Social media analytics

Social media analytics is the process of gathering and analyzing data from social networks such as Facebook, Instagram, and Twitter. It is commonly used by marketers to track online conversations about products and companies. Social media analytics also defined as, “the art and science of extracting valuable hidden insights from vast amounts of semi-structured and unstructured social media data to enable informed and insightful decision making.” There are three main steps in analyzing social media: data identification, data analysis, and information interpretation. To maximize the value derived at every point during the process, analysts may define a question to be answered. The important questions for data analysis are: 'Who? What? Where? When? Why? and How?' These questions help in determining the proper data sources to evaluate, which can affect the type of analysis that can be performed.Business intelligence (BI) can be described as 'a set of techniques and tools for the acquisition and transformation of raw data into meaningful and useful information for business analysis purposes'.Social Media Analytics Who are the advocates and influences for brand or product? Advocate InfluenceAre new communities of influence emerging? Complex Event Processing Sentiment RatioExposure & Impact How does brand compare against competitors?Which social media channels are being used for discussion?Natural Language Processing VelocityShare of VoiceAudience EngagementWhat are the causes for expressed intent (buy, churn etc.)? Clustering Data Mining CorrelationsTopic Affinity Matrices