentureSoft Global: Robust Big Data Solutions for Customer, Product Profitability and Operational Efficiency
Absolut-e Data Com BizStats – Leveraging Artificial Intelligence To Extract The True Potential Of Data
Relational Solutions, Inc.: Delivers Enterprise Demand Signal Repositories to the Consumer Goods Ind
Emagine International: Adaptive Contextual Marketing Platform for Personalized Customer Interactions
Cygnus Professionals: Translate Big Data into Actions: An Analytics Platform Transforming Enterprise
EDITOR'S PICK
Essential Technology Elements Necessary To Enable...
By Leni Kaufman, VP & CIO, Newport News Shipbuilding
Comparative Data Among Physician Peers
By George Evans, CIO, Singing River Health System
Monitoring Technologies Without Human Intervention
By John Kamin, EVP and CIO, Old National Bancorp
Unlocking the Value of Connected Cars
By Elliot Garbus, VP-IoT Solutions Group & GM-Automotive...
Digital Innovation Giving Rise to New Capabilities
By Gregory Morrison, SVP & CIO, Cox Enterprises
Staying Connected to Organizational Priorities is Vital...
By Alberto Ruocco, CIO, American Electric Power
Comprehensible Distribution of Training and Information...
By Sam Lamonica, CIO & VP Information Systems, Rosendin...
The Current Focus is On Comprehensive Solutions
By Sergey Cherkasov, CIO, PhosAgro
Big Data Analytics and Its Impact on the Supply Chain
By Pascal Becotte, MD-Global Supply Chain Practice for the...
Technology's Impact on Field Services
By Stephen Caulfield, Executive Director, Global Field...
Carmax, the Automobile Business with IT at the Core
By Shamim Mohammad, SVP & CIO, CarMax
The CIO's role in rethinking the scope of EPM for...
By Ronald Seymore, Managing Director, Enterprise Performance...
Driving Insurance Agent Productivity with Mobile and Big...
By Brad Bodell, SVP and CIO, CNO Financial Group, Inc.
Transformative Impact On The IT Landscape
By Jim Whitehurst, CEO, Red Hat
Get Ready for an IT Renaissance: Brought to You by Big...
By Clark Golestani, EVP and CIO, Merck
Four Initiatives Driving ECM Innovation
By Scott Craig, Vice President of Product Marketing, Lexmark...
Technology to Leverage and Enable
By Dave Kipe, SVP, Global Operations, Scholastic Inc.
By Meerah Rajavel, CIO, Forcepoint
AI is the New UI-AI + UX + DesignOps
By Amit Bahree, Executive, Global Technology and Innovation,...
Evolving Role of the CIO - Enabling Business Execution...
By Greg Tacchetti, CIO, State Auto Insurance
Read Also
