Social media has played an integral role in enterprises' growing accumulation of big data, and mining this information poses a considerable potential for reward. With the assistance of database experts, businesses can dig deeper into social information for insight into consumers' behaviors for a more predictive analytic model.
Information Management reported that when enterprises implement a big data initiative without a clear strategy or effective framework, the project is likely to fail. In order to achieve success, the source reported that businesses need to first invest in a framework to ensure that big data projects are in line with specific business goals, and that all business processes support the accomplishment of analytic objectives. According to the news source, improving strategic decision-making lies in an ability to identify opportunities, develop a road map for mining and leverage actionable insight from big data solutions.
However, these projects can be overwhelming, and Information Management suggested starting with social media analytics. With the assistance of DBA services, social analytics provide a measurable way of processing big data for enhanced business intelligence (BI). Unstructured social data can give businesses new perspectives on the brand sentiment, consumer habits and opportunities for improvement or successes in terms of products. The source explained that in order to accurately answer social big data questions, enterprises nee to approach objectives with awareness, analysis, influence and evaluation.
Information Management reported that by first gathering social data and extracting information regarding consumer awareness of the brand, businesses can better identify room for growth. Analytics informs these businesses of trends in consumer opinions using an advanced rules-based engine that assigns value to unstructured information. Influence allows firms to pinpoint influential users that could have an impact on the brand, and evaluation tracks response rates and measures social strategies.
A multi-dimensional customer view
Wired further emphasized the importance of social analytics, and asserted that if an enterprise is unable to create a holistic view by consolidating data, then the business has an inaccurate view of customers. The source reported that neglecting social data can result in not only a limited customer understanding, but also missed business opportunities. Further, a lack of customer insight can lead to public relations issues and hinder consumer satisfaction. The source recommended implementing a BI solution capable of real-time analytics.
Responding to customers demands instantaneous access to social media analytics. With a thorough and supportive big data framework, businesses can strengthen and secure relationships through more targeted techniques.
RDX's business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.