Social Media Analytics
Overview
Social Media Analytics is a method to measure and determine different data sets that arise from activity on social networks, websites, blogs, etc. The purpose of this is to make more accurate and reliable business decisions. For example, using Social Media Analytics can measure site activity and a customers’ interests and habits, such as which posts and links get the most activity, how many people viewed your page, etc. This information can be used as details to determine different business decisions such as target market, advertising, revenue streams, etc. Using Social Media Analytics gives businesses a competitive advantage because it allows them to learn more about their customers. The goal of Social Media Analytics is to learn from customer activity and interactions and base future business decisions off of this.
How the topic relates to material covered in MIS2502
Social Media Analytics has a strong correlation with Entity Relationship Diagrams and Schema Diagrams because it focuses its data on different relationships, such as one-to-many, one-to-one, etc. in order to identify different customer activity. Furthermore, Social Media Analytics is used to connect with customers on a deeper level in order to predict customer behavior. This is similar to Decision Trees that we covered in MIS2502 because, just like decision trees, Social Media Analytics uses data captured from different activities to determine which customers to target and how to go about doing so; Social Media Analytics identifies a business’s primary customer influences. Furthermore, businesses have an advantage in using Social Media Analytics as they can access data that tells them which products to develop and which customers are satisfied or not.
Example
Aside from Google Analytics, there are many different Social Media Analytics platforms. An Example is 33Across’s analytics technology. 33Across analyzes online audiences and different forms of online activity and brand interactions to determine which markets businesses should target and where they should be focusing their targeting. Another marketing-based social media analytics platform is LocalResponse; LocalResponse tracks data through different dashboards and lets companies collect and read customer responses to different brands and advertisements.
Sources
Hardawar, Devindra. “Top 10 Social Media Analytics Tools: The VentureBeat index.” VentureBeat. N.p., 20 Dec. 2013. Web. 23 Apr. 2015
Jonnsen, Cory. “What Are Social Media Analytics (SMA)? – Definition from Techopedia.” Techopedias. Web. 23 Apr. 2015.
Rouse, Margaret. “What Is Social Media Analytics? – Definition from WhatIs.com.” SearchBusinessAnalytics. Nov. 2012. Web. 23 Apr. 2015.
“Social Media Analytics.” IBM. Web. 23 Apr. 2015.
Image From:
Sarnelli, Alessio. “Social Media Analytics: 8 Tool Gratuiti per Capirne Di Più.” Social Media Analytics: 8 Tool Gratuiti per Capirne Di Più. 13 Apr. 2015. Web. 23 Apr. 2015.