Social Media Analytics - Explained

Social media analytics combines traditional business data with social media data in meaningful ways results in analytics innovation. For example, if a buyer in a major retail chain, does not fully understand the optimal time to stock soccer merchandise in key cities across Asia. He or She can turn to the social data streams, to see when people in the store locales are tweeting or posting about soccer or their favourite teams. Monitoring social media helps businesses find breakout products. Social media data is found data, and provides business and governments with an ability to observe naturally occurring conversations in message boards online, social networks and blogs to get answers about their key demographics. Data mining the social media streams of such large numbers of passive participants in natural settings, helps bring to bear the expertise, technologies, and solutions  of the next generation recommender systems. These systems build on big data psychology and mental heuristics to help consumers overcome the tsunami of information.

Reference: http://www.analytics.uts.edu.au/

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