Social Media Analytics
Social Media Analytics is the practice of gathering data from blogs and social media websites and analyzing that data to make business decisions. The most common use of social media analytics is to mine customer sentiment in order to support marketing and customer service activities.
Social Media Analytics initiative can help to increase revenues, reducing customer service costs, getting feedback on products and services and improving public opinion of a particular product or business division.Once the business goals have been identified, key performance indicators (KPIs) for objectively evaluating the data should be defined. For example, customer engagement might be measured by the numbers of followers for a Twitter account and numbers of retweets and mentions of a company’s name.