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Business strength is reliant on responding to the customers’ needs and wants faster than the competitors. It ensures that the customers come back to the business, building trust and loyalty. The businesses today have turned to social media to maintain a meaningful and proactive relationship with their customers by analyzing and understanding the customers’ voice. This concept of turning social media data into actionable marketing and business strategy is called Social Intelligence.
Social intelligence aims to understand who the customer is, what he or she wants and how he or she feels about the various business decisions that affect the products and services. By analyzing this data, the business can build effective business strategy to attract potential customers and build brand affinity. This is done by matching the qualitative aspects of social media interactions with the quantitative metrics of your products and services.
The concept that a business strategy is often a mixture of complex and structured data that doesn’t fit nicely into tables has led to the emergence of intelligence platforms that support analytics beyond numbers – analytics which involve rich media. The emergence of big data platforms like Hadoop, Amazon Web Services, Teradata, etc together with business intelligence solutions like Tableau and Power BI has enabled both unstructured and structured data to be stored, queried and analyzed efficiently and effectively to get actionable and relevant insights, which help in formulating a more informed business strategy. By analyzing social media trends and other online sources, it is possible to look into the future and tailor-make strategies that will work. This post, “Who’s making the most noise?”, analyzes data collected from online sources on the debate over Brexit shows that the focus was more on leaving EU. This was made possible by analyzing the sentiments expressed in the debates and using Tableau to extract unique insights from it.
With the data from social intelligence, a business can align everyone in the organization to collectively work towards common goals and objectives. This translates directly into the activities and strategies of the business making it a success in the real world. Investments in solutions like Tableau and Power BI are the right steps towards achieving this. A timely and relevant insight into your data may be the difference between your business and the competitor’s.