Social data is usually big data, because we're talking about masses of data collected from social media. However it's not big data that makes social analytics distinctive, rather it is the ability to derive required insights from such unstructured data. In short: it's not just about the amount of data you have. It's about understanding what that data is trying to tell you - and revealing non-obvious factors which influence that understanding.
The six magic words of social media success for those who don't yet get what social is all about.
Statistics gathered by Social Media Australia show growth in social media usage plateauing – although there are some surprises in the lower rankings.
Typically customers fall into three broad buckets of maturity in their interest and use of social media monitoring tools. This maturity starts with (1) measuring activity, moves through (2) context analysis and then on to (3) Influencer identification.
Managing business social media accounts involves a certain amount of "knowledgeable engagement" and a certain amount of routine administration and support. Effectively organising the latter helps boost the bang-for-the-buck for Marketing.
If you are active on Twitter you will have experienced being followed by spam accounts. These vast networks of spammers also appear when undertaking social data analysis (as we do as a core part of our business). In the search for who is influencing whom, for the key topics of conversation, and for who is connected to whom, the large spam networks pollute and distort the results. Applying data science allows us to eliminate their influence.
At KINSHIP we are excited and proud to see our client and friends at the Bank for Investment and Development of Vietnam (BIDV) yesterday officially launch the first Social Media Command Centre in Vietnam. This was a great achievement by the BIDV SMCC Project Team as they not only developed and implemented a whole new content strategy for the bank and implemented complex locally-developed monitoring software but they also designed and project managed the physical SMCC construction and fit-out, and developed a fantastic promotional launch video (see below). All this in about 10 weeks!
The release of the Australian Prime Minister's Innovation Statement yesterday caused a burst of optimistic excitement in social media, and it's still on a roll.