Social Media and Business Intelligence
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Social Media and Business Intelligence


social media can be a fantastic business
intelligence platform Listening is the first step you need to take
to acquire data you need for analysis There are numerous channels of
information online a simple way to start
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is by searching for information using
any of the popular search engines such as Google Yahoo or Bing
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There are specialized search engines and tools
however I’d recommend examining them once you have gained
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basic proficiency in listening online News sites could be your first source of information about your products and services Blogs are another popular source where
people often review products and give their opinions A whole lot of sites enable
conversations among people especially social media sites like Facebook or Twitter
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this could be a great place to listen quite a few people also broadcast audio
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in the form of personal podcasts
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or online radio streams More and more content is now in the video format
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which is present on popular sites like
YouTube Vimeo etcetra There are a number of communities both
online or offline where members discuss topics of interest on the community
forums and across independent forums this can be a valuable source of
information as well In addition to searching for information on your products and services it’s a
good idea to use additional keywords
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such as good bad issues etc as this will return even more results Once you’ve collected all this data the next step in gaining business
intelligence is to categorize this information
in discreet sets For example you could categorize information according to maybe feedback you’ve received or on your latest advertising campaign or it could be feedback about your latest
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product offering or maybe it’s comments
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about the features of your latest product
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additionally it could be about how
people perceive your product against the competition Another kind of data set could be regarding requests for customer
service or how good or bad it is you could possibly also get information about the pricing of your products
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Overall it could also be about the user experience with your products or servers or the organization as a whole You could also categorize the people out there maybe you have people who speak positively about our products and
services these could be potential advocates Additionally you might discover that some people have a whole lot of engaged
followers
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and these could be your potential
influencers.
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This exercise of categorizing
information will itself reveal
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an amazing number of insights about
people their opinions and competitive data But you’ll gain real business intelligence once you begin to analyze all the data which you’ve
collected Asking questions is a good way to begin any analysis For example who is out there discussing what and where and how many conversations are happening You could start wit
h
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charting out the conversation volume
across social channels you would get to know which channels to
focus on or maybe there are some channels where your
customers are and some channels where they’re not on at all Once you’ve collated or rather mapped out this data
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You’d need to create a baseline for this
information so that you can monitor how
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how it changes over a period of
time depending on activities which you do as
an organization Additionall you can map out information
such as let’s say for instance a b and c
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represent certain product features what do people think about these
features what are their viewpoints what is
the overall sentiment Are they positive and raving about
these features or are they negative and critical about a particular feature maybe there’s one particular feature set that is where they’ve just got awesome positive things to
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talk about only and some which are
totally negative So that’s what you get to know
Additionally you can map out the volume of
conversations across your key competitors t
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know how you fare against the competition That would be pretty useful information to
have An interesting exercise
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would be to map additional data on these charts for example across the chart where you’ve recorded the
volume of conversations
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channels you could map product sales information for example Keeping track of this over a period of time might reveal
interesting correlations between conversation volumes across certain
channels and increased sales of your
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products or services Mapping additional data on this could be pretty useful as the example out here which is regarding sales
.
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Following these steps which I’ve outlined
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can help you gain a whole lot of
business intelligence and insight via social media and community channels out there Remember there are three steps to this listen categorize and then analyze to gain
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business intelligence

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