The Value of Big Data from Social Media
Big data is a crucial piece of the pie when it comes to social business intelligence. When companies utilize big data, they are able to receive quick, insightful information that can inform their businessâs processes, speed up response times, and engage customers. Some companies think that by counting likes, shares, and tweets, they are getting the information they need from social media. Unfortunately, this is only one portion of the data available for harvesting. By digging a bit deeper, they can truly gain value from analytics.
 Going Beyond the Basics
Instead of just skimming the basics on social media, a company that delves in a bit further can gain valuable information. The correct data can shine the light on market needs, new trends, and customer intelligence. By tapping into real-time data, feedback about brand reputation, customersâ experiences, and storesâ performances can be revealed.
 Making Predictions
With the right data, companies can predict what customers want. This is because social media reveals individual likes, dislikes, tastes, and desires. By taking note of posts shared and pages liked, an observer can more fully understand each customer. Cookie-based retargeting practices can position ads in front of the audiences most likely to buy.
 Responding Immediately
Because social-media buzz happens in real time, companies can see what customers are saying about products, services, and ad campaigns with each and every post. By analyzing satisfaction and dissatisfaction levels, businesses can respond appropriately to fix problems before they get out of hand or give customers more of what they want.
 Easing Pain Points
When organizations track big data, they can see where complaints are occurring and find solutions before they lose customers. When tweets and posts are monitored, pain-point patterns emerge and can be corrected right away.
 Understanding the 4 Vs of Big Data
There are four Vs that companies need to pay attention to in big data: volume, variety, velocity, and veracity. Volume is referring to the scale of the data. Variety is talking about dataâs different forms. Velocity means analyzing streaming data, and veracity focuses on the uncertainty factors involved.
 To leverage social media effectively, organizations need to proactively access all the information at their fingertips. By monitoring and responding to the real-time data available, businesses can provide the right products and communication to their customers.

















