Social Media Analytics: Techniques and Insights for Extracting Business Value Out of Social Media

An IBM Press book
by Matthew Granis, Avinash Kohirkar
Published: 21 Dec 2015, ISBN: 978-0-13-389256-7

3

Description

Transform Raw Social Media Data into Real Competitive Advantage

Social media gives businesses an unprecedented opportunity for connecting with customers and prospects which became the real competitive advantage. There are numerous social networks that provide with a vast array of raw data which is competitive. The data can take you on the edge of the competition, if you know how to analyze it providing customer service, explaining how the products work, and much more.

Social Media Analytics provides much-needed understanding of both what can be accomplished by examining social streams and why such insights matter. In the first part, the book looks at data identification, sources, determining relevancy, and time horizons. In Part II, several chapters explain ways to find data—what tools, how to understand output, and getting deep into the insights themselves. Part III goes further into interpreting data, looking at potential shortcomings of social analysis and useful ways of sharing insight through visualization.

Two leaders, Matt Ganis and Avinash Kohirkar, of IBM’s pioneering Social Media Analysis Initiative offer thorough and practical coverage of the entire process: identifying the right unstructured data, analyzing it, and interpreting and acting on the knowledge you gain.

Their expert guidance, practical tools, and detailed examples will help the reader learn more from all the social media conversations, and avoid pitfalls that can lead to costly mistakes.

Readers will learn how to:

• Focus on the questions that social media data can realistically answer
• Determine which information is actually useful to you—and which isn’t
• Cleanse data to find and remove inaccuracies
• Create data models that accurately represent your data and lead to more useful answers
• Use historical data to validate hypotheses faster, so you don’t waste time
• Identify trends and use them to improve predictions
• Drive value “on-the-fly” from real-time/ near-real-time and ad hoc analyses
• Analyze text, a.k.a. “data at rest”
• Recognize subtle interrelationships that impact business performance
• Improve the accuracy of your sentiment analyses
• Determine eminence, and distinguish “talkers” from true influencers
• Optimize decisions about marketing and advertising spend

Whether you are a marketer, analyst, manager, or technologist, you’ll learn how to use social media data to compete more effectively, respond more rapidly, predict more successfully..grow profits, and keep them growing.

Summing up, the book broadly explains the data identification, data analysis, information interpretation, deep analysis of the data and of course, how does the data translate into business value.