Pros And Cons Of Social Media Analytics

Social Media Analytics: Understanding the

Functional building blocks

Pros and Cons

Introduction

Every day, prospective consumers and customers propose feedback and engage in online discussion about businesses on sites like Twitter, Facebook etc. Social media, which are easy-to-access tools that allow digital communication and teamwork, are progressively making an influence on the global world. Social media has stretched from its beginning in the end user space to the point at which its result on brand and commercial reputation can be immediate and influential. Thus companies are discovering the importance to scrutinize and quantify this emerging space. The source of data for Social media is wide spread: Blogs (Blogger, LiveJournal), Micro-blogs

Social Media Analytics and features

It is the process of applying data (both structures as well as unstructured) from social media sites such as twitter, facebook, Google+ and other such sites for better understanding of customer attitude and behavior. It also serve as an effective tool for business and market research and ultimately for business decision making. The large availability of user-generated data and the links between users leads to the dispersion of useful information, opinions and sentiment as well as emergent issues and trends (Leskovec 2011; Agrawal et al. 2011; Nagarajan et al. 2011) and is referred to as ‘Social Media Analytics’.

Social media analytics can integrate social conversation into business processes. It provides easy social network management for day-to-day business operations. It adds a framework to analyzes billions of social media comments, mine valuable ideas from social conversations and provides customized outcome in charts and dashboards. Thereby inculcate the idea right through the business to improve the customer journey across all customer aspects- promoting brands, merchandise trade, customer care and more. By understanding customer responses and estimating the impact of advertising promotion, an organization can grow their business. Overall they can make better decisions and plans across an extensive range of functional

Though, many companies are finding it complex to choose the exact metrics they need to measure on their social media proposals. But in reality, there is no one way to measure. The metrics that is used to measure the achievement of one social media promotion might be significantly different from another, even for the same type of business. However a practical approach, to measure social media, is to start with the activities such as developing metrics to capture product reach, tracking sales through social media and evaluating the cost