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.
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.
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.
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.
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 firstname.lastname@example.org or (587)-885-1090.