I am getting a lot of questions about the relationship between Social and Big Data!
Here’s my view. An effective social business can’t exist without a strong set of analytics resources and know-how behind the scenes. A social business is about more than just collaboration; it’s about applying social technologies to business processes in order to radically improve the way organizations operate.
In 2010, Gartner predicted that social analytics would be one of the top 10 strategic technologies for 2011. This comes as no surprise. Look at the explosive growth of social networking with 700 million on Facebook, expected to reach 1 billion in 2011.
There is an untapped power in the “data” generated by social networking sites. 80 percent of this data is unstructured, and typically takes the form of a conversation among customers on a message board. This represents a challenge for organizations trying to learn from it or use it to make decisions. With social analytics, companies back make sense of this data, unlocking a valuable asset. By scanning the data of the social networks (from both inside and outside the organization), you can interconnect the key data by applying analytics.
For key business areas including Marketing, social analytics plays an important role. Social analytics tools can deliver insight on visitor marketing and purchasing behavior. They can also help organizations personalize the online environment for each customer, create a “multichannel” environment, justify social media as a marketing tool, and influence browsers. Social analytics enables organizations and marketers to better understand their constituents in order to take the best next course of action so maximum business results can be achieved.
Big data and Social are linked I believe forever.
What’s your Point of View?
You’re able to gain insight into things like general attitude towards your brand, preferences and even gain insight into buying behaviors. With this insight, you can make intelligent business decisions.