The document discusses transforming big social data into smart social data through a 5-step process: 1) define the business objective, 2) identify relevant data sources, 3) clean and preprocess the data, 4) analyze the data with the objective in mind, and 5) validate the results. It provides examples of applying these steps, such as detecting sentiment around a new product launch or identifying complaints on social media. The overall process aims to extract meaningful insights from large amounts of social data by focusing on quality over quantity.