Posts tagged ‘social media analytics’
While the tech and real (by that, I mean everyone else) world has been focused on mobile and location tracking this week (see my previous post which came out the day before the big iPhone location file reveal—I just had to say it), I am afraid some interesting analytics news and a certain story about TweetDeck may have been missed amidst all the noise. So in case you missed them, here are some analytics links you might want to visit:
- Look out CIOs as analytics are taking over your company! Marriott is using analytics to personalize its room pricing model (as in don’t use the mini-bar, pay a higher room rate), Progressive Insurance is analyzing peoples’ credit scores to determine who to insure (as in good credit scores mean good insurance risks), and Harrah’s wants to know the best way to personally incent you to come back to their casinos (as in which works better, a free room or a $50 in chips).
- Watch out delinquent New York state tax payers as this state has embraced analytics in a big way. Using analytics the state was able to recover “$83 million in delinquent taxes—an 8% increase from 2009 and double the annual increase from previous years.”
- Social analytics may have started in the PR world, but it has, of course, gone mainstream. Per the embedded video in this post, companies must first understand their objectives, identify the metrics that will determine success, and then ensure that there are mechanisms in place to track those metrics whether they are working with an agency or doing it themselves.
- Did you know that YouTube has finally given its partners some useful analytics? You used to have to figure this “stuff” out yourself by culling through the downloadable spreadsheets but they now offer a number of reports that will make life much easier for any YouTube partner.
And now a final word on my favorite Twitter dashboard, TweetDeck (a plug and a plea as they really need to make the font size customizable so I won’t have to buy a magnifying glass to read my Twitter feeds). If you were worried that Twitter’s possible acquisition of TweetDeck could mean the end of TweetDeck as we know it, think again! TechCrunch does a great job analyzing what could happen should UberMedia or Twitter acquire TweetDeck and why it’s very good to be TweetDeck!
That’s it for now. Next week we have some news to share about something we’ve been working on for a while (can you say Social Media Analytics) so keep us on your radar screen!
As I mentioned in a previous post, we are working on a vertical solution for Social Media Analytics. I chatted with a few folks yesterday over lunch who posited that the recent acquisition of Radian6 (R6) by Salesforce.com (a good post on the acquisition by Susan Etlinger can be found here) meant that opportunities for a social media analytics product had passed. I thought this discussion was interesting enough for a post. But before I begin, my congratulations to the folks at R6 on a great exit and on being acquired by such a great company.
I think the best way to think about the current state of Social Media Analytics is to look at the history of brick and mortar retail. In any industry, it is initially very difficult to communicate with, and learn from, important external entities, be they suppliers or customers. The communication typically starts as a manual process and as the relationship becomes better understood, you then move on to automation, storing key interactions in some sort of digital system (such as a database, data store, or data warehouse). Over time, as the ecosystem gets more sophisticated, the signals (red cell phones are selling, inventory is continually low in the Southeast, Retailer X always pays late) become richer, more varied, and frequent. Automation then speeds up the pace of business and those important or missing parts of the signal become visible. For example, in traditional retail, we went from manual PO’s, to faxes, to fully automated Supply Chain Management with EDI, and continue to enrich the signal between retailers and consumers with technologies like near field communication (NFC) that enables things like mobile payments, mobile ticketing, and smart posters. (more…)