This document discusses using social media and information markets to aid decision making in organizations. It notes that social media can provide free customer sentiment data that can be analyzed against metrics like market share and sales. It also warns that social media allows competitors and suppliers access to customer information and insights, and that it may be better suited to small, local businesses than large enterprises. Finally, it suggests that organizations can use internal "collaboration markets" and social media to coordinate resources and transform business processes in a more market-based approach.

1. Information Markets
Putting Social Media to use in Decision Making

2. Impact on *
Organisation
* no just organisations

3. An approximation of
your market
• Customer communication about your products
• Sentiment analysis provides trackable metric
which can be analysed against market share,
campaigns, sales projections - and the data is
free
• Social media is a customer service channel
• Social media is a campaign channel
• Information governance, volume, aggregation,
and latency equations different to other data

4. A response to social media
strategies of suppliers
• Reduces communication costs increase the need
for polices with suppliers
• Opportunity to integrate social media strategies
across supply chain
• What opportunities / threats are created when
customer's can access information about the
individual components of your products?

5. A competitive threat
• Social media consumes the attention of your customers
• Competitors and intermediaries who access social media effectively
can develop insights into "your" customers
• Social media may be more effective in marketing small, niche, local,
or cottage businesses than large enterprises

6. • Social media used within an organisation creates a market
• Market-based management approaches move organisations, or whole
supply chains from command economies to market-based economies
• Technology-Enabled Business Transformation Programmes create
"collaboration markets" that coordinate resources within and around firms
• See ManageWithoutThem.com
A different way of managing
coordination within a firm

7. *
One context
Micro- Customers as Marketers &
Suppliers Customers as Competitors
Cross-Organisation Collaboration Product Development
Collaboration Market & Collaborative Risk Management
* leading to one approach to market & information management

8. Suggested Initiatives
• Social media strategy
• Supply chain social media strategy review
• Collaborative business process POC
• Social media as Data Warehouse data source