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Adding the might of social media to your analytics engine Presented by Priya Venkataraman, Senior Director Consulting and Analytics
 

Adding the might of social media to your analytics engine Presented by Priya Venkataraman, Senior Director Consulting and Analytics

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Analytics infrastructure across organizations in diverse industry verticals are often designed to deliver insights based on quantitative data. However, data aggregation and consolidation for analysis ...

Analytics infrastructure across organizations in diverse industry verticals are often designed to deliver insights based on quantitative data. However, data aggregation and consolidation for analysis is largely internal and includes a combination of data sources at the enterprise level. While such analysis and insights lead to smart decisions, decision-makers are however deprived of unsolicited, qualitative insights that exist in the external universe of social networking and interactions amongst related stakeholders.

As Social Media witnesses tremendous adoption levels, it is becoming a powerful source of customer opinions and influence.

The webinar will focus on the following:

Social Media as a source of insights for decision-making
How can Social Media add more meaning to your traditional analytics and insights?
Case examples from diverse industries

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    Adding the might of social media to your analytics engine Presented by Priya Venkataraman, Senior Director Consulting and Analytics Adding the might of social media to your analytics engine Presented by Priya Venkataraman, Senior Director Consulting and Analytics Presentation Transcript

    • a company www.empowerresearch.com Adding the might of social media to your analytics engine Priya Venkataraman Senior Director Consulting and Analytics vpriya@empowerresearch.com 1EmPower Research LLC, a Genpact company Listen. Learn. EmPower Listen. Learn. EmPower 1 All Rights Reserved.
    • 2005 130 We are drowning in Vo l um e o f G l o b a l D a t a i n E xa b y t e s a sea of data 2720 2012 2015 7910 2EmPower Research LLC, a Genpact company Listen. Learn. EmPower 2 All Rights Reserved.
    • But it’s not just the volume of data we are dealing with... 1 2 3 4 Volume of Velocity of Variety of Value data data data from data Decision-makers are seeking value from the myriad of data that enterprise systems are capturing 3EmPower Research LLC, a Genpact company Listen. Learn. EmPower 3 3 All Rights Reserved.
    • The advent of social media: volumes, velocity and variety leading to greater value for businesses 66% 14% 21% 31% Of those online now use 14% either publish a blog/ web 21% post ratings or 31% post updates on social media page or upload videos comments in forums social sites HOW MANY INTERNET USERS TURN TO SOCIAL REGULARLY TURN TO SOCIAL MEDIA MEDIA WHEN MAKING PURCHASES SOMETIMES TURN TO SOCIAL MEDIA Travel Financial Eating Clothes or Mobile Groceries or Personal Services Services Out Fashion Phones Food Care 4% & 24% 4% & 10% 3% & 21% 4% & 23% 2% & 21% 2% & 15% 3% & 15% $$ Sources: www.sanfranciscosentinel.com, wwwblogs.forrester.com, Knowledge Networks 4EmPower Research LLC, a Genpact company Listen. Learn. EmPower 4 4 All Rights Reserved.
    • Various functions in an organization can leverage social media data stream for improved analytics and better insights Public Relations MarketMarket Research Engage Listen Learn Brand Teams Regulatory Bodies R&D 5EmPower Research LLC, a Genpact company Listen. Learn. EmPower 5 All Rights Reserved.
    • Organizations are waking up to the velocity, variety and value of insights possible from this data stream: example 1 According to a study conducted by scientists from Indiana University and the University of Manchester, social media has an 86.7% accuracy rate at predicting the stock market Sentiment of companies $$ on Twitter closely follows market Twitter Lead movements. Also shows Trends Indicator positive correlation between trading volume and message volume on Twitter Sprenger and Welpe (2010) 6EmPower Research LLC, a Genpact company Listen. Learn. EmPower 6 6 All Rights Reserved.
    • Organizations are waking up to the velocity, variety and value of insights possible from this data stream: example 2 A leading data Sales alerts Service products company alerts (B2B) uses social media for Identifying opportunities of sales, engagement and service improvements Engagement alerts Impact 30 alerts every month leading to Determine annual sales  Pain areas related to customer services ENABLE ACTION pipeline of over  The most important product attributes for $12 million exceeding end user expectations Develop  Strategies that address enduring customer service needs and expectations 7EmPower Research LLC, a Genpact company Listen. Learn. EmPower 7 7 All Rights Reserved.
    • Organizations are waking up to the velocity, variety and value of insights possible from this data stream: example 3 A global leader in Increase in Awareness Sentiment confectionary products wanted to identify the impact of negativity / Negative Sentiment sentiments on overall brand loyalty Week 1 Week 2 Week 3 Week 4 Impact Predictive models to First timers Loyalist measure impact of negativity on loyalists Switchers 8EmPower Research LLC, a Genpact company Listen. Learn. EmPower 8 8 All Rights Reserved.
    • Combining social media with existing data and analytics can provide insights in near real-time for improved decisions Internal Data External Data E-mails Surveys Call Records Social Media INSIGHTS • Leverage the knowledge held, Data created, shared by stakeholders Analysis • Foster insights and innovation for competitive advantage by analyzing existing data Data Human • Identification and Analysis of Modeling Analytics data parameters which impact the industry Data Transformation • Normalizing parameters across Reports, Regions and Convert Unstructured Information To Structured Categories Data 9EmPower Research LLC, a Genpact company Listen. Learn. EmPower 9 9 All Rights Reserved.
    • Social media can be applied to a variety of business problems, enabling better analytics and better decisions Sales Alerts Brand Tracking Event or Sales Trends Campaign Measurement Corporate Competitive Reputation Customer Service Intelligence Analysis Alerts Category Level Influencer Insights Identification Opportunity Landscape Customer Emerging Trend Analysis Segmentation Identification C-SAT and Loyalty Purchase Intent Tracking Measurement 10EmPower Research LLC, a Genpact company Listen. Learn. EmPower 10 All Rights Reserved.
    • Case study 1 11EmPower Research LLC, a Genpact company Listen. Learn. EmPower 11 11 All Rights Reserved.
    • About the client and their business problem Our Client A global leader in credit cards Business The client wanted to understand a holistic net promoter score across Problem countries which included disparate new and existing data sources 12EmPower Research LLC, a Genpact company Listen. Learn. EmPower 12 12 All Rights Reserved.
    • Our approach to integrating social media insights with existing data sources and analytics frameworks Data source Systems Output measures Outcome Social Media NPS Unstructured System 1 Indicative drivers Responsiveness System 2 Performance Empathy Emails measures (Top Reliability box excellence) System 3 Respect Call Records Satisfaction Security System 4 measures (CSI) Structured Surveys EmPower Media Competitor Competitor Interactive Dashboard Insights Feedback Co-relate sentiment, advocacy, loyalty and influence in real-time to directional NPS 13EmPower Research LLC, a Genpact company Listen. Learn. EmPower 13 13 All Rights Reserved.
    • Business Outcomes Product attributes that Client Competitor impact customer experience were brought into focus, reorienting 33% Unhappy about resources from non-Service verification 59% charges performing ones Competitive benchmark of 26% Safe transactions 1 product attributesSecurity won customer 58% confidence Identification of customer 2 satisfaction drivers in real-time premium cards 30%Respect provided were 48% admired Sentiments (%) 14EmPower Research LLC, a Genpact company Listen. Learn. EmPower 14 14 All Rights Reserved.
    • Case study 2 15EmPower Research LLC, a Genpact company Listen. Learn. EmPower 15 15 All Rights Reserved.
    • About the client and their business problem Our Client A leading venture capital firm Business While comprehensive CRM solutions existed on profiling target Problem portfolios and prospect companies, the existing solutions lacked ability to integrate real-time data on sentiments, trends, perceptions etc. 16EmPower Research LLC, a Genpact company Listen. Learn. EmPower 16 16 All Rights Reserved.
    • Our approach to integrate real-time insights into CRM Data Pull from the Sites into Salesforce done real-time; optimized to filter noise; and produce customized profiles for client Salesforce Connector Content Mining Filtering Semantic Analysis Company NLP Profiling Machine Learning Client Salesforce Influential sources 1 SMMART 2 Crawling 3 Seamless Building Learning Engine Integration blocks of white-list sources, comprehensive A 2 way seamless our solution keyword hierarchy crawling from a wide integration and service bureau variety of sources interface SMMART: Social Media Multi-Attribute Rating Tool 17EmPower Research LLC, a Genpact company Listen. Learn. EmPower 17 17 All Rights Reserved.
    • Business Outcomes A system that enables investment professionals Sectoral Viral news Executive hire / with comprehensive social trends fire updates media insights on their Performance target companies updates Perception of between results management Near-term value Velocity of actionable insights being integrated in their CRM in Customer near- real time mode Sentiment trending satisfaction Long-term value Scalability across different media Stakeholder New product or types, languages, user groups, perception on innovation target companies performance 18EmPower Research LLC, a Genpact company Listen. Learn. EmPower 18 18 All Rights Reserved.
    • Case study 3 19EmPower Research LLC, a Genpact company Listen. Learn. EmPower 19 19 All Rights Reserved.
    • About the client and their business problem Our Client World leader in pharmaceutical products Business Existing databases captured point of sales and promotional data but Problem there was not qualitative input which explained sales fluctuations or business impact of competitor initiatives 20EmPower Research LLC, a Genpact company Listen. Learn. EmPower 20 20 All Rights Reserved.
    • Our approach S t a r t i ng Hyp o t h e s i s Marketing efforts, product features and competitor actions drive sales IMS Data Social Media IMS Data (Lag) Data (Lead) Sentiment Medical Data Awareness Sales Share of Voice Promo Data Perception Sentiment 21EmPower Research LLC, a Genpact company Listen. Learn. EmPower 21 21 All Rights Reserved.
    • Business Outcomes Negative discussions seen on Competitor_X side effects  Social media integrated influenced sales in a poitive way with IMS data to explore Patients felt better and SALES correlations between drug well after using KPIs and drug’s sales Competitor_Y performance  SALES Ability to predict and positively 1 influence sales pipelines Real time insights on strategy 2 Mon 1 Mon 2 Mon 3 Mon 4 Mon 5 Mon 6 Mon 7 and tactics Competitor_X Negative Competitor_Y Conversations o Competitor_X’s negative tonality increased sales o Competitor_Y’s conversations affected sales performance in a negative way 22EmPower Research LLC, a Genpact company Listen. Learn. EmPower 22 22 All Rights Reserved.
    • In conclusion… Social media has become a key source of unsolicited opinions of stakeholder which cannot be ignored Integrating social media with your existing systems can help you understand the ‘why’ of existing business challenges Social media can add more horsepower to your existing analytics engine with near real time insights 23EmPower Research LLC, a Genpact company Listen. Learn. EmPower 23 23 All Rights Reserved.
    • www.empowerresearch.com www.genpact.com a company Retail/CPG Advertising Communications/ High Tech/ Pharmaceuticals Financial Public Relations Telecom Health Care Services Corporate Headquarters EmPower Research LLC 404 East 79th Street Suite 16E New York, NY 10075 Tel : +1 646 435 0030 Fax : +1 646 472 5806 Global Research Center Disclaimer: The data presented in this presentation is collected from publically available resources. EmPower Research doesn’t EmPower Research Knowledge Services Pvt. Ltd. take any responsibility on the authenticity of the data disclosed Ozone Manay Tech Park in this presentation and outcomes of decisions taken based on 3rd floor, Block B such data by the recipient of this presentation. Kudlu Gate, Hosur Road Bangalore 560 068 Tel : +91 80 4020 5300 24 Fax : +91 80 4169 8306EmPower Research LLC, a Genpact company Listen. Learn. EmPower Listen. Learn. EmPower Reserved. All Rights 24