Data analytics involves an increasingly complex set of variables. For many businesses, the amount of available data can seem overwhelming. This is especially true when trying to leverage social media data specific to a particular consumer. Innovation and emerging trends are bringing order to the chaos. Spectacular business insights are now avialble for independent company operations and their leading brands.
The Value of Social Media Analytics
Online campaigns, as well as optimizing business operations, now depend upon social media analytics. Easily managed tools are becoming increasingly available. In addition to high level analysis, these intelligence tools provide a way to listen and gauge the sentiment of a consumer base. When the technology is applied well, it produces great value in three key areas:
● reliable metrics
● relevant analysis
● accurate monitoring
Social media analytics is about making business decisions. It involves obtaining clear metrics through data mining from online resources like popular sites. Data mining itself has been a hot topic in past discussions about leveraging the social media consumer. This is no longer the case. Today, businesses require highly specialized analytics to maintain a competitive edge. This means that intelligent tools are needed to tailor social media analytics for brand specificity.
Emerging Trends in Data Analytics
Among the most common uses of social media analytics is consumer sentiment and insights. Technologies like natural language processing (NLP) have proven themselves in their ability to better mine consumer data with a high degree of accuracy. Several emerging trends expect to continue to refine how businesses use social media analytics. These include:
● highly targeted social media analysis
● customizable tools
● do-it-yourself (DIY) solutions
● mobile commerce
● real-time analytics
● automated theme discovery
Insights for Business and Brands
Emerging trends are becoming profoundly influential in the modern marketplace. Highly specialized social media analytics are evolving with things like mobile commerce. Other trends like do-it-yourself (DIY) solutions flow naturally with these tools. From broad insights that improve operational efficiency to better targeted campaigns, social intelligence tools are improving data diagnostics. Tangible benefits can be seen immediately through things like actionable insights of a particular business’s leading brand. Fluctuating consumer sentiment is another key area where insights are deemed of critical value.
The use cases for social media intelligence tools continues to expand. The business world has realized that the technology must be adopted or risk losing a competitive edge. Companies can use intelligence tools to support their existing operations and create smarter campaigns. When employed properly, these technologies can translate into a significant advantage in the marketplace. In fact, one emerging practice involves improving an organization’s ability to leverage these tools.
Services like those provided by NetBase streamline this process. A dedicated support staff and customized intelligence tools help companies realize their full potential. These services demystify the marketplace. The result is a more understandable online environment and end consumers better matched to products they need. Companies benefit from more efficient operations and complete discovery of their consumer base.
About NetBase Quid
NetBase Quid provides custom solutions in the field of social analytics. Its intelligence tools use the latest AI to advance a business’ marketplace standing. By understanding behaviors, emotions and opinions, NetBase clients can better target their end consumers. Actionable insights replace much of the guesswork that has become typical of efforts to leverage social media. Instead of a trial-and-error approach, companies can benefit from real-time adjustments of NetBase provided tools to better reach their goals.