All posts tagged data

On February 19th, we conducted a webcast titled “Combining Social and Enterprise Data to Increase Insight.” It was one of the most popular events we have run in the last 12 months. It is great to see so many people excited about the future of social media data analytics.

The objective of the webcast was to introduce the concept of combining social media with enterprise data and discuss potential areas of value. We chose to take a “foundational” approach to the webcast based on our understanding of where people are right now regarding their analytic capabilities. Our poll of the attendees confirmed our approach. The vast majority of the attendees are not combining social media and enterprise data now.

We asked the question, “What drove you to register for this event?” The options given were:

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Data from black Friday is in and retailers are jumping for joy. Sales on Thanksgiving day grew to make combined Black Friday and Thanksgiving foot traffic sales over $12 billion this year. We’re also shopping more directly from our phones – Black Friday 2013 saw a huge jump in online sales as everyone tried to lock in great deals without having to wait in lines outside in the cold.

But what else are people chatting about related to the holiday season? Individuals are turning to Facebook and Twitter to share their wish list and holiday activities with friends and followers. Social Media continues to be a major resource for spreading holiday cheer and sending wishes to loved ones near and far. People chatted about the holiday season, shared stories about their Thanksgiving and discussed annual traditions such as lighting the menorah, decorating their tree with ornaments, putting up lights, sending out cards and spending time with family.

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Discussions about Santa are trending up as we get closer to Christmas. The good news is that Santa is on Twitter so you can reach the man himself directly with a simple Tweet to @NORADsanta . Currently about 116,000 followers are tracking Santa as he gets ready for his global journey on his sleigh. If you are counting down the minutes until Santa packs up his bag and starts his trip you can also check out the Santa Tracker Countown at noradsanta.org. So you better be good for goodness sake – looks like Santa has gone digital and is plugged in. Given all the Tweeting and Facebooking you have been doing this year, he will get a pretty good idea if you have been naughty or nice!

segmentationIn our webcast today – Turbocharging Your Approach to Social Media Analysis – Cathy Buena discussed an approach to analyzing business problems using advanced segmentation with social media analytics. It was a fantastic presentation that has generated lots of interest, so we wanted to make some of the information available as soon as we could. Here it is! (Note: To view the entire recorded webcast, see our site. Learn More>>Webinars. The content will be available Nov 22.)

The analytic process can be broken down into 5 steps:

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segmentationWhat are real insights? Let’s answer that question by answering what they aren’t. Real insights aren’t brand-level trendlines, or general metrics, or basic sentiment charts. They are calculated, methodical findings that result from segmentation. What do I mean by segmentation? Think of it this way: Your check engine light comes on in your car. That’s a top-level indicator that should prompt you to open the hood. It’s like a general trendline that shows a particular spike. You have no idea what that spike represents, you just know you should probably investigate. Opening the hood exposes the engine, but unless your car is spewing oil, chances are you’ll need to have further examination done to determine the issue. Data segmentation and true insight gathering follows this exact concept. Each part of the engine represents a segment of data, which must be analyzed further to identify the issue. By doing this, you compartmentalize your analysis, which enables you to identify the issue much more quickly, revealing an action that should be taken. Read more…

slIn a recent webcast on small data and the importance of social media (Get Big Data Value From Social Media), a question was asked of the panelists:

“What is more important when hiring people to do social media analytics – social media experience or business analytics?”

The answer, in a word, was “yes”. Fact is, it is hard to make trade-offs like this when looking to fill a position. These two skills are less of a differentiator now as every year there are more people with these types of skills looking for new job opportunities. In a recent report from Gleanster, Ian Michiels analyzes the question in depth and makes the case for new considerations. See the report here >>

We agree with his thoughts. Everyone understands that social media is evolving rapidly and that the amount of data is growing by leaps and bounds. But it is also critical to note that the tools, like Visible Intelligence, are evolving just as rapidly. Marketers no longer have to look for people with PhDs in statistics or computer science to help them build models to analyze unstructured data. They can do more than ever on their own (but the smart ones still look for help to get to the deep insight). So rather than look for someone with robust skills in social and/or analytics, firms should be looking for people with a passion for insight and satisfying the customer. Someone with this intangible trait will be driven to find the diamond in the rough (insight) in the data for the right reasons.

Michiels cites some other great research around who is doing what kind of analysis on social media. For example, 96% do high level analysis for the brand or competitors around sentiment. But there are some things that only cutting edge companies are doing now.  I’ll let you read the report to find out the details. What do you look for when hiring people for social media monitoring and analysis roles?

Yesterday I blogged about the VMA performances heard around the world. Today I am going to focus on what matters most with any award show – Fashion.

Taylor Swift looked beautiful with Great Gatsby-esque hair and many others were lovely or trendy but I really appreciated the throw back styles of a select few. Miley Cyrus seemed inspired by 2009 Gwen Stefani, because 4 years ago can be vintage.

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The world, and the media camped out in front of London’s St. Mary’s hospital, has been waiting for months for the arrival of the latest member of the British royal family.  At last, yesterday the baby’s birth was announced.  Social media lit up as posts flew about the #RoyalBaby.  To those of you who somehow missed it.  #itsaboy!  As you can see from the word cloud below, there was lots of discussion leading up to the birth about the baby, the baby’s parents, other royal family members, the hospital and the fact that the baby will be third in line to the British throne.

royalbaby1

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As a social media monitoring and analytics company, one of the most frequently asked questions we get is “so what data do you collect and how fast do I get to see it?”  It’s a great question and critical since in business intelligence, or social intelligence as we are in, everything starts with the data.  Our data collection has kept us ahead of rest and powers our groundbreaking analytic capabilities like Topic Discovery and powerful engagement features in Visible Intelligence.

So let’s start with the first question, what do we collect?  We’ll start with the obvious answer:  social media data in over 50 languages.  Visible collects social media data from a massive list of known global social media sites and we have our own proprietary crawlers tools that discover and collect from sites that fit the format of social media content we are looking for.  Typically that means content that has an author, date, body, usually a title and most of the time a place for others to leave feedback and comments but there are always exceptions like Twitter.  The types of sites include blogs, forums, microblogs, social networks, review sites, video and photo sharing sites, wiki’s, social bookmarking, mainstream and news sites and much more.

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At the recent Forrester Marketing Forum #FMF11 the key theme was around how rapid innovation is creating radical shifts in the methods and media that people use to engage with your company, brand, and products.

At a time when the evolving nature of social media is opening up new ways of thinking we decided to ask some of the attendees what they believe is the secret source of marketing innovation.

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A Challenge to Marketers

We live in the age of data see http://blog.visibletechnologies.com/inflection-point-social-media/. Statistics is the language of data and it’s time for marketers to up their game.

Beyond Incidence

A popular tool in social media listening platforms is the “word cloud”. Typically these are generated using the rudimentary method of counting the frequencies of word occurrences in a collection of documents. Of course the fact that words like “the” and “what” occur frequently is useless to marketers. Unfortunately, most products simply suppress common English words and stop there. These simple minded techniques miss the mark on two fronts.

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