Social Media Analytics is the process of gathering data from stakeholder conversations on digital media and processing into structured insights leading to more information driven business decisions and increased customer centrality for brands and businesses.
Social media analytics can also be referred as social media listening, social media monitoring or social media intelligence. It is a term covered by Social Analytics.
Digital media sources for social media analytics include social media channels, blogs, forums, image sharing sites, video sharing sites, aggregators, classifieds, complaints, Q&A, reviews, Wikipedia and others.
Social media analytics is an industry agnostic practice and is commonly used in different approaches on business decisions, marketing, customer service, reputation management, sales and others. There is an array of tools that offers the social media analysis, varying from the level of business requirement. Logic behind algorithms that are designed for these tools is selection, Data pre-processing, transformation, mining and hidden pattern evaluation.
In order to make the complete process of social media analysis a success it is important that key performance indicators (KPIs) for objectively evaluating the data is defined.
Social media analytics is important in today social space era, where one need to understand the patterns that are hidden in large amount of social data related to particular brands.
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