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SMA Session 1
SMA Session 1
1
What is Social Media Analytics?
• Social Media Analytics is the art and science of extracting valuable
hidden insights from vast amounts of semistructured and
unstructured social media data to enable informed and insightful
decision making.
2
Why Science?
• It is a science, as it involves systematically identifying,
extracting, and analyzing social media data using
sophisticated tools and techniques.
3
Why art?
• It is also an art, interpreting and aligning the insights gained
with business goals and objectives.
4
Interest in social media analytics
6
Purpose of Social Media Analytics
• To enable informed and insightful decision making by
leveraging social media data.
7
Knowing your customers : Key Components
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Component Two: Networks
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Layer Three: Actions
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Component Four: Apps
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Component Five: Hyperlinks
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Component Six: Location
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Component Seven: Search Engines
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Types of Social Media Analytics
Predictive Analytics involves
analyzing large amounts of
accumulated social media data
Predictive
to predict a future event Analytics
Descriptive Analytics is
focused on gathering and
describing social media data in
the form of reports,
Types of
visualizations, and clustering
social media to understand a business
analytics problem.
Prescriptive Descriptive
Analytics Analytics
Interpretation Extraction
Business
Objectives
Visualization Cleaning
Analyzing
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Challenges to Social Media Analytics
• Volume and Velocity as a Challenge
• Social media data is large in size and is swiftly generated. Capturing and
analyzing millions of records that appear every second is a real challenge
19
Challenges to Social Media Analytics
• Diversity as Challenge
• Social media users and the content they generate are extremely diverse,
multilingual, and vary across time and space.
• Due to the noisy and diverse nature of social media data, separating
important content from noise is challenging and time consuming.
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Challenges to Social Media Analytics
• Unstructuredness as a Challenge
• Social media data is dubious grammatical structure, and is laden with
abbreviations, acronyms, and emoticons (a symbol or combination of symbols
used to convey emotional expressions in text messages), thus representing a
great challenge for extracting business intelligence.
21
Review Questions
• Why it is important for business managers to understand and mine social
media data?
• What is social media analytics, and how it is different from traditional
business analytics?
• Briefly explain the components of social media data. Support your answer
with examples.
• Explain the social media analytics cycle.
• What ethical issues should be considered when mining social media data?
• What are some main challenges to social media analytics?
• Compare different social media analytics tools available in the market and
explain their strengths and weakness.
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Case Study
Thank You