Idle Chatter or Valuable Insight?
When analysing business performance, we have tended to look internally - at data collected in our operational systems and data warehouses. We have drilled down and across into successive layers of detail to find the underlying causes of performance anomalies.
But analysing your own data can only take you so far – for example if sales of a product in your stores are down, is that because of stock availability or is it simply that customers do not like it, or find it too expensive? It is the latter questions that are more likely to have answers in social media.
Ultimately, consumers dictate the reputation of your brands. And that means that they have a direct impact on your financial performance.
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If you can understand what they are saying about you - be it on Twitter, Facebook, blogs, online forums and many, many other places - then you can do something about it.
PRODUCT INFORMATION: WATSON ANALYTICS FOR SOCIAL MEDIA
This image is one of many analyses included in Watson Analytics for Social Media. It shows the relative number of mentions on social media for each of 10 airlines, broken down by themes such as customer service, flight cancellations, delays and so on.