Thanks to improved measurement tools, it is now standard among social strategists to present hard data on ROI and build strategies backed by statistics and charts - a far cry from the early years of social media. But while this data makes for great PowerPoints, concerns remain that numbers don't tell the whole story. What does "reach" really mean? Can influencers really be ranked on a single numerical spectrum?
Enter predictive analytics: Advocates suggest that simply pulling numbers from Big Data tools isn't enough - you need to match the data to the story that you are trying to tell, and liberate information from what Wes Nichols calls "swim lanes". Each piece of an organization has a different picture of the data, and only combined do they provide meaningful lessons.
This webinar is designed as a heart-to-heart conversation about the right and wrong ways to make use of predictive analytics.
3. Our Speakers
Kaiser Fung is a recognized expert in marketing analytics, a well-known speaker, and blogger. He is Vice
President of Business Intelligence and Analytics at Vimeo. Previously, he led the analytics team at Sirius
XM Radio. He is the creator of the acclaimed Junk Charts blog (http://junkcharts.typepad.com), which
pioneered the critical examination of data and graphics in the mass media; and the author of two popular
books on statistical thinking, including the recent release Numbersense: How to Use Big Data to Your
Advantage.
Mike Liddell General Manager, Digital Before coming to NGP VAN, Mike started working on state
legislative and congressional campaigns to later become the Director of Online Communications for the
2004 Democratic National Convention. He then put in two tours of duty as the Director of Online
Communications for the Democratic Senatorial Campaign Committee (DSCC). Most recently, he served in
the Obama Administration, where he led the award-winning redesign of Treasury.gov. @mliddell
Eric Siegel, Ph.D., founder of Predictive Analytics World and Text Analytics World, and Executive Editor
of the Predictive Analytics Times, makes the how and why of predictive analytics understandable and
captivating. In addition to being the author ofPredictive Analytics: The Power to Predict Who Will Click,
Buy, Lie, or Die, Eric is a former Columbia University professor who used to sing to his students, and a
renowned speaker, educator, and leader in the field. @predictanalytic
Paul Dunay, moderator, is an award-winning B2B marketing expert with more than 20 years’ success in
generating demand and creating buzz for leading technology, consumer products, financial services and
professional services organizations. @PaulDunay
#SMTLive
4. How Predictive Analytics
Leverages Social Media
Social Media Today
November 2013
Eric Siegel, Ph.D.
Founder, Predictive Analytics World
Author, Predictive Analytics
Predictive Analytics World
11. Major N. American Telecom
700% more likely to cancel if
someone in your network does
Optus (Australian telecom)
Doubled churn model performance
with social data
Predictive Analytics World
33. Social Analytics + Politics
Singular Focus
Social data including relationships
Analytics should have a seat at the
table
34. Join us on Thursday for…
11/7 Social Media Hacks and Hijacks: The Best Tips and Tricks to
Maximize Your Social ROI
http://socialmediatoday.com/hacks-and-hijacks-webinar
Editor's Notes
The way we go about our lead generation campaigns is we base them on a Unified strategy- we determine the goals of the client and these can be refined once we discuss a little more but then we also factor in the purpose of the potential leads who are seeking information. People are coming to Social Media Today to get information and make their business better. They are looking for a solution. Jive can be that solutionWe can guarantee the Social Media Today leads are better qualified because of the quality of the content, and the unique vision that understands what business you are in and what you are trying to achieve. We are not trying to simply deliver leads, we are trying to cultivate relationships and connect you to real customers.
http://www.marketingprofs.com/charts/2013/11340/digital-marketers-on-twitter-share-retweet?adref=nl080613Quote on lower person reading article.Social Media Today’s number’s are growing exponentially lately, which is great for Jive because as we develop new content we ccanWE are unique in our reach
We’d love to propose a content hub as a way to organize this lead generation campaign for Jive. The content hub can be specific to each of the verticals you are looking to focus on or can be more general to incorporate all three verticals and maybe more as the campaign grows. We envision leveraging existing Jive eBooks, whitepapers, and webinars to begin lead generation immediately (in the next few slides, I’ll show you how Oracle does this)
BOOK:Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Diewww.thepredictionbook.comCONFERENCE:Predictive Analytics WorldSan Francisco, Chicago, Boston, Washington DC, Toronto, Berlin, and Londonwww.predictiveanalyticsworld.comONLINE PORTAL AND NEWS SITE:Predictive Analytics Timeswww.predictiveanalyticstimes.comCONFERENCE:Text Analytics WorldSan Francisco and Bostonwww.textanalyticsworld.comOnline training:“Predictive Analytics Applied" - View it on-demandwww.businessprediction.com
Also applies to fraud detection. If your contacts commit fraud, so might you.In fact, one fraud scheme can't be detected without social data. A group of criminals open financial accounts that improve their respective credit ratings by transferring funds among themselves. Since the money transfers take place only between these accounts, the fraudsters need not spend any real money in conducting these transactions; they play their own little zero-sum game. Once each account has built up its own supposedly legitimate record, they strike, taking out loans, grabbing the money, and running. These schemes can be detected only by way of social data to reveal that the network of transactors is a closed group.
If your friend's defect, you're much more likely to as well.Friends stick to the same cell phone company. If you switch wireless carriers, your contacts are in turn up to seven times more likely to follow suit.“Birds of a feather use the same phone service provider”http://blog.summation.net/2009/11/birds-of-a-feather-use-the-same-phone-service-provider.html“The Social Effect: Predicting Telecom Customer Churn with Call Data”http://www.predictiveanalyticsworld.com/sanfrancisco/2010/agenda.php#day1-12
Hebrew University identified 83 percent of sarcastic Amazon product reviews (e.g., "Trees died for this book?").
“Polite Wikipedia editors are more likely to achieve high status through elections, but, once elevated, they become less polite.”A Computational Approach to Politeness with Application to Social Factors, byDanescu-Niculescu-Mizil et al:http://arxiv.org/abs/1306.6078http://www.mpi-sws.org/~cristian/Politeness.htmlSee also, determination of controversial Wikipedia articles:http://arxiv.org/abs/1305.5566
PayPal identifies from written feedback customers who intend to leave (aka churn or defect) with 85 percent accuracy.www.textanalyticsworld.com/newyork/2011/agenda/full-agenda#day1-gold
Microsoft works to predict which people are influential in a social network
See also, Predicting the Number of Likes on a Facebook Status With Statistical Keyword Analysis:http://minimaxir.com/2013/06/big-social-data/See also, "What Makes online Content Viral?" by Jonah Berger and Katherine L. Milkman, Journal of Marketing Research, American Marketing Association, ISSN: 0022-2437 (print), 1547-7193 (electronic)