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    Siddhartha Patra
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    Social media analytics is the process of extracting valuable insights from vast amounts of social media data. It involves systematically analyzing semistructured and unstructured data using sophisticated tools to understand customers better through their locations, text, networks, actions, searches, apps usage, and hyperlinks. This enables informed decision making. While it provides real-time insights into public opinions, social media analytics faces challenges due to the high volume, velocity, diversity, and unstructured nature of social data.

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    Social media analytics is the process of extracting valuable insights from vast amounts of social media data. It involves systematically analyzing semistructured and unstructured data using sophisticated tools to understand customers better through their locations, text, networks, actions, searches, apps usage, and hyperlinks. This enables informed decision making. While it provides real-time insights into public opinions, social media analytics faces challenges due to the high volume, velocity, diversity, and unstructured nature of social data.

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    31 views24 pages

    SMA Session 1

    Uploaded by

    Siddhartha Patra
    Social media analytics is the process of extracting valuable insights from vast amounts of social media data. It involves systematically analyzing semistructured and unstructured data using sophisticated tools to understand customers better through their locations, text, networks, actions, searches, apps usage, and hyperlinks. This enables informed decision making. While it provides real-time insights into public opinions, social media analytics faces challenges due to the high volume, velocity, diversity, and unstructured nature of social data.

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    of 24

    Social Media Analytics Overview

    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

    Interest in social media analytics overtime


    5
    Social Media vs. Traditional Business Analytics
    Table 1. Social media vs. conventional business analytics

    Social Media Analytics Business Analytics


    Semistructured and unstructured data Structured data
    Data is not analytical friendly Data is analytical friendly
    Real-time data Mostly historical data
    Public data Private data
    Stored in third-party databases Stored in business-owned databases
    Boundary-less data (i.e., Boundary within the Internet) Bound within the business intranet
    Data is high volume Data is medium to high volume
    Highly diverse data Uniform data
    Data is widely shared over the Internet Data is only shared within organizations
    More sharing creates greater value/impact Less sharing creates more value
    No business control over data Tightly controlled by business
    Socialized data Bureaucratic data
    Data is informal in nature Data is formal in nature

    6
    Purpose of Social Media Analytics
    • To enable informed and insightful decision making by
    leveraging social media data.

    • To know your customers better.

    7
    Knowing your customers : Key Components

    • Where are they?


    • Location Analytics
    • What they say?  How they network?
    • Text Analytics
     Network Analytics
    • What they do?  How they navigate?
    • Actions Analytics
     hyperlink Analytics
    • What they search?  How they use apps?
    • Search Engine Analytics  Apps Analytics
    Component One: Text

    • Social media text analytics deals with the


    extraction and analysis of business insights from
    textual elements of social media content, such
    as comments, tweets, blog posts, and Facebook
    status updates.

    9
    Component Two: Networks

    • Social media network analytics extract, analyze,


    and interpret personal and professional social
    networks, for example, Facebook, Friendship
    Network, and Twitter.

    10
    Layer Three: Actions

    • Social media actions analytics deals with


    extracting, analyzing, and interpreting the
    actions performed by social media users,
    including likes, dislikes, shares, mentions, and
    endorsement.

    11
    Component Four: Apps

    • Apps analytics deals with measuring and


    optimizing user engagement with mobile
    applications (or apps for short).

    12
    Component Five: Hyperlinks

    • Hyperlink analytics is about extracting,


    analyzing, and interpreting social media
    hyperlinks (e.g., in-links and out-links).

    13
    Component Six: Location

    • Location analytics, also known as spatial


    analysis or geospatial analytics, is
    concerned with mining and mapping the
    locations of social media users, contents,
    and data.

    14
    Component Seven: Search Engines

    • Search engines analytics focuses on analyzing


    historical search data for gaining a valuable insight
    into a range of areas, including trends analysis,
    keyword monitoring, search result and advertisement
    history, and advertisement spending statistics.

    15
    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

    Prescriptive Analytics suggest


    the best action to take when
    handling a scenario
    16
    Social Media Analytics Cycle
    Identification

    Interpretation Extraction

    Business
    Objectives
    Visualization Cleaning

    Analyzing

    Social media analytics cycle


    17
    Challenges to Social Media Analytics
    • Volume and Velocity as a Challenge
    • Diversity as Challenge
    • Unstructuredness as a Challenge

    18
    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.

    20
    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.
    22
    Case Study
    Thank You

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