This topic is fascinating as it arose as a result of a recent trend and has become unavoidable in all businesses today. Social analytics can be used in all types of businesses ranging from community businesses to major corporations (Ruhi, 2014). Social Media Analytics has become an invaluable tool in determining several features - the effectiveness of a marketing campaign, brand management, providing a means of evaluating the businesses performance against the performance of its competitors, gaining customer’s opinions and determining trends (Ruhi, 2014)
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This essay will explain the use of social analytics and how it helps enterprises. It will begin by introducing social media and why it has become so powerful. This paper then moves on to social media being used in the workplace and a general overview of social media analysis. The paper will then discuss the difference between business intelligence and analytics and Social media analysis metrics. Analytic functions are later explained, followed by the advantages and disadvantages of social media analytics. The paper will then touch on the various Social Analytic platforms as well as how the insight is displayed. It will then end with facts, the cloud, social analytic business cases and restricting factors.
The rise of Social Media
Social media also allows individuals, companies, organizations, governments, and parliamentarians to interact with large numbers of people (Dewing, 2012). Internet access became more prevalent -the first appearance of social media was a site called SixDegrees.com (Dewing, 2012). It then faded by 2001 and a host of other sites were launched, such as Friendster, MySpace, Facebook and Twitter (Dewing, 2012). Social media has begun to challenge traditional marketing
Over the past decade, there has been a considerable debate about the effect of social media on individuals and societies. In fact, social media has become inseparable part of our life. It is not a new thing and has various forms. It emerged in the late seventies and the early eighties with the emergence of USENET, Bulletin Board System, AOL. In around 1994, private internet service providers came with new technology revolution in the major cities of the USA. This gave a golden chance to the millions of people to come online and gave them the access to the internet. This era was the dawn of the social media. This gave birth to various online social sites like classmate.com, P2P, Napster, Sixdegree, Friendster, Myspace, LinkendIn, etc. There
Using social media to market an organisation has become more common and integral to a success of a brand, product, and company. Social media strategies are used by many organisations, but how do you know if they are successful and worth your time and money? A social media’s success can be tracked quantifiable using metrics (Gold). There are hundreds of social media and web metrics that can be used to determine if a social media campaign is successful, but a few are key and should be monitored at all times (Chitwood). The nine social media metrics presented below are important to the success of a business and should be measured throughout the planning, execution, and evaluation stages of your social media campaign.
Before social media, people accessed the internet mainly to check their e-mails; they were physically social by meeting other people personally to communicate. Businesses were focused on using traditional mediums, such as TV, print, etc. to advertise their product and services. Nowadays, people have become virtually social; social media have made it easy for more meetings to be conducted through social networking rather than just meeting face-to-face. More and more businesses are investing a considerable amount of time and money to understand the use of social media and how it can benefit them.
There might be few people in the globe who are not aware of social media especially most famous networking sites such as Facebook, Twitter, Youtube and Wikipedia. It is declared in Time Magazine’s ‘Person of the Year’ in the year 2006 that social media has been introduced to rule the world. As of course, there are many variations on the basis of culture and geographical in the social networking sites, but their main aim is the same. We can take the example ...
has become much easier for companies given the new technologies available. However, the wider the span of audience a company tries to reach, the higher the cost of resources. Social media websites offer numerous tools and applications that could greatly increase the growth of small businesses and non-profit organizations and can be much more cost-effective [30]. Social sites can be used to network with organizations to help potential employees find employment and give corporate ...
Social media was considered as a temporary trend. Something that “the kids” were using that businesses could not profit from. As time passes by, they were proved wrong. There are over 3 billion internet users and over 2 billion of them are active on different social media sites. Popular social media platforms have turn into a marketing place for various products. Offering the business an important data about their customer’s needs and wants. According to Copp (2016), there are 10 benefits of social media for business. First one is that it gains valuable customer insights. Through daily active engagement and social listening, a business can be capable of collecting important customer data and use the information to make smarter business
Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons, 53(1), 59–68. doi:10.1016/j.bushor.2009.09.003
Social media start as a very personal tool for users to communicate with their friends and closely related people. Soon after, business area have also take the advantage of this innovative way of exchanging information.
Social media, or web 2.0 began as an Internet based computer application or user-generated application that facilitates the use of social networks by connecting personal or business profiles with those of other individuals or companies. Social media allows people and businesses to share and exchange information, offer ideas, and promote products in virtual communities and networks.
Social media proves time and time again that it can be a very successful tool for helping to grow and expand a business, when used correctly. However, there are many limitations to using social media that need to be taken into consideration. One of the limitations is that companies struggle to determine how their social media platforms are generating sales and profits based on their likes and followers. The ability for a company to identify a concrete methodology to evaluate the success of their social media programs is difficult for most companies and even though who had invested time and resources into assessing this key performance indicator still understand that the methodology used is not necessarily providing them with concrete impact (Sandilands, n.d.). Due to the fact that it takes time for the likes and followers to grow and form a substantial
Social media is an imperative public relations tool for companies to utilize in their business practices. Social media cannot be regulated so anyone can say what they please about the company, whether it is good, bad or ugly. Social media is developing rapidly and there are new platforms
Social media is pertinent in use of communication throughout today’s organizations. There are many social media platforms that allow organizations to convey communication to potential consumers, stakeholders and the public. “It is essential for leaders to integrate these technologies and seek the best way to use social media and networks to the advantage of the business” (Billington, 2012, p.1). Business owners find that keeping up with current technology trends is essential in having a competitive advantage in the market place and having a strict set of standards and strategy is important in quickly adapting to social media trends.
Social media avenues are a new, upcoming, and popular way to advertise for businesses and for people to connect to each other. Alexis Ohanian once said that "Being effective at social media, whether for business or personal use, means capturing people who have short attention spans. They 're only a click away from a picture of a funny cat, so you have to make your thing more compelling than that cat. And that can be a high bar." (Ohanian) Powerful usage of social media can have a big impact.
Social media is a form of online communication channels devoted to society input, intercommunication, and cooperation. In social media, people can talk and interact without restriction, exchange and debate information with each other about their lives by using many different combinations of the words, personal multimedia, photos, and videos. Also, in social media, individulsa and groups can create, edit, comment on, and engage in personal conversations. There are numerous types of social media, for example, wikis, blogs, social network site, micro blogging services, and sites sharing media. At the beginning, social media was limited to a few networks sites, for instance, Bulletin Board System that allows people to communicate with each other and post a comment. Today, social media has transformed from ineffective sites to more useful and effective websites, for example, Facebook, and MySpace. Some companies are using social media to achieve their goals which is attracting more customers to company website. Three advantages of using social media in business are: raising brand consciousness, building customer relationships, and increasing performance measurements.
Nowadays, social media is growing very rapidly throughout the whole world. Social media has changed the way that we communicate with others through using these common social networking sites like Face book, Twitter, and Instagram…For that, social media has positively and negatively impacted our life.