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
    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 and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Honing in on the Value of Social Media Data
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 > Data Mining > Honing in on the Value of Social Media Data
AnalyticsData MiningSocial Data

Honing in on the Value of Social Media Data

TeradataExperts
TeradataExperts
4 Min Read
SHARE

My colleague in Consumer Goods, Tim Shaw, recently passed along an interesting article from Deloitte titled “Making Sense of Social Data.” It raises a number of points applicable to consumer goods as well as other industries, but most interestingly concludes social media data’s greatest value is realized when connected “

My colleague in Consumer Goods, Tim Shaw, recently passed along an interesting article from Deloitte titled “Making Sense of Social Data.” It raises a number of points applicable to consumer goods as well as other industries, but most interestingly concludes social media data’s greatest value is realized when connected “very deeply into your operating model,” and is of an implicit nature. That’s not how most businesses employ social media data currently.

The article places social media within the context of three waves playing out in Big Data. Phase one has nothing to do with social media; rather it’s the traditional, transaction-based knowledge commonplace among retailers — but less so in consumer goods — in combination with the wealth of insights available in web analytics:

“…purchasing histories, demographics, measures of engagement—that make customer targeting more feasible.”

More Read

IBM Cloud Labs The world’s largest network of cloud…
Can You “Near Me Now”?
Experts: Location Intelligence unlocks the power of your data
Web Content Management: An Open and Closed Case?
Big Data and the Demise of Analog Retail

That’s changing as CG adopts Demand Signal Repositories (DSR) that incorporate shopper and loyalty data, but it may be less actionable in a direct marketing sense, as it lacks consumer communication channel preferences and permission along with the ability to take action.

Phase two is a state many industries find themselves in today, where social media is a “bolt on” to some aspect of the business – think customer service, and marketing campaigns and promotions. Data generated is explicit, in that it’s volunteered by the consumer, but unlikely integrated with the aforementioned transaction, demographic and web data.

It’s the third phase where social media’s value is unleashed, when analytics blends with varied data sources to create an implicit understanding of consumers:

“In this wave, the focus shifts from the voice of the customer to the individual’s behavior. But more importantly, it looks at that behavior in the context of who is around them and how they interact. It gets below the curated, surface-level information we put out about ourselves online, to help understand what our digital trails and network really say about us.”

I say “varied sources,” because the article claims mobile will contribute even more to consumer understanding than social. Given the adoption of smartphones, it makes sense. Mobile is state based, real time and offers multiple channels to connect with consumers at the point of action. This is especially applicable to Consumer Goods, where the mobile channel presents an opportunity to connect with and influence shoppers independent of the retailer while at the point of purchase.

With so much data generated by so many sources, updated almost continuously, it will be important to isolate the most relevant information — much like settling on the key performance indicators (KPIs) and metrics important to your business amid all the possibilities.

“It doesn’t take all the data in the world, however. With so much data available, from so many different sources, it may actually be possible to build a 360 degree view of the customer; but for most companies, 15 degrees will do. The real challenge is making sure that you have the right 15 degrees.”

Teradata’s varied capabilities appear uniquely matched to all of challenges outlined in the article. Do you agree?

Gib Bassett

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

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
AI Document Verification for Legal Firms: Importance & Top Tools
AI Document Verification for Legal Firms: Importance & Top Tools
Artificial Intelligence Exclusive
AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

How Do You Turn Supply Chain Data into Actionable Information?

5 Min Read

Modeling : R Code,Books and Documents

2 Min Read

Some Thoughts on Pushing BI Beyond Business Managers

3 Min Read
Image
AnalyticsBig DataJobs

3 Ways to Become a Data Scientist

6 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 chatbot
The Art of Conversation: Enhancing Chatbots with Advanced AI Prompts
Chatbots
data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data

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?