Socialytics = Social + Big Data + Analytics [Webinar]
Sandy Carter, VP at IBM in Social Business Evangelism, joined SayItSocial this week in its latest edition of its Live Webinar Series to talk about the importance of Socialytics today. This newly coined term combines Social with Big Data and Analytics, establishing itself as a fundamental tool for any company to leverage in its business processes. If you missed Sandy’s webinar, a video of the presentation can be viewed here.
Starting off by stating that 66% of top performing companies leverage social in their business processes, Social by itself is not nearly as powerfulas it is when combined with Big Data and Analytics – Socialytics. Sandy has formulated a list of the 5 ways convergence matters in today’s corporate world:
5. The Power of Social Sharing information: Expertise and Trust
Today it is no longer who knows the most but rather who shares the most. Understanding this, it is, therefore, imperative to validate your sources. Providing an example of a nifty new app, a list of experts are associated to a certain subject along with customer reviews, ratings and certifications – A recent study showed that 79% of us now trust an online review just as much as a personal recommendation. Social is now an environment affecting our preferences.
4. Value will be Created, not for “Market Segments” or Demographics, but for Individuals.
Social allows for marketers to formulate value on a micro-niche level. Using analytics and social, products can be targeted and influenced on an individual basis. A recent craze amongst retailers in Asia allows customers to view how many of their friends ‘like’ a certain piece of clothing by entering their Facebook ID into the hanger! The customer can hence judge the product by how popular it will be between their friends.
3. Innovation is Becoming Part of Corporate Culture: Predictive Capabilities and Ideation
Using Data and Analytics helps forecast future trends. When combined with social, innovation is augmented, helping towards a company’s newest business offerings while tailoring to the individual’s preferences.
2. Social Networks are The New Production Line
The production line changed the game in the manufacturing line – social is doing precisely the same on the basis that Social is now embedded into a company’s entire business process: Customer Service, Marketing, Recruiting and even Product Development. A recent 2013 survey found that 77% of companies are using social media to recruit employees – who doesn’t have a LinkedIn profile anyway?
1. Results Require Leadership – “Culture Eats Strategy For Lunch”
Culture is essential for a business place, which starts at the top. It is said that Social doesn’t transform a culture but rather reveals it. A leader instills these tendencies from the beginning to the business, which provides a foundation for innovative practices, which importantly incorporate Socialytics.
Take a look at the conversation going on before, during and after Sandy’s Webinar!
— Twist IMC (@TwistIMC) August 22, 2013
— Martijn Roelandse (@mathein) August 22, 2013
— Sandy Guerriere (@SandyGuerriere) August 22, 2013