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Rethinking the intelligence cycle using social media
The document discusses the importance of integrating social media into the intelligence cycle at EY, emphasizing how social media platforms can enhance the collection, processing, and analysis of information. It outlines strategies for leveraging social media to gather competitive intelligence and improve decision-making processes within the organization. Additionally, it highlights the need for new analytical methods and verification techniques to assess the credibility of social media information.
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Rethinking the intelligence cycle using social media
- 1. Rethinking the intelligence cycleusing social media August Jackson 12 June 2014
- 2. Page 2 The contextfor knowledge: our organization EY is an organization of member firms operating in 150 countries. ► We collaborate globally to offer audit, tax, transaction and advisory services. ► Each service line has a wide, diverse range of business units and offerings. ► Our organization is constantly growing and evolving. We compete in a market where insights are the product: knowledge is and will be a key differentiator. Rethinking the intelligence cycle using social media
- 3. Page 3 The contextfor knowledge: our people Our 175,000 people are our greatest asset. ► Their collective intelligence drives a client experience that is connected, responsive and insightful. ► They could be working from any site in any location. ► We have a large population of millennials accustomed to being self-sufficient through the internet and connected by social networks. We must be able to connect people to each other and to the best of EY’s knowledge anytime, anywhere. Rethinking the intelligence cycle using social media
- 4. Page 4 Social mediaimpacts every stage of the intelligence cycle Plan Collect ProcessAnalyze Comm- unicate Rethinking the intelligence cycle using social media
- 5. Page 5 Information ismoving from proprietary sources to social platforms Plan Collect ProcessAnalyze Comm- unicate ►Align decision support and Key Intelligence Topics (KITs) with social media intelligence ►Understand how social media compliments your other intelligence activities ►Choose your social media platform(s) based on your requirements and market Rethinking the intelligence cycle using social media
- 6. Page 6 Examine yourdecision support needs and KITs for their social media potential Rethinking the intelligence cycle using social media Who are your stakeholders? What business decisions do they need to make? What knowledge do they need? What intelligence can we provide? How will we develop that intelligence? What analysis will we perform? What information do we need? Who holds that information? Are they likely to share that information via social media? Where? How will you collect it? How will you process and analyze it?
- 7. Page 7 Social platformshave distinct value propositions for competitive intelligence Rethinking the intelligence cycle using social media Facebook ► Official marketing presence for competitors ► Business-to-consumer organizations are more likely to actively use Facebook as a marketing platform ► Useful to track competitor recruiting activities, particularly those focused on university graduates and young professionals LinkedIn ► The professional social network ideal for recruiting, job hunting and networking ► Individual and company profiles ► Discussions in industry-specific groups ► Useful for developing profiles of prospective primary sources Twitter ► Official marketing presence by companies and brands ► Use in marketing, PR, customer support and recruiting ► Often favored by academics, pundits and journalists ► Commentary from individual employees and customer ► Useful for broad collection and building an expert network
- 8. Page 8 Collection becomesabout farming, not hunting and gathering ►Allows us to cast a wide net ►Elements of primary and secondary collection ►Near real-time stream Plan Collect ProcessAnalyze Comm- unicate Rethinking the intelligence cycle using social media
- 9. Page 9 Experiment withfree and inexpensive social media monitoring methods and tools Price High Low Monitoring and listening Limited Robust Source: Oram, Nicholas. “Social Media/Web Collection Tools.” Mercyhurst University. Rethinking the intelligence cycle using social media Twitonomy Tweet Archivist Quintly Cyfe Digimind Sysomos Radian 6 Engagor Simply Measured
- 10. Page 10 Look beyondtraditional authority to build a network of curators who scan and interpret Rethinking the intelligence cycle using social media Think about your engage- ment plan 1. Plan to spend 3-6 months building a social media presence and engaging with your targets. 2. Understand who your targets are, and how can you reach them directly and indirectly. 3. Budget your time accordingly: 30-60 minutes a day while you get up to speed. Create your own professional profile 1. Choose a unique handle; make it as short as you can. 2. Have a professional photo or appropriate tasteful image. 3. Write a short but clear description of your area of expertise. 4. Include a link to a blog or LinkedIn profile. 5. Clarify your corporate affiliation and that opinions are your own. Find experts on Twitter 1. Use a search engine to search for known experts on Twitter. 2. Look for other relevant lists that other Twitter users have added your targets to. 3. See who else is on these lists. Build rapport with your experts 1. Start by retweeting content you find noteworthy to your followers. 2. Comment on tweets from others with public @ messages. Be supportive. 3. Direct items you know will be of interest to specific people. As people see your value they will follow and message you, too.
- 11. Page 11 You willneed to apply new criteria to process information from social media Plan Collect ProcessAnalyze Comm- unicate ►Expanding beyond traditional authorities requires new verification and validation. ►You will need to focus on the specific social media data that will inform your analysis. Rethinking the intelligence cycle using social media
- 12. Page 12 Journalists andhumanitarian groups developed methods to assess social media validity ► It’s better to emphasize validity over speed. ► Seek multiple independent signals to improve credibility of the information from social media and other sources. ► The credibility of information you find is intimately tied to the reliability of the source. Rethinking the intelligence cycle using social media Andrew Carvin, formerly of NPR, used Twitter to crowd source real-time coverage of the Iranian Green Revolution and the early days of the Arab Spring. Photo by Denis Bocquet
- 13. Page 13 Credibility ofinformation is intimately tied to the reliability of the source ► Can you verify the identity of the source? ► Do they have a complete and professional-looking social media profile? ► Are they present with a consistent presence across social media platforms? ► What is their history or longevity on a given social media platform? ► Whom do they follow, message and retweet and who follows messages and retweets them? ► Do they maintain authoritative lists and do they appear on authoritative lists with other known experts? Rethinking the intelligence cycle using social media
- 14. Page 14 Effective socialmedia intelligence requires considering a range of information Rethinking the intelligence cycle using social media ► Quantitative metrics ► Content ► Sentiment ► Volume ► Aggregate data
- 15. Page 15 Social requiresnew analytical techniques, bringing new information to existing methods ►Volumes of social content requires semantic analytical capabilities. ►Social platforms drive new types of content to existing analytical methods. Plan Collect ProcessAnalyze Comm- unicate Rethinking the intelligence cycle using social media
- 16. Page 16 Social movesus from snapshot analytical methods to analysis of information streams Rethinking the intelligence cycle using social media Objective Traditional tool kit Social intelligence tool kit Industry dynamics ► Porter’s five forces ► Value chain analysis ► Interaction among industry players ► Response to market changes Competitive landscape ► War games ► Benchmarking ► SWOT ► Track product and service uptake Future trends ► STEEP/PESTLE ► Scenario planning ► Competitor trend exposure ► Weak signal analysis ► Crowd sourcing Customer insights ► Win loss ► Focus group ► Sentiment and buzz analysis ► Influencer intelligence Based on Harrysson, Martin; Metayer, Estelle and Sarrazin, Hugo. “How social intelligence can guide decisions.” McKinsey Quarterly, November 2012. Accessed 2 June 2014.
- 17. Page 17 Social mediainside the enterprise changes how we communicate ►Enterprise social enables two-way discussions, in close to real-time, across flattened hierarchies. ►The platforms make it easier to target specific insight. ►As such, internal social platforms can displace legacy intelligence portals while external platforms enable private curated news briefs. Plan Collect ProcessAnalyze Comm- unicate Rethinking the intelligence cycle using social media
- 18. Page 18 Social mediaenables competitive intelligence at EY Rethinking the intelligence cycle using social media
- 19. Questions? August Jackson ►+1 703747 0934 ►august.jackson@ey.com ►@8of12
- 20. EY | Assurance| Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US. © 2014 Ernst & Young LLP All Rights Reserved. ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. The views expressed by presenter are not necessarily those of Ernst & Young LLP. ey.com/knowledge
Editor's Notes
- #10 This 2x2 matrix is the product of Nicholas Oram of Mercyhurst University. He assessed several commercial social media monitoring tools and evaluated them for their monitoring and listing functionality and price. My recommended approach to selecting a social media monitoring platform is to start with free or inexpensive platforms to become familiar with social media content, platforms, etc. Organizations “graduate” to higher platforms, and should be wise to choose a platform that does more than they really need. There are multiple platforms listed here with which CI professionals may want to experiment. The tools with which I have direct experience are Radian6, Sysomos and Digimind. The Digimind is a product is targeted towards CI professionals, and is my platform of choice. A free trial is available, and the platform is simple and easy to use. Radian6 and Sysomos are both very powerful, and geared primary towards marketing and public relations professionals. They are expensive and have considerable learning curves. They may be necessary for enterprises that have extensive social media monitoring and reporting capabilities. noram13@lakers.mercyhurst.edu https://www.linkedin.com/pub/nicholas-oram/65/1b/b2a
- #11 There are some clues to consider when evaluating the expertise of individual Twitter profiles: Based on their descriptions in their profiles and tweets do they appear relevant? Are they followed by more people than they follow? Who is following them? How long have they been on Twitter? What is the mix of original tweets, retweets and messages in their tweet stream?
- #13 Much of the information on this slide is derived from sources: Meir, Patrick. Seeking the Trustworthy Tweet: Can “Tweetsourcing” Ever Fit the Needs of Humanitarian Organizations? http://irevolution.net/2011/06/05/tweetsourcing/. Accessed 1 June 2014. Meir, Patrick. How to Verify Social Media Content: Some Tips and Tricks on Information Forensics. http://irevolution.net/2011/06/21/information-forensics/. Accessed 1 June 2014. Photo of Cairo, Graffiti, Tahrir Square, November 2011 by Denis Bocquet. Shared with a Creative Commons Attribution license: https://creativecommons.org/licenses/by/2.0/ URL for original picture: https://www.flickr.com/photos/66944824@N05/6346562119/in/photolist-aEPMNP-aFZebF-9d2Ub8-aiFnUe-dH8isn-aEPNDB-aEPP34-aEPVX4-aEPP8R-arM9WT-aVSKCM-9sRY9Q-aFZbSP-aETCiJ-aJpjLx-aJpjzV-aFYgiV-aFZdm6-aFZ7Xr-bgQt8e-aBqydW-aBnR1R-aBqk1U-aFcLMa-bKb8VK-aFZ9yv-aFY8Sp-aFgzBu-ae7PBk-aJpnk4-aFcM8M-aFZ7Cv-aFZbye-aFZaYv-aFZarp-aFZ8Dc-aFZ7qg-aFZ7ar-aFZ6TZ-aFcLbX-aEPVon-aETLbu-aEPSG2-aFZ8Xg-aEPMXg-aWY962-aFZ9fX-aJpjsv-aFZ4gn-bz9Dpc/
- #14 Much of the information on this slide is derived from sources: Meir, Patrick. Seeking the Trustworthy Tweet: Can “Tweetsourcing” Ever Fit the Needs of Humanitarian Organizations? http://irevolution.net/2011/06/05/tweetsourcing/. Accessed 1 June 2014. Meir, Patrick. How to Verify Social Media Content: Some Tips and Tricks on Information Forensics. http://irevolution.net/2011/06/21/information-forensics/. Accessed 1 June 2014.
- #15 Search results for social media generated by Sysomos MAP search for instances of “social media” on Twitter between 2 March and 1 June. Accessed 1 June 2014.
- #19 This is a screen shot from EY’s Competitive Intelligence Yammer group. No proprietary or sensitive information is contained in this graphic.