Innovation Story: Evaluation of social media data

UNDERSTANDING CUSTOMERS AT LAST

In the course of digital transformation, the collection and evaluation of data is developing into an increasing significant success factor for companies. Big data solutions are already enabling enterprises to decipher interconnections at a rapid rate. This allows decision-makers to recognize the requirements of their own sales markets quickly, analyzing and predicting the exact behavior of their customers so as to optimize their buying experience. That said, a lot of companies are failing to exploit the potential of big data. The fact is that huge, freely-available data sources, which are distributed via social media, have so far gone unnoticed. That’s despite the fact that information in the form of comments and statements made by customers in forums or, for example, on Facebook and Twitter can provide genuine added value if is prepared in a structured way that is easy to work with.

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Benefits of a structured evaluation of social media data:

Example 1: Giving product campaigns a regional alignment

  • Find out in real time how and what people are writing about your own products on social networks.
  • Pick up on moods in the context of previous campaigns, and recognize regional differences.nnen.
  • Start up regional marketing and sales campaigns at short notice and in a targeted way.

Example 2: Optimizing product inventory levels

  • Analyze social media responses to a product in a particular region.
  • When there is a high frequency of positive mentions of a product, it is logical to assume that sales will increase. Inventory levels can be adjusted accordingly.

Various technical solutions, such as SAP HANA, enable companies to structure and analyze comments and statements using so-called sentiment analysis. This form of analysis provides enterprises with particular added value when new information is linked directly and immediately with business data, like current inventory levels. And that is exactly the unique selling point of SAP HANA. After all, with this SAP solution, it is possible to identify changing framework conditions and link them to the bigger picture.

Using a text index, the SAP technology recognizes criteria such as language, general comments, contents and the tonality of texts. Available information is then structured and rapidly classified. After that, every customer comment is broken down into its basic elements and evaluated.

More than ever before, enterprises from various sectors can make use of the analysis of publically available data to generate valuable knowledge that they can utilize to successfully realign their products and services. Q_PERIOR has been successfully supporting large corporations for years in the course of big data projects, and would be delighted to advise you on how you can yield the most useful findings from social media data. Get in touch with us now!

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2017-05-09T17:01:17+00:00 7. March 2016|