Business Intelligence for Social Media

If you are an enterprise and you have not yet have figured out what to analyze from Social media then here is something that you need to look at. Taking the Social Media route for an enterprise has to have its set of goals, any investment certainly has to have a prerequisite over how and what ROI they need. Here in the case of Social Media implementations; the industry at large is still coping with newer definitions and newer trends, hence the entire stack of Social Media is still evolving. When it comes to enterprises we have seen in the earlier article on how we go about structuring an scenario driven adoption to derive the highest ROI. The use cases or scenarios of adoption for maximum ROI is focussed on investing into Social Media as a platform to empower and pursue higher returns over traditional channels of engagement or business functions, i.e., Marketing, Sales, Services, Support, etc.,

Every adoption of the Social Media platform revolves around key goals, as in my illustration as below.

Social Media Goals & Measures - A Framework 

The key is to first identify the components or parameters that will help us 'Quantify and Qualify' the road to realizing the set goals for every scenario. The above framework briefly depicts the goals, measures, governance, practices over the platform.

Any Intelligence is arrived at only after the a process of Data ETL, Data Analytics based on rule engines. The typical process involves getting sourced data, categorizing and aligning them per the business rule and deriving analysis out of it. Here in a scenario driven and use case specific Social media we need to 'Define' the objects that we need to 'measure'.

What do you Measure?
You want to measure the impact of deploying social media over Sales & Marketing over Social channels, Customer Satisfaction for Community Support using Social channels, Plain vanilla support queries and response measurements driving higher CSAT, Marketing operational expenditure reduction while increasing funnel, Creating channels for revenues for other services / solutions, Brand value appreciation measurements, Networking and connectivity across target user base with measurements for influence - virality - funnel expansions, etc.,

Social Media Business Intelligence - Goals
The analytics that are framed and inferenced drawn are to enable and assit the organization in 1. Performing critical and key decision support, 2. Increase subscriptions, userbase, influence and brand awareness, 3. Generate content and collaterals by crowd sourcing, drive community collaboration, 4. Traditional business process channels 'Operational Expenditure' optimization, 5. Increasing revenue and conversion funnels.

The Process Drivers
The entire process of defining, measuring, analyzing, create intelligence in this particularly dynamic use case is to have a strong governance and adoption of industry best practices and processes. The core set of process are in the illustration.

Products 
Products that assist in framing a BI, please refer my earlier post.


Jesu Valiant - 2011