IBM Watson Analytics for Social Media

Hear What Customers Are Really Saying

IBM Watson Analytics for Social Media

Market analysis is not new and at this point social media is really not new either. (You’ve seen the messages that you’ve been friends for over 8 years, memories from 5 years ago!)

It’s time to start making the most out of Social Media and what we can gather about how customers feel, brand reputation, problems or concerns, what customers want, and so much more from Social Media Analytics. We have had customers in Calgary, Edmonton and Western Canada analyzing their marketing campaigns for years – since we started helping them with Business Intelligence in 2005. Now we can do so much more and so quickly with advanced software like Watson Analytics for Social Media. This tool can help you save time, reduce brand risk, increase revenue, and reduce costs – all through real time insights provided through Social Media Analytics.

Analyzing audiences by demographics and geography is standard for marketing campaigns but this is just scratching the surface of the potential. With IBM’s Watson Analytics for Social Media it is possible to get real time responses to basics like demographics and geography of people talking about products or businesses – but then with sentiment analysis, influencer identification, natural language processing, and image analysis; the bigger picture becomes very apparent and very quickly.

Sentiment Analysis WASM Sentiment Analysis

One of the strengths of Watson Analytics for Social Media is the ability to process the sentiment behind reviews, blogs, tweets, re-tweets, and other online information. There are accessible metrics available to show the number of tweets on a topic. Not as many that can give you a good picture of the positive versus negative sentiment behind these tweets – and include other sources as well including reviews, blog posts, video descriptions and comments, news etc. Watson Analytics can include all of these sources and summarize the sentiment across topics and present in a visually appealing fashion.

Influencer Identification

Maybe you need to access that one person that has a wide audience, or maybe you want to only see what true influencers – ones with over 1000 followers – have to say about your product. Watson Analytics makes this happen.

Natural language processing

Ask questions using natural language to easily uncover insights into data – all without an advanced technical skillset. Once again we are talking about Not Needing to be a Data Scientist to work with data and understand exactly what’s going on. You’ve worked with your business for years – you’re the business expert. Now you can ask questions like a business expert and not a statistician or computer scientist.

Image analysis

With a rich understanding of visual images Watson Analytics can include more than just text analytics to help you understand what people are saying about your business or brand.

 

Putting all of these options together it is possible to come to conclusions and make fully educated decisions based on the results of your analysis. Watson Analytics for Social Media doesn’t leave the demographics or geography behind either – you can also view responses by gender, or region as well, in addition to other demographics and geographic information.

 

Industry Usage

There are many benefits to industry in being able to get the direct message from their customers. Watson Analytics for Social Media provides this fly on the wall perspective merged with a big picture view. Here’s a few examples of how businesses can make the most out of this advanced software:

Security and Risks – brand risks and community perspective are an important aspect of businesses even without a direct tie to consumers – such as those in oil and gas. Social Media advisors are expected to use social media to protect the company and overcome perception challenges. Watson Analytics for Social Media’s prebuilt visualizations and filters can highlight relevant content quickly providing immediate insights.

Hospitality industries can immediately benefit from social media analytics with understanding trends, being proactive about responding to customer opinions. More than this it is possible to respond to analysis results with supply management and staff scheduling. Tracking the market share is also highly relevant and helpful.

Retail industry can gather real-time feedback on styles, desires and service feedback. No longer will it take months of planning only to order the wrong colours or wrong products, the time frame is now immediate.

Product Owners need feedback on existing product features or feedback on proposed features. Competitive intelligence can also put a company at advantage. WASM can be used to prepare the sentiment analysis and user feedback that would take months to gather through surveys or other market analysis. With additional topics suggested by Watson Analytics for Social Media it’s possible to find what you weren’t even looking for as well.

Sales representatives – can easily understand the needs of their market and prospects and at the same time understand perceptions of their products versus their competition. All with almost no training.

Event planning of all sorts can be enhanced through social media analytics. Understanding potential response and demand will help you with supply chain decisions, staff requirements and other capacity requirements.

Universities and Higher Education facilities can better respond to student needs, feedback and actively market based on key influencers when the information is in your hands

Technology companies can understand outages and provide real-time insights that are simply invaluable.

Be that fly on the wall and understanding just what is thought of your brand – and understand how you can improve with new insights can be invaluable.

Ask us how you can get a free trial of Watson Analytics for Social Media and how we can help you understand the topics and themes necessary to analyze your business and provide immediate insights to reduce costs, increase revenue, save time, and reduce risks. Contact us at info@bowriversolutions.com or  (587)-885-1090.

Statistics for World Leaders

 

Torrent of Data…

Behavioral science shows that 40% of the decisions we make throughout a day aren’t really decisions — they’re habits. Yahoo’s CEO told Bloomberg News that her goal for Yahoo as a web destination was to make it a habit:
“I think that there’s a real opportunity to help guide people’s daily habits in terms of what content they read. That is something that we are really working on. All of these daily habits — news, sports, games, finance, search, mail, answers, groups — these are all things we have been underinvested in.”

Launched in 1994, Yahoo is one of the old dogs of the tech world. In 2012, former Googler Marissa Mayer came on as CEO, amid much fanfare and a few photo shoots. Beyond the publicity, she quickly executed several smart strategies that have shaken up Yahoo.

7 Brilliant Strategies Marissa Mayer Used To Shake Up Yahoo

 

Did you know…

Don’t believe people who say they work 60 hours a week.
People overstate the number of weekly hours they “usually” work by 5% to 10%, with those on the higher end being more likely to overestimate, according to a study le by John P. Robinson of the University of Maryland.

By examining US workers’ time diaries, the researchers found that people who say they usually work 55 to 64 hours per week are off by an average of about 10 hours; people who say they work 65 to 74 hours are overstating by about 20 hours.

Respondents may inflate their estimates because of a desire to appear industrious, the researchers suggest.

Stats & Curiosities from Harvard Business Review – Page 57

Statistics for Social Media Sharing…

80% Of Facebook’s Likes And Shares Come From Outside The U.S.
The Asia-Pacific and Western European regions accounted for the largest share of the clicks, claiming 21% each. Like and Share buttons are least popular in the Middle East, which only accounted for 3% of all engagement.

Here’s a breakdown of the stats:
Asia-Pacific accounted for 21% of impressions of Facebook’s Like and Share buttons
Latin America: 13%
U.S.: 20%
Western Europe: 21%
Central and Eastern Europe: 18%
Africa: 3%
Middle East: 2%
Canada: 3%

 

Smart Solutions…

Enterprise risk management is a critical differentiator that drives business performance and better outcomes. It helps protect your brand, provides a framework for implementing enterprise-wide governance policies, ensures regulatory compliance, and increases revenue through improved risk-aware decision making.

Fraudulent attacks grow increasingly more sophisticated. Using advanced customer screening, monitoring across channels in real-time for unusual behavior, and centralized case management for effective handling of detected events, you can:

Improve transaction integrity
Prevent sophisticated internal and external fraudulent activities
Ensure client trust

Managing financial risk effectively is vital to a bank’s success. Apply data modeling, predictive analytics, decision support tools and comprehensive reporting to better monitor, measure and manage market and credit risk exposure across multiple silos. You will enjoy improved liquidity, better capital management and decision-making consistent with business objectives and prudential norms.

 

Government…

The Canadian dollar capped its 5-year appreciation by achieving parity against the US dollar late in September. The increase accompanied higher commodity prices, notably records for oil and wheat, and a cut in US interest rates. The latter was motivated by the turmoil in financial markets that began in mid-August, and renewed weakness in the
US housing market

In Canada, however, there were few signs that the disruption in some financial markets (notably asset-backed commercial paper) was affecting the real economy. Most importantly, employment jumped 0.3% in September, helping to send the unemployment rate to a 31-year low of 5.9%. Higher commodity and stock market prices in September also pointed to the underlying strength of the economy

 We’re always happy to set up a conversation and discuss these points: helping with examples to show the value, realizing the need and potential gains and talking through how we’ve seen support grow. We can also discuss the overall vision with examples of how value has been delivered with many business intelligence projects. Send us an email at info@bowriversolutions.com or call us at  (587)-885-1090  for further information. We’re happy to meet with you at our Calgary office at 264 Midpark Way SE. or at your location in Calgary or western Canada.