Dearly beloved... let's hope it lasts. Now that we all know what Social Media is, how to use it, and what impact it has had, it's time to see where it will go, and how it will affect other metrics of business. One particular metric that seems to feed off social media is Business Intelligence. Growth in Social Media has surged, but there remains a need to correlate the information generated through social data and exiting consumer information, and integrate it with sophisticated management systems [Source: Oracle].
If done correctly, integrating social media analysis and BI gets you immediate insight into web activities that have an impact on business
-Roland Hoelscher, Arcplan President and CEO
It's fair to say that right now the Communications & Marketing Industries are going through some of the most incredible and dramatic transformations in decades. However, there still remains some apprehensive laggards in this process. People hold back from eliciting corporate participation and engagement for a number of reasons: fear, disbelief, misinterpretation, underestimating lack of ROI & Metrics, or a combination of all of these. These kinds of Marketers don't move quickly and are inherently resistant to change-even though the entire media landscape is already transforming radically right before us.
Measuring every possible metric creates an overload of data, making it nearly impossible to act on anything. Companies need to determine the most important factors to their strategy and start from there. In the long run, how will companies leverage Social Media Marketing Tools?
One for the future could be Transformative Analytics. In the article aforementioned, written by Nan Dawkins, TA will require a combination of data from sources beyond social media channels, such as corporate or third party channels. As well as this, we will need a better understanding of people if we wish to get better at Social Media Marketing. Privacy seems to the talking point here, and the question remains how much people are willing to share over social media. Improved visualization and more flexibility with customer's queries will be some of the advantages of working better with data. Tools can be more useful in emphasizing data and pattern discovery, rather than just emphasizing data confirmation.
Ultimately the challenge will be developing actionable insights into data of ever-increasing volume, diversity and complexity.