Text Analytics Summit - Text Analytics – The Foundation for Social Business Collaboration Presented by Don Springer
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The document discusses how text analytics can be used to enable social business collaboration. It describes how social media conversations can be analyzed using natural language processing to derive insights about customer preferences, intentions and demographics. These social intelligence insights can then be integrated with traditional customer data and used to optimize marketing campaigns, outreach and product strategies by engaging the right audience with the right message on the right platform. The process involves identifying insights from social data, combining it with traditional customer data in real-time dashboards, and engaging customers through targeted multi-channel outreach efforts based on the combined social and traditional business intelligence.
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Text Analytics Summit - Text Analytics – The Foundation for Social Business Collaboration Presented by Don Springer
- 1. REAL TIME SOCIAL ANALTYICS Collective Intellect Text Analytics – The Foundation for Social Business Collaboration Don Springer, CEO Spring 2011 Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 2. What is Social Business Collaboration Proprietary and confidential. Not to be used or distributed without the consent of Collective Intellect, Inc. Getting the right message to the right audience at the right time on the right platform Finally I can upgrade my phone. Question is shall I get the iPhone now or wait for the new one or will it be pricey when it comes out Should I switch from Comcast to Fios – based on Verizon Customer Service??? I hate Verizon and after switching now love Comcast and their high-speed Internet and On-Demand selection! Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 3. What is Social Business Collaboration It’s integrating and sharing social business intelligence across the organization to support the customer throughout the value cycle Broadcaster Empowered Influence Supported Purchase Awareness Consideration Preference Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 4. Creating a Social Business It’s about understanding the social media maturity curve through the lens of your organization’s functions and how it enriches a customer’s experience Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 5. Proprietary and confidential. Not to be used or distributed without the consent of Collective Intellect, Inc. Creating a Social Business And implementing a framework and process for measuring & correlating social ROI with traditional metrics True social business engagements can only be effectively achieved if the foundation of enterprise social listening, correlation with existing data and mapping of social profiles to internal records can be enabled
- 7. More than monitoring – beyond likes and retweets
- 10. Social network vs. platform-specific – network or community specific social research
- 11. Blend social and traditional market research – validate social findings or advance your understanding of emerging trendsProprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 12. Proprietary and confidential. Not to be used or distributed without the consent of Collective Intellect, Inc. Text Analytics Needs to be Broad and Deep To identify social insights and provide repeatable, real-time metrics tracking.
- 16. Slow on large, unstructured text
- 18. High Performance for Speed and Precision
- 20. Used for Highly Accurate Categorization
- 21. Spam identificationProprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 22. The Listening Platform’s first job is to discover insights It should enable open-ended, organic, automated white-space analysis Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 23. Use Social Data to Inform Business Intelligence What is social intelligence? Sophisticated text mining technology can derive rich insights into consumer preferences, demographics and intentions from just 140 characters. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 24. Use Social Data to Inform Business Intelligence What is social intelligence? Technology should disambiguate the difference between “Panic” the group and “panic” the state. It should also build up a history on attitudes by social profile for more effective communication strategy input. In-market intent for music concert TV viewing habits Responses to specific content Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 29. 50 million unique authors
- 30. 2 million fan pages/user groups
- 32. Private Community Conversations (External & Internal)
- 33. 15 million unique blogs
- 40. 60 million unique authors
- 47. Private news, research, feeds
- 48. 600 thousand unique consumers
- 50. 25 unique review sitesProprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 52. Apply superior trait extraction to surface author considerations, preferences and intentions, including demographics
- 53. Include a strategy of mapping traditional data to publically available social profilesThen, move to Step 2, by integrating social intelligence into existing data management or business intelligence systems to inform course correction to change outcomes and ultimately influence ROI
- 55. Correlate social & traditional data for a 360 degree view of your customers, your campaign initiatives and outreach efforts
- 56. Fine-tune your analysis for early detection of negative sentiment or reactions to new products or campaignsProprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 57. Combine - Create Always On, Real-time KPI Dashboards Creating a social business Select KPIs to track in real-time to inform course correction and impact across: campaigns, outreach schedules and emerging issues. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 58. The Socially-Appended Customer CRM Database Connecting Offline Online Customer Data Client or CRM Data Analytics Partner Cookie History Web Analytics Transaction History Traditional Inputs Social Inputs Action Outputs Social Influence Customer Activity Customer Preferences Intentions Customer Identities & Contacts Targeted Engagement Customer Preferred Social, Traditional Interests Sentiment Demo/Psychographic Data Passion Consumer Analytics Qualitative/Quant. Research - Scorecards Categorization/Segmentation Data Themes Behavioral Data Terms Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 60. xxxx,xx
- 61. xxxxx@gmail.com
- 62. Married, xx
- 63. Income 35 K / Yr
- 64. Twitter ID: @im_just_miEstablish links from traditional data records with online social identities. On diet and uses Lean Cuisine Consumes Music Digitally Just Had Life Event Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 65. Engage – Optimize Outreach Connect the right audience with right message on the right platform Finally I can upgrade my phone. Question is shall I get the iPhone now or wait for the new one or will it be pricey when it comes out Should I switch from Comcast to Fios – based on Verizon Customer Service??? I hate Verizon and after switching now love Comcast and their high-speed Internet and On-Demand selection! Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 67. Consumer language – voice of customer – is helping to drive campaign, product or outreach considerations
- 68. Blend real-time with long-term outlook. Real-time analysis of social conversations is used to inform long-term strategies and outlooks
- 69. An important but not the only channel. Social is considered an important channel as part of a multi-channel measurable engagement strategyProprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 70. Engage – Optimize Outreach Connect the right audience with right message on the right platform Create targeted outreach efforts based on socially-optimized business intelligence. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 71. Connect your audience to your advertiser Connect the right audience with right message on the right platform Create target-specific, multi-channel efforts for the right audience. Actionable Insight Show Movie preference/ advertising opportunity Skins We can find connections between viewing and interests over a period of time. Jersey Shore E-commerce opportunity Vampire Diaries In-market lead/ advertising opportunity Teen Mom 2 Lifestyle & Interests Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc. Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
- 72. REAL TIME SOCIAL ANALTYICS Collective Intellect Thanks for your time. Drop us a line @collectual, http://collectiveintellect.com or on Facebook Spring 2011 Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
Editor's Notes
- Social Business Collaboration is the outcome of successfully integrating sophisticated social media analytics with traditional data to optimize business processes or Social CRM the result of actively listening to social media conversations to surface true voice of customers, consumer intentions and preferences, including sentiment and demographic informationAcknowledging that social media conversations represent an enormous volume of unstructured data, which is growing exponentially
- The sales funnel may no longer meet the needs of the social customer (Leads, Opportunities, Proposal/ Quotes, New Customers)What about the traits and characteristics of an individual that actually may influence each of phases of the relationshipHow are do you identify and nurture your consumers if stages of the relationship extend years beyond the initial purchase but their (the consumer’s) influence and social network contribute to new sales growth?How do you collect and organize consumer feedback on products or user-generated best practices or recommendations on product usage or upgrades. How do you identify strong and weak ties and then award varying levels of contribution, loyalty and referralSocial media analytics and text mining is the underlying foundation of Social CRM
- PR, Customer Service, legal, engineering, every part of the organization has an important role to playNo longer the purview of marketing & PRSuccessful organization have a strategy to both fold in social media data but also correlate it with other more traditional metrics, like transactional, behavioral or referralImplementing business processes to support different engagement points along the maturity provides guiding principles to the entire organization Should also implement a robust feedback and tracking system, so that critical social data is shared and course correction approaches are monitoredAs an organization moves along the social maturity curve the larger the impact on the organization and the more involved consumers are in the business
- Step 1 Inform strategy. Use the social insights surfaced from consumer and prospects intentions, considerations and intent to create more targeted outreach efforts.Step 2: Combine social and traditional data in an always on, real-time dashboard of KPIs that both integrates social analytics into traditional data, like transactional and customer service details, and correlates the information for a 360 view of your consumer, your campaign initiatives and outreach efforts.Step 3: Engage with context. Deliver the right message to the right audience on the right platform using a social strategy built on the insights identified in Step 1 and which were combined and correlated with traditional data and existing consumer details in Step 2. Promote either multi-channel or one-to-one conversations with mechanisms in place to capture social insights from both new and existing customers to continue to inform strategy, append to existing customer information, and update campaign metrics and outcomes for dashboard tracking.
- Inform Conduct social research to surface key consumer insights, including intentions, demographics and sentiment Perform white-space insight detection & discoveryCombineCreate an always on real-time view of key social media indicatorsCorrelate data with traditional metricsModify course direction to change engagement outcomeEngageIntegrate social intelligence (data analytics) into targeted action (Social CRM, Social BPM, Social Targeting) for in-market recognitionApply measureable, consistent, repeatable, real-time (ongoing) social intelligenceOptimize business process so that the right message is delivered by the right person to the right person on the right platform
- Real-time & relevant. Social media analytics can reflect in real-time consumer preferences, sentiment and intentions.More than monitoring. Social media insights extend beyond basic monitoring or tracking of likes or retweets to create a more comprehensive understanding of your social consumer, including:demographic,intentions & interests, and psychographic detailsAdvanced analytics surfaces critical author details to enable Social CRM Social network vs. platform-specific. Track consumer engagements across social media platforms or narrow your analysis to a single community. Topics or emerging trends on one platform may not yet be shared on others; each platform has its own unique engagement cultureBlend social and traditional market research. Identify emerging trends and then use more traditional research to validate social findings. Or kick off research by conducting white-space analysis first.
- General Social InsightsHigh level information on the volume of social media conversations around your brand, industry or offering, including general sentiment and basic platform-specific detailsDimensionsExtract a specific aspect of conversation.Apply sophisticated filtering to surface: Intentions (Problem, Awareness, Consideration, Preference, Purchase, Referral, Advocacy, etc.)Interests (Category: attribute, associations Brand: features, functions)Voice of CustomerSocial media conversations can reflect authentic, unfiltered and solicited opinions from consumers. Terms (Things, Actions, Descriptors)Themes (Volume, Cohesion, Presence)AudienceSurface social media profiles that can be used to inform persona development and correlated with existing dataDemographics (Age, Gender, Location)Psychographics (Defined w/Dimension (Fitness, Music))Event Stage (Defined w/Dimension (Pregnant, Parent))
- Applying semantic technology to large volumes of data LSA in particular is the "secret sauce. It is an evolving system versus an analysis of word groupings at a single point in timefar more flexible/nimble than competitors in the NLP space. It compares 600,000 documents for the meaning of each word results in more accurate analysis and better "listening". LSA is a method for exposing latent contextual-meaning within a large body of text – more relevant terms carry more weight to construct more accurate vectors of how consumers are talking about a category, brand or productAble to apply contextual meaning to topics – select conversations based on meaning Social Search - Categorizing ConversationsThe semantic services layer essentially broadens the end market to anyone who needs more accurate search - this includes web search (as long as the user is willing to "wait"), e-discovery, email archiving, and potentially more accurate video search based on descriptions/reviews/tagging, etc.semantic technology is able to isolate and categorize contentGet all the conversation, not filtered like a google or yahoo searchSemantically Surfaced Author DetailsAssign important attributes to authors or groups of authors and reveal unique considerations and preferencesExamine actual language used to describe the company, brand or productApply traits to posts then average these traits together to produce author profile
- Use to identify unexpected or emerging trends, which can then be validated by more traditional market research or kick-off exploratory in-depth analysisConduct rapid discovery of important trends driving consumer perceptions and attitudesSocial media conversations represent true consumer expressions, using their own language, to describe products, brands or industries
- Rich detail available from 140 characters, including demographic information, consumer preferences and considerationsScalable, robust text mining technologies are required to not only organize vast volumes of data but make sense of itExpose very granular details of a specific author’s opinionFine-tune audience segmentation for outreach efforts by location, gender or entertainment (show)
- Latent semantic analysis learns much the same way the human brain does, by recognizing the context of language from all the previous times it has seen a term within that context. Sophisticated language processing and filtering is critical to manage and organize the vast amount of unstructured data produced every day. (According to IDC, 95% of the 1.2 zettabytes of data in the digital universe is unstructured, 70% of which user-generated content. And it’s expected to grow even more with estimates pegging the compound annual growth rate at 62% from 2008-2012
- Industry research estimates 127 million people, or 57.5% of internet users visited a social networking site at least once a month in 2010. Not only is the number of users growing quickly, but the audience demographics continue to widen. In 2010, it’s estimated that 59.2% of adult internet users will visit social networks monthly, up from 52.4% in 2009.Research estimates predict a steady rise in social media users by 2014, with 2/3 of all internet users, 164.9 million people, visiting social network sites on a regular basis. Ideally, your listening tool is able to manage both unstructured social data but also private, internal data. Otherwise you are analyzing data in a vacuum.
- To engage effectively with customers, companies must first understand them on an individual level and then provide them with meaningful value. The key is identifying what is meaningfulUsing advanced text mining and semantic analytics, emotional and behavioral information can be extractedSocial search is the search for information within a consumer’s social and interest graph
- A unique feature of social media is it that is always-on, immediate and unfiltered. Consider configuring a dynamic dashboard that can track in real-time key social media indicators. Extend your social intelligence to include more traditional data that can be used to inform business intelligence and optimize workflow process Right message to the right audience on the right platform from the right personUse social insights to support the true intent of social media – two-way conversation between the organization & customer. Remember the engagement is driven by the needs of the customer
- Quickly asses campaign programs, course corrections and key social media indicatorsAlways-on, real-time monitoring reflects the immediacy and nature of social media usage
- Social and Traditional inputs used to create precise, tailored outputs reflects true social business collaborationNeed both data feeds to engineer a change or movement along the social media maturity curveThe socialization of the business is critical to making the most of existing transaction data, web metrics and other engagement records
- When an organization begins to fold in key social media intelligence, unique insights, audience trends and potentially a better understanding of your customer’s placement within the lifecycle value framework can be achieved. Consider the context of your audience. How will conversation shift about your product during a major life event or a change in interest? Based on industry type, what type of profile could your organization create using existing data and social media analytics about Im_Just_Mii? Would that analysis produce a persona that could be used to develop audience segmentation?
- This is not a new way of doing business – delighting your customer with the right message. But never has the customer had such a powerful and amplifying platform to inform you of their opinion and perspective. A successful business engagement requires a two-way conversation with the customer. Without collecting and understanding your consumer’s input and responses, you are missing out on valuable and increasingly critical information
- True social business collaboration includes and supports the entire organizationAllows the enterprise to conduct more targeted engagements: 1:1 and 1:many to optimize social collaboration across multiple business functions: marketing, customer service and support, loyalty and advocacy programs, everything to improve the customer experienceThe real benefit of social data is when it’s combined with private data or more traditional information to create a 360 view of the customer
- A hub of correlated and relevant social detail and traditional data that can be used to optimize outreach efforts by audience, platform or channelInstead of social being viewed and used as a stand-alone data point, it’s treated as another channel critical to consumer knowledge
- Sophisticated categorization and filtering can surface consumer insights and intentions providing unique market opportunities that aren’t necessarily limited to social media engagements.Analytics is a method of not only determining what your customers are saying but just as importantly where they are saying it.The next step is surfacing actionable insights: where they want to be engaged, with what type of promotion or knowledge and to some extent the type of product they want