Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    big data analytics in transporation
    Turning Data Into Decisions: How Analytics Improves Transportation Strategy
    3 Min Read
    sales and data analytics
    How Data Analytics Improves Lead Management and Sales Results
    9 Min Read
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Can Real-Time Social Analytics Provide Early Indications of Business Results
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Social Data > Can Real-Time Social Analytics Provide Early Indications of Business Results
AnalyticsSocial DataText Analytics

Can Real-Time Social Analytics Provide Early Indications of Business Results

Jennifer Roberts
Jennifer Roberts
4 Min Read
SHARE

As more consumers use social media to express their preferences, their location and what they’re purchasing and why, the more social intelligence can begin to inform predictions of business results. Social media analytics may offer early signifiers of how well a campaign, discount or show is preforming. For example, monitoring and categorizing social media conversations for consumer expressions of intention to buy or view can provide actionable insights into how well a a premier or coupon program is preforming within a select demographic, for a specific time frame

Contents
Data Informs the Path to ActionUsing the Social Barometer

As more consumers use social media to express their preferences, their location and what they’re purchasing and why, the more social intelligence can begin to inform predictions of business results. Social media analytics may offer early signifiers of how well a campaign, discount or show is preforming. For example, monitoring and categorizing social media conversations for consumer expressions of intention to buy or view can provide actionable insights into how well a a premier or coupon program is preforming within a select demographic, for a specific time frame

Click image to enlarge

Analyzing for those insights involves not only categorizing relevant data but the application of sophisticated filtering to surface consumer intentions and preferences as they related to a brand.  A social indicator can be constructed to provide values related to behavior and intention of a consumer, but the underlying category may also include metadata, such as:

More Read

Applying Big Data to 2011 Holiday Shopping Information
Predictive Analytics Is Lifting The ROI Of POS Marketing
Open Source is Opening Data to Predictive Analytics
2015: The Year of IoT Pioneers, Analytics and Data Privacy
What are Advanced Segments in Google Analytics and Why You Should Use Them
  • demographic
  • VOC
  • life stage
  • psychographic
  • social media platform
  • location
  • sentiment

Data Informs the Path to Action

At the highest level, identified consumer expressions of intention or issues may tie directly to other business metrics. For example, social media conversation around intention to buy may provide direct and emerging knowledge of sales data. How an organization chooses to act upon that intelligence will involve an understanding of the other elements that have been captured in that specific category.

One important point to understand is that in order for social media analytics to move beyond simple monitoring for mentions it needs to be able to capture, in real-time, consumers disclosing their intentions and preferences. Not only does this data need to be accurate but there’s a certain level of sophistication required to extract additional meaning beyond a customer mentioning a product or brand.  A more exact analysis of a consumer expressing a problem directly related to a product may provide a business with an early alert before the larger market becomes aware giving an organization enough time to equip their customer service agents with the knowledge to resolve the problem.

(This article on Twitter spreading the news of an outbreak before health officials provides a real-world description of this example.)

Using the Social Barometer

To enable your organization to leverage the predictive qualities of social media, identify those consumer activities that can be directly related to business metrics. You might call this your organization’s Social Barometer. After defining the social barometer for your organization apply that lens to your social analytics strategy. The resulting intelligence will be more valuable and actionable and, more importantly timely, which can be used to inform and optimize how an organization engages with your consumer in real-time.

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

big data analytics in transporation
Turning Data Into Decisions: How Analytics Improves Transportation Strategy
Analytics Big Data Exclusive
AI and fund manager software
AI And The Acceleration Of Information Flows From Fund Managers To Investors
Artificial Intelligence Exclusive
sales and data analytics
How Data Analytics Improves Lead Management and Sales Results
Analytics Big Data Exclusive
ai in marketing
How AI and Smart Platforms Improve Email Marketing
Artificial Intelligence Exclusive Marketing

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

Visualizing the census

2 Min Read

Stat Models, Astronomical Mysteries…and Business Data

4 Min Read

Putting predictive analytics to work with decision management #paw

1 Min Read

How Big Data and Statistical Modeling Are Changing Video Games [WEBINAR REPLAY]

2 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?