Why analysing social big data is worthwhile
Sure, not everything you read on social media is worthy of a second glance, a fact anyone who has scrolled down their Facebook newsfeed recently could tell you. But for businesses conducting content marketing, social media presents an enormous opportunity to better understand what people know and care about.
As Facebook’s founder and CEO Mark Zuckerberg once said: “By giving people the power to share, we’re making the world more transparent.”
Indeed, many businesses are already mining through posts and tweets in search of ways to improve their marketing campaigns.
Social networking sites are also actively searching for ways to analyse, and potentially sell, this data. For instance, Facebook is currently gathering 63 different pieces of data for its API (application programming interface), according to Business Insider Australia.
There is a massive amount of data that gets shared every day. Facebook’s “like” button is used 2.7 billion times a day, while Twitter users were pounding out 143,199 tweets every second during the middle of last year, according to Business Insider Australia.
Analysing big data on social media not only helps businesses with their social media marketing, it can also help businesses make more informed decisions.
Recognising the potential behind social media data, technology and consulting company IBM partnered up with Twitter to analyse tweets, and find ways of applying it to the decision making process.
Applying Twitter data to business decisions will not be easy, according to IBM, as relying solely on Twitter could be seen by businesses as being unreliable.
But since IBM specialises in integrating complex systems, they could soon develop practical ways of applying Twitter data.
“Twitter provides a powerful new lens through which to look at the world – as both a platform for hundreds of millions of consumers and business professionals, and as a synthesizer of trends.” said the Chairman, President and CEO of IBM, Ginni Rometty.
“This partnership, drawing on IBM’s leading cloud-based analytics platform, will help clients enrich business decisions with an entirely new class of data” she said.
IBM will be training tens of thousands of IBM Global Business Services consultants on how to mine data Twitter.
Posted by Dylan Brown