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Why It Is Important For Business Managers To Understand and Mine Social Media Data?

Understanding and mining social media data is crucial for business managers as it helps in decision-making, increasing brand loyalty, and generating leads. Social media analytics differs from traditional business analytics by focusing on semi-structured and unstructured data from social platforms, while traditional analytics relies on structured historical data. The social media analytics cycle involves collecting, analyzing, and interpreting various layers of social media data, including text, networks, actions, mobile, hyperlinks, location, and search engines to derive valuable business insights.

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Ran Sirf
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7 views3 pages

Why It Is Important For Business Managers To Understand and Mine Social Media Data?

Understanding and mining social media data is crucial for business managers as it helps in decision-making, increasing brand loyalty, and generating leads. Social media analytics differs from traditional business analytics by focusing on semi-structured and unstructured data from social platforms, while traditional analytics relies on structured historical data. The social media analytics cycle involves collecting, analyzing, and interpreting various layers of social media data, including text, networks, actions, mobile, hyperlinks, location, and search engines to derive valuable business insights.

Uploaded by

Ran Sirf
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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1.

​ Why it is important for business managers to understand and


mine social media data?

2.​ What is social media analytics, and how it is different from


traditional business analytics?
1.​ Social media analytics is the process of extracting valuable insights from social
media data to perform decision making.

2.​ By analyzing social media data, businesses can increase brand loyalty, generate
leads, drive traffic, and make forecasts.

3.​ Social media analytics can also be used to increase awareness of a brand and
drive users to a website for the latest news and information.

The main difference between social media analytics and traditional business analytics is the
source, type, and nature of the data being mined.

Social media analytics involves the collection, analysis, and interpretation of semistructured and
unstructured social media data, while traditional business analytics uses structured and
historical data.

Social media data is diverse, high volume, real-time, and stored in third-party databases in
semistructured and unstructured formats, while traditional business data is mostly stored
in databases and spreadsheets in machine-readable format.
Social media data is socialized in nature and originates from the public internet, while traditional
Business data is bureaucratic and formal in nature and is controlled by organizations.

The value of social media data is determined by the extent to which it is shared with other social
entities, while the value of traditional business data is often confined within organizational
databases and serves as a source of competitive advantage.

3.​ Briefly explain the seven layers of social media data. Support
your answer with examples

Social media has a minimum of seven layers of data (Figure 2).

Each layer carries potentially valuable information and insights that can be
harvested for business intelligence purposes.

Out of the seven layers, some are visible or easily identifiable (e.g., text and actions)
and other are invisible (e.g., social media and hyperlink networks).

The following are seven social media layers

1.​Text

2.​Networks

3.​Actions

4.​Hyperlinks

5.​Mobile

6.​Location

7.​Search engines

1.​ Text: This includes the content of social media posts, such as comments,
tweets, blog posts, and Facebook status updates. It is used to understand user
sentiments and
identify emerging themes and topics.

2.​ Networks: This includes the connections between users and the
relationships between
them, such as followers and friends on social media. It is used to identify influential
nodes (people and organizations) and their position in the network.

3.​ Actions: This includes the actions taken by users on social media, such as
likes, comments, shares, and other interactions. It is used to measure popularity,
influence, and prediction in social media.

4.​ Mobile: This includes data related to the use of social media on mobile devices,
such as the type of device used, the operating system, and the location of the user. It is
used to measure and optimize user engagement with mobile applications.

5.​ Hyperlinks: This includes the links between social media posts and other
websites, as well as the content of those linked websites. It is used to reveal Internet
traffic patterns and sources of incoming or outgoing traffic.

6.​Location: This includes data on the geographical location of users and the
location-specific content they engage with on social media. It is used to mine and map
the locations of social media users, content, and data.

7.​ Search engines: This includes data on how users find and access social media
content through search engines, as well as the keywords they use in their searches. It is
used to analyze historical search data for trends analysis, keyword monitoring, and
advertisement history.

4.​Explain the social media analytics cycle.

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