Social media analytics is a dynamic tool with which you can gather information from various social media websites, blogs, forums etc and use this data to build an informed strategy to boost the digital presence of your business. What makes digital media even more important is the fact that today no business has remained unaffected by it. And this is precisely why the use of social media analytics has become all the more critical.
But the even more crucial question is how will you make use of the information gathered by this dynamic tool to your advantage? The main challenges when it comes to deciphering this data are:
1. The quantity of data
2. Unstructured nature of the data
3. Data quantification based on context
The quantity of data
Gathering data using social media analytics is an easy procedure, but due to its large quantity it is rather tough to decipher it easily. Whatever be the size of your business the amount of online discussion is huge and it is humanly impossible to sort through this data. Therefore it is recommended that you make use of software tools in order to sort out the data.
Unstructured nature of the data
This is yet another challenge of the analytical data. You need resources in order to classify the unstructured data into structured data and classify them into different types of inputs. This can be done by using computer intelligence for cataloguing the data into various groups.
Data quantification based on context
It is important that you quantify the data, but what is even more important is to quanitfy it based on the context in which that particular data has been received. Whether the data you received has a positive or a negative connotation, and in case it has a negative connotation then in what context is it so.
The influence which this data has is even more important. It is a known fact that some social networkers exert enormous influence in the sphere of social media. This is why you need to assign weightage to the comments of contributors who are highly influential.
These are some of the most common challenges faced by all those who use social media analytics data. Thankfully with the help of tools like text analytics it has become way easier to navigate through the huge, unstructured and complex data gatheres by the social media analytics.
Text analytics basically derives quantitive meaning from the written word. Based on the meaning gathered you can easily decipher the sentiments around your products. Based on this information you can make the needed changes, improvements in your products and boost its sale and image among your target audience.
This way social media analytics data can be used fruitfully in boosting the image of your businesse, products for on the digital platform as well as in the realtime market place. The only thing which you need to keep in mind while employing social media analytics is that you stick to a well-defined goal and build your strategy around it.