Thanks to the immense advancements in A.I./IT/Cloud technological which combine processes like Machine Learning and Knowledge Management, Cognitive intelligence, Semantics technology and Text Mining, as well as Robotic Process Automation (RPA), companies can be virtually assured of better business performance, less bureaucracy, increased productivity levels, and higher customer satisfaction (which leads to a higher competitive edge in the markets for small business especially). The importance of Social Media as a huge source for valuable and previously undiscovered business strategies and solutions for companies and customers has been widely recognized. Especially considering the many ways in which internet data across the entire world wide web can be analyzed, processed and filtered by A.I. applications and as close as possible to real time, thanks to the high power capacity and processing speed of A.I./Cloud systems (consider for example Amazon’s AWS which is currently leading the market as a Cloud provider with over one million users in 190 countries). Natural Language Processing and Text Mining are also useful tools that can recognize human behaviour in written text and speech, and are also used to disect the information on social media, and help companies gather all the useful data to predict changes in consumer trends, fluctuations in customer demand/satisfaction, and anticipate future challenges based on the analysis of patterns in consumer behaviour.
This is why Social Media is so important; because these applications sift through all the available material online including of course consumer blogs (so that companies can learn what their customers are saying about a specific brand or product), professional websites, online libraries, academic journals, business reports from around the world and more, to find innovative and better ways to customize solutions and products for their audience. Because it encourages a cross-disciplinary approach with other areas of human knowledge, Social Media analytics afford an impartial objective view of potential innovative strategies that were previously unknown by a company which can also help them diversify into multiple areas and attract new customer audiences from different demographics. This article will cover three main ways for companies to monitor what customers are saying about companies on Social Media.
Open Source Intelligence
The first is Open Source Intelligence (OSINT), a strategy to extract useful information from the Web. It is used widely also by governments, defence and intelligence services to extract valuable data that can be categorized into sectors and classified according to multiple needs, such as Life Science, Defence, Government, and many business purposes including Risk Management, Banking, and Insurance. OSINT tools provide the capacity for real time monitoring of threads in conversations between users/customers on social media networks, providing real-time solutions for any developing crisis for example (as in the case of Defence Agencies which can respond quickly and more efficiently to a potential threat or even terrorist attack by monitoring what social media users are saying during a specific event if an incident occurs).
Social Media Analytical Tools
Learning how to use all Social Media networks and the analytical tools already provided by them, such as Facebook Analytics, is one of the best strategies for CEOs, managers and employees to make sense of the vast amount of information on social media. Twitter, Facebook, LinkedIn and of course YouTube are excellent social media sites that can help you gauge customer response just by engaging with them. Twitter especially is so popular that even POTUS Trump cannot stop using it, and with good reason, considering that more than 500 Million tweets are sent out worldwide on a daily basis. The first thing one should know how to do is link all your social media accounts effectively so that everything you post is mirrored in real time on all your other accounts; thus saving you time and also maximizing your online presence (which is another way also of magnifying your market presence and visibility). The Twitter and Facebook ‘Advanced Search’ application is extremely useful to target and extract specific tweets that matter to your company and brands, helping you identify dates, locations, and specific message senders also through useful hashtags and brand keywords. Sprout Social is another rising network, and along with Google alerts offers effective tools for your business as you can receive personalized responses from clients and customers. A.I. personal assistants can also identify in real time any need or business solution and deliver customized responses based on real-time analysis and filtering of the browsing history of clients and their patterns in consumer behaviour.
Third Party Monitoring Services
Lastly, third party social media monitoring services such as Oracle for example can do the job for you and target specific or multiple social media networks depending on your specific or various needs, which a company must naturally first identify before implementing these services so as avoid buying additional applications that they might not really need if based on the company’s nature and business goals. Oracle Social Cloud delivers Cloud computing services to track social media activity through their online server, and can help you not only manage and monitor consumer behaviour but also develop new marketing strategies or even new product development as the company can diversify with this newly acquired knowledge and attract new audiences.
