Socialytics, lexically is still a typo, but has already engraved its potent in contemporary business preamble with a thick brush.
Socialytics or Social analytics is portrayed as one of the leading tech trends in the coming years. Though at nascent stage, has created enough hysteria especially with social media at the helm of technology revolution. With social platform been embraced at a rapid speed, conventional structured data churn'n'mine is suddenly inadequate to discern the buying pattern and to eventually contrive an apt sell-strategy. In the current social world when one prefers to tweet name of the new pet and post holiday experiences on Facebook walls, conventional analysis is far from enough to construe customers' pattern. So is Socialytics all about making sense with "dispersed information"? Well, what if we know what a customer wants before asking? In simple words, along with conventional Business analytics, Social analytics could increase the predictability resulting in quicker decisions and better customer engagement. While I will stay away from admonishing any Social analytics tools at this stage, would rather harp on this explosive trend which will redefine the complete customer engagement dynamics.
Socialytics or Social analytics is portrayed as one of the leading tech trends in the coming years. Though at nascent stage, has created enough hysteria especially with social media at the helm of technology revolution. With social platform been embraced at a rapid speed, conventional structured data churn'n'mine is suddenly inadequate to discern the buying pattern and to eventually contrive an apt sell-strategy. In the current social world when one prefers to tweet name of the new pet and post holiday experiences on Facebook walls, conventional analysis is far from enough to construe customers' pattern. So is Socialytics all about making sense with "dispersed information"? Well, what if we know what a customer wants before asking? In simple words, along with conventional Business analytics, Social analytics could increase the predictability resulting in quicker decisions and better customer engagement. While I will stay away from admonishing any Social analytics tools at this stage, would rather harp on this explosive trend which will redefine the complete customer engagement dynamics.
Importance of Social media is not disputable but how to measure the benefits of Social media is still relatively blurred. Putting it in a pure business lingo, What is the ROI?
ReplyDeleteLet me start answering it with a blockbuster query. Is social media part of the strategy or a strategy? Its not a trick question, just framed with trickery. Ideally, social media should be part of the overall strategy. It should be constructed in line with overall business goal as it can add value to different aspects of the same. Be it Revenue, Marketing, Branding or even Employee Satisfaction. Once aligned to business goal, measurement can be a tangible outcome of metrics around those aspects. Did I make it look like an easy picking? Well, with all the respect to the institutions that specialize in providing frameworks and solutions pertaining to social media, I have to concede that to instill Social media into insecure organizational DNA and extract desired value is indeed a daunting task especially when it comes to extracting pertinence out of amoebic data. But, like any new trend, social media will have its learning curve and the maturity point.
So, strategic alignment with apt measurement can be a structured stride towards taming the unstructured data.
Below article further reinforces Socialytics domination for the current year and forward.
ReplyDeletehttp://www.cio.com/article/697235/Mobility_Cloud_Analytics_to_Reshape_IT_in_2012