The Importance Of Social Media Analytics

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ABSTRACT: This paper explains the importance and budding popularity of social media analytics, which are the tools used for quantifying, exploring, analyzing and interpreting the results of interactions between consumers and products. Social media analytic tools can help different brands and corporate, apart from listening to and connecting with their community, study their behavior, geographical source and acceptability and tap the resources at the optimum. This is achievable because the social media is communicating through various social platforms and thereby allows companies to reach out to their audiences and interact directly. The paper further focuses on Key Performance Indicators (KPIs) such as customer sentiment, brand reputation and…show more content…
In a conventional marketing department scenario, analyzing market trends tends to be easy, as most of the data resides within marketing databases. But in contrary within a social media based unstructured data, it causes trivial noteworthy challenge for the conventional analytics tools to judge and evaluate the business trends.
Google analytics, HootSuite, Simplify, uberVU, Sprout Social and other such tools can help process information and can endow with tremendous analytics competence that can assist in finding out how social media can help concern and gain revenue by becoming more conscious about consumers or patrons reaction to promotions and products. The Nielsen survey shows that 90% of consumers worldwide trust recommendations from people they know, while 70% trust consumer opinions posted
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It constitutes only a small part of what is being assumed about the company and business organization as a whole. So the results out of the social analytics tool may not be fully accurate. More over the fact that social media analytics offers a limited perception of comments, tweets or retweets in social forums as all data is being produced there is not easily available for analysis and reasoning. Most of the organizations do not have access to the real-time stream of Tweets that flow from Twitter each day but only have access to public data available over the social networking

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