Social Media Analytics: Advent Of Big Data And Artificial Intelligence To Disrupt The Industry

In today’s world, everything is interconnected over the internet. With the increasing popularity of the Internet of Things (IoT), it has become easier to collect and analyze the data gathered from multiple social media websites.

Social media analytics is a tool to classify which social sites direct the majority of traffic to your website and offer a clear picture of the source. The tool collects, measures, and analyzes data and feedback regarding your company from social media sites and blogs to help you make informed, intelligent decisions to meet your goals.

However, social media analytics is of no use if it is not accurate. Thus, the major market players in the social media analytics industry have invested a huge pile of money to offer accurate and reliable tools for social media analysis. According to Allied Market Research, the social media analytics market is expected to reach $9.38 billion by 2022. That’s because of rise in number of social media users, increase in cloud adoption in SMEs.

Social media analytics and big data

Social media analytics has stepped into a new era with the advent of big data and artificial intelligence (AI). The amount of data collected from various social media platforms has increased significantly and it can be overwhelming to analyze such a colossal amount of data for insights that lead to better decision making. This is where big data comes into the picture. Big data helps understand the behavioral and purchasing patterns of customers better than humans. In addition, it can predict the success of a marketing campaign before its launch and help prevent any mistakes that could affect the final analysis of the outcomes.

With the use of predictive analytical tools, marketing campaigns can be modified, paused to prevent the loss, and make wiser business decisions. In addition, companies can understand the peak timing of their target customers, their behaviors, preferences with the help of data visualization. This could skyrocket the overall effectiveness of a campaign.

Social media analytics and artificial intelligence

AI and machine learning have disrupted the social media analytics industry. Machine learning algorithms automatically identify structures of a website. AI in social media analytics helps get more significant results with the high-speed framework and without demanding technical expertise. AI can effectively handle the data collected from various social media platforms and monitor and identify the structure of websites toward identifying vital data automatically.

Apart from this, AI helps in image recognition for viewing your brand’s position to monitor visual brand mentions, social images as opposed to popular brands in the market. This allows you to become more aware of all visual mentions of your brands on blogs, news sites, and social networks. Furthermore, AI in social media analytics offers sentiment analysis, which helps in reputation management using natural language processing. It simply decodes human emotions such as sarcasm and mockery into concrete-measurable metrics that can affect your business. This helps you understand what your target audience thinks about your services in real-time and helps you become aware of possible concerns.

Social media analytics has been replacing market research methods. It is faster, more accurate, inexpensive, and less prone to social desirability bias. As consumers speak their own minds and convey their needs directly to the brands about the things that matter the most. With the integration of AI and big data, social media analytics is bound to offer lucrative opportunities in the future. Thus, more and more brands are willing to spend a majority share of their marketing budgets on social media analytics, and in the coming years, social media analytics would play a much bigger role in product designs and launches for sure.

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