Social Media Analytics
Social media analytics (SMA) refers to the approach of collecting
data from social media sites and blogs and evaluating that data to
make business decisions. This process goes beyond the usual
monitoring or a basic analysis of retweets or "likes" to develop an
in-depth idea of the social consumer.
Examples of social media analytics tools include Sprout Social,
Google Analytics, Hootsuite and Buffer Analyze.
Common Use of SMA
Social media analytics is the process of gathering and
analyzing data from social networks such as Facebook,
Instagram, LinkedIn and Twitter. It is commonly used by
marketers to track online conversations about products and
companies.
Applications
The study found that SMA tools and techniques which have
been used are sentiment analysis, youtube analytics, visible
intelligence, IBM Watson tool and predictive models and
Twitter
Social Media Landscape
The social media landscape is made up of different platforms
and apps that enable people to connect and share in different
ways. People often engage with multiple social media
platforms and use them for different purposes.
Contd..
Need of social media analytics
Social media analytics helps companies address these
experiences and use them to: Spot trends related to offerings
and brands. Understand conversations — what is being said
and how it is being received. Derive customer sentiment
towards products and services.
SMA in Small and Large organizations
• Customer experience
• Product Development
• Branding
• Competitive Analysis
• Operational efficiency
The Social Network Perspective
The social network perspective refers to a tradition in social
science which focuses on the joint activities of, and continual
exchanges between, participants in a social system.
nodes, ties and influencers
Social network analysis (SNA) is the process of investigating
social structures through the use of networks and graph
theory. It characterizes networked structures in terms of nodes
(individual actors, people, or things within the network) and
the ties, edges, or links (relationships or interactions) that
connect them.
Contd..
Nodes are the individual actors within the networks, and ties
are the relationships between the actors. There can be many
kinds of ties between the nodes. In its simplest form, a social
network is a map of all of the relevant ties between the nodes
being studied.
Looking for data in all right places
We live in an era of marketing data overload. Every time we open an email, make a
purchase at a store or online, visit a website or use our devices, we are leaving trails of
data behind for marketers to collect and use to improve their targeting, customer
services and communication.
Certification programs that use data-driven marketing and sales strategies have seen
improvements in the way they market to their customers, with resulting gains in their
return on investment.
Improving Customer Engagement and Responsiveness
Organizations that routinely track and review their marketing data can use it to improve
customer responsiveness and gain greater customer insights. This allows the
organization to plan more efficiently and execute strategies that drive relationships
Looking for data in all right places
The user experience is something that marketing and customer services teams should
collaborate on. The majority of your audience will likely be directed to your website or a
landing page after seeing one of your ads, articles, social media posts or emails.
Thinking about the experience that customers have on these platforms needs to be part
of the marketing effort, too.
Your website or landing page should be laid out with the user in mind, and data-driven
marketing can help you do that. Data from the website can give you insight on which
parts of your web page your audience is clicking on the most. This kind of data can help
you better serve your customers and increase conversions and improve your user’s
experience
Looking for data in all right places
Creating More Efficient Strategies and Channel Use
The places where user data can have a significant impact on your strategies include
search engine optimization and marketing, email marketing and mobile marketing.
Equipped with some of the newer marketing platforms, organizations can deliver
consistent customer experiences across all channels while retaining the personalized
nature of their customer relationships.
One of the first things to tackle before developing a data-driven program is
developing “buyer personas” for their certification program. If it hasn’t already been
done, data can be used to create or refine the personas of your clients. The user data
can also help you better understand customer journeys, which allows you to better
target your user base and tailor your marketing efforts accordingly.
Data can also help you keep the budget on track with more focused and targeted
marketing and improved return on investment.
Looking for data in all right places
Begin Harnessing Data Now
Every certification marketer is looking for a way to improve their customer’s loyalty
and user experience. With so many options and channels, data is a marketer’s secret
weapon to finding new opportunities.
With our rapidly changing digital landscape, data-driven marketing allows your
organization to treat clients with a human touch while creating meaningful and
valuable relationships.
Harnessing and using data is an important part of your marketing program. Even if
you start small, the important step is to start. How are you integrating data into your
marketing program?
DATA
What is Data?
In general, data is a distinct piece of information that is gathered and translated for some
purpose. Data can be available in different forms, such as bits and bytes stored in
electronic memory, numbers or text on pieces of paper, or facts stored in a person's
mind.
What is Big Data?
Big Data is defined as the Data which are very large in size. Normally, we work on data
of size MB (WordDoc, Excel) or maximum GB(Movies, Codes), but data in Petabytes,
i.e., 10^15 byte size, is called Big Data. It is stated that almost 90% of today's data has
been generated in the past 3 years. Big data sources include Telecom Companies,
Weather stations, E-commerce sites, Share market, and many [Link] Data can be
structured, unstructured, and semi-structured that are being collected from different
sources.
Structured Data
Structured Data
The data which is to the point, factual, and highly organized is referred to as structured
data. It is quantitative in nature, i.e., it is related to quantities that means it contains
measurable numerical values like numbers, dates, and times.
It is easy to search and analyze structured data. Structured data exists in a predefined
format. Relational database consisting of tables with rows and columns is one of the best
examples of structured data. Structured data generally exist in tables like excel files and
Google Docs spreadsheets. The programming language SQL (structured query
language) is used for managing the structured data. SQL is developed by IBM in the
1970s and majorly used to handle relational databases and warehouses.
Structured data is highly organized and understandable for machine language.
Common applications of relational databases with structured data include sales
transactions, Airline reservation systems, inventory control, and others.
Unstructured Data
Unstructured Data
All the unstructured files, log files, audio files, and image files are included in the
unstructured data. Some organizations have much data available, but they did not know
how to derive data value since the data is raw.
Unstructured data is the data that lacks any predefined model or format. It requires a lot
of storage space, and it is hard to maintain security in it. It cannot be presented in a data
model or schema. That's why managing, analyzing, or searching for unstructured data is
hard. It resides in various different formats like text, images, audio and video files, etc. It
is qualitative in nature and sometimes stored in a non-relational database or NO-SQL.
Example
Module II
Link Analysis
• Link analysis tools can be used to identify relationships in the data.
• Link analysis is an analysis technique that focuses on relationships and connections in a dataset.
Link analysis gives you the ability to calculate centrality measures—namely degree, betweenness,
closeness, and eigenvector—and see the connections on a link chart or link map.
• Link analysis is a process of finding connections between different entities, such as connecting
customers to other customers or customer to products.
• Link analysis is used for 3 primary purposes: Find matches in data for known patterns of interest;
Find anomalies where known patterns are violated; Discover new patterns of interest (social
network analysis, data mining).
Random graphs and network evolution
Evolution of a random network is a dynamical process, usually
leading to emergence of giant component accompanied with
striking consequences on the network topology.
Social contexts: Affiliation and identity
How does social context influence identity?
Context influences social identity by providing many of the
culture traits that one incorporates into one's identity.
An individual's social identity indicates who they are in terms of
the groups to which they belong. Social identity groups are
usually defined by some physical, social, and mental
characteristics of individuals.
Stages
This process of favoring one's in-group happens in three
stages:
social categorization,
social identification, and
social comparison..
Click stream analysis
• clickstream data and clickstream analytics are the processes
involved in collecting, analyzing and reporting aggregate data
about which pages a website visitor visits -- and in what order.
• A form of Web analytics (see separate entry), clickstream analysis
is the tracking and analysis of visits to websites. Clickstream data
is usually collected using a tracker javascript tag.
Contd..
The events of the user are tracked using a tracker code and this
is sent to the collection server, where they are saved. Each
event can then be sent to a data warehouse where they can be
used for business or analytic purposes.
Clickstream data is usually collected using a tracker javascript
tag. The events of the user are tracked using a tracker code and
this is sent to the collection server, where they are saved.
A/B testing
A/B testing (also known as split testing or bucket testing) is a
method of comparing two versions of a webpage or app
against each other to determine which one performs better.
A/B testing example
• Grene redesigned its mini cart and saw a 2x increase in overall
purchase quantity.
• WorkZone increased its leads through its testimonials page by 34%
• Zalora's increased its checkout rate by 12.3% by optimizing its
product pages.
• Ubisoft used A/B testing to increase its lead generation by 12%