If you are trying to understand how corporate social media interacts with your organization, you need to give a lot of thought about the types of data being generated in your marketplace.
Many corporations suffer from an inability to ‘connect the dots’ between social media buzz and business revenue drivers.
They usually focus on areas of ego driven competition to earn the most fans, engage in the most conversations, or earn fifteen minutes of product fame.
The truth of the matter…
Is that social media creates an insane amount of extremely valuable consumer data.
It can tell you:
- Where people engage
- Why they engage
- What competitors are engaged with
A Match Made in Heaven
If social data is valuable, a proper match with your proprietary business data creates a priceless differentiator.
By creating mixtures of social data and proprietary data, you create an asset that is yours (and yours only.)
Some types of proprietary data you should think about:
- Customer lists
- Purchase behaviors
- Internal team communication
- Local office information
- Trade show and event attendees
As you think about these items, read these articles…
- BarryHurd- Facebook – Big Data – Our Privacy
- ZD Net – Web Data is Big Data
- NY Times – Big Data troves stay forbidden to social scientist
- ComputerWorld – VC Funds pour into Big Data vendors
- Fast Co Design – How Companies like Amazon use big data to make you love them
- InfoWorld – Big Data in the Cloud, Its time to Experiment
- WSJ – What They Know