MIS 2502 Extra Credit: Social Media Analytics
Accompanied with the explosion of social media in our life, organizations have to spend a vast amount of money to acquire the customers’ feedback and opinions. However, the good news is organizations can use Social Media Analytics to achieve their goal easier with a cheaper price. This tool is powerful because it can collect data from social media, including Facebook, Twitter and analyze it to find the answers to questions about the customers like “How healthy is your Facebook Fan Page?” Furthermore, the information can also help company to prepare for product advertisement, public relations and initiate customer care. Thus, using Social Media Analytics is a good way to connect customers` tendency with product promotion.
I believe Social Media Analytics is related to MIS 2502, because we have learned data mining before, which is by collecting the past data to analyze and find the useful information. One of the best example is Amazon.com using recommendation system to list relative products for their customers in order to increase the purchase rate. Social Media Analytics, such as SAS Social Media Analytics, also creates a social media analytics, including a data mining model, which can help companies to get real and useful information. Then, social media analytics can use the data for periodic analysis in order to support the manager`s decision.
An example for Social Media Analytics usage is the MTV `s TV show “Teen Wolf”. MTV is a basic American cable network. The network tries to found some useful data about their new show “Teen Wolf” due to its low ratings and profit loss after its premiere. By using Social Media Analytics, it collected the social conversations about the show and other topics related to teenagers (, which is the target market for “Teen Wolf”). The company found out that teenagers pay more attention to the gay character and the gay relationship. Social Media Analytics helped MTV find what their consumers really want. Eventually, “Teen Wolf” added more LGBT related content to attract audience. As a result, the show became the network’s most watched TV series in its following season.
Some popular Social Media Analytics
– Klout
– Sprout Social
– SAS Social Media Analytics
– Hootsuite
– SimplyMeasured
Works Cited: JP, Mangalindan, “Amazon’s recommendation secret”, fortune.com, July 30, 2012 <http://fortune.com/2012/07/30/amazons-recommendation-secret/>
Ashley Stuart, “How to Conduct a Social Media Competitive Analysis”,www.swellpath.com, January 31, 2013 <http://www.swellpath.com/2013/01/conducting-a-social-media-competitive-analysis/>
Judith Aquino, “Transforming Social Media Data into Predictive Analytics” www.destinationcrm.com, November 2012<http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/Transforming-Social-Media-Data-into-Predictive-Analytics-85687.aspx>