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Social media data analytics

This document discusses social media data analytics. It defines social media data as information collected from social networks like Facebook, Twitter, and Instagram that shows how users engage with content and profiles. This data provides insights into metrics like likes, mentions, clicks, hashtags, and new followers. Businesses analyze this social media data to understand what is and isn't working with their social media strategy. They gather data continuously to inform social media analytics and improve their digital marketing. The document also discusses how academics and companies like IBM utilize social media data for research, commercial gains, and providing social media insights and services.

Social Media◦
SOCIAL MEDIA DATA ANALYTICS A foundation for advanced, effective digital marketing.
What is social media data? • Social media data collects information from social networks sites like Twitter, Facebook, Instagram which show how users share, view or engage with their content or profiles. • For instance, Twitter or Instagram collects data such as no of likes, mentions, impressions, what hashtags are most used, what all URL get most clicks, keyword analysis, new followers, comments, etc. • All these numbers, percentages and statistics provide actionable insights concerning their social media strategy.
About social media data
How brands use and analyse social media data? • Once social media data is collected, the social networking sites use it to see what is and isn’t working. • Brands are gathering data around the clock. • Every time someone likes a post on social media engaging some brand, that’s a data point for the companies. • Social media data is the raw source that companies get when they analyze the users of social networks. • This data collected, then is used for social media analytics to make sense of all that raw information.
Why various businesses use social media data? • Various businesses take advantage of social media information for their own advantage. For instance, they use it for their own in-house needs, and sometimes offer their analyses as a service. • One such business using social media data is IBM, a business that has taken to social media metrics very rapidly. The company has blogs and tools used to leverage social media. IBM offers ‘social merchandising’ for retail and consumer products using Twitter data, but is working to provide market insights for these areas, as well as for media and entertainment.
Academic approach to Social media data analytics • Academia uses social media data to promote and share findings and research, similarly to how any other organization might promote itself publicly. • Also, for academia, social media has become essential for research. It would focus more on the inherent knowledge gained from the data, rather than commercial gains. • The time and work put into academic research projects are not free. Time is essentially money, and it also costs money to pay talented workers to help design and implement a big data project. • One source of this money comes through grants, and many social media platforms offer grants to keep academics involved. • For example, Twitter has offered grants before, especially because of the significant insights the research offers, like where influenza is likely to strike.
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