The following is an excerpt from “Social Media and
Business Intelligence: Creating the Integrated Customer Hub” an
exclusive whitepaper brought to you by Oracle. Download the complete whitepaper now
and learn how by creating a 360-degree view of your customers, you can
equip organizational teams with the intelligence they need to
successfully engage with them.
Introduction
In
the beginning, individuals monitored social media conversations via RSS
feeds or by manually reviewing social media platforms for mentions of
their companies, brands, or offerings. Unfortunately, this approach was
not scalable, and over time the adoption of social media tools and
platforms has outstripped companies’ ability to derive real-time
consumer insights and to effectively engage with social customers in a
relevant and timely manner.
As social media use
has grown, an urgent need has emerged to correlate the information
generated through social data with existing consumer information, and
integrate it with sophisticated data management systems. No longer is
social the sole purview of the marketing or PR group within an
organization. Today, the insights derived from social media are as
relevant to customer service as they are to engineering. By creating a
360-degree view of your customers, you can equip organizational teams
with the intelligence they need to successfully engage with them. By
optimizing your social strategy to leverage both social insights and
existing private data, you enable your organization to create outreach
efforts, new products, and campaigns grounded in real-time, repeatable,
automated, and scalable analysis.
A New Age for Content
Never
before have so many individuals been involved in the production,
communication, and sharing of content—making this a disruptive time for
traditional industries (like advertising, news, and entertainment),
which find themselves vying with consumer-created content for customers’
attention.
To compete effectively in this new
landscape, organizations must monitor and analyze the conversations
taking place over social media. This is where their customers are. And
this is where they need to be—either participating in or monitoring
those conversations. Companies that fail to do so are missing out on
consumer insights and opportunities to heighten brand awareness.
With
social media now a key component of most organizations’ business and
outreach strategies—and the volume of social data steadily
rising—rudimentary analytics technology and manual reviews of social
media platforms no longer suffice. Organizations need a new approach to
monitoring the conversations taking place over social media, and Oracle
Social Engagement and Monitoring Cloud Service provides it.
Superior Approach
The
semantic search and analytics technology at the heart of Oracle Social
Engagement and Monitoring Cloud Service enables it to automatically
capture consumer “considerations and preference” metrics as well as
insights from consumer-generated content in social media and structured
and unstructured data environments. Some solutions use Boolean or
keywords to analyze information but are unable to disambiguate the
meaning of terms such as (the shoes) and (the reptile), and others rely
on natural-language processing (NLP, a time-consuming and complex
language-modeling approach) to disambiguate content. Oracle Social
Engagement and Monitoring Cloud Service uses advanced statistical
language modeling to address the inaccuracy and bluntness of keyword
search and the speed and cost disadvantages of NLP techniques.
Figure 1. Oracle Social Engagement and Monitoring Cloud Service uses advanced statistical language modeling.
The
semantic engine in Oracle Social Engagement and Monitoring Cloud
Service is based on latent semantic analysis (LSA), which allows meaning
to be derived from social media conversations and private data. By
using sophisticated language-modeling technology, Oracle Social
Engagement and Monitoring Cloud Service is able to achieve a high degree
of accuracy, uncovering a consumer’s true considerations and
preferences as they relate to lifestyle, category, brand, product, and
campaign.
Article Source :
http://smartdatacollective.com/99301/social-media-and-business-intelligence-creating-integrated-customer-hub
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