Adding the might of social media to your analytics engine Presented by Priya Venkataraman, Senior Director Consulting and Analytics

a company

www.empowerresearch.com

Adding the might of social media to your
analytics engine

Priya Venkataraman
Senior Director Consulting and Analytics
vpriya@empowerresearch.com

1
EmPower Research LLC, a Genpact company Listen. Learn. EmPower Listen. Learn. EmPower 1
All Rights Reserved.

2005 130

We are drowning in

Vo l um e o f G l o b a l D a t a i n E xa b y t e s
a sea of data
2720 2012

2015
7910
2
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But it’s not just the volume of data we are dealing with...

1 2 3 4

Volume of Velocity of Variety of Value
data data data from data

Decision-makers are seeking value from the myriad of
data that enterprise systems are capturing
3
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The advent of social media: volumes, velocity and variety leading
to greater value for businesses

66% 14% 21% 31%

Of those online now use 14% either publish a blog/ web 21% post ratings or 31% post updates on
social media page or upload videos comments in forums social sites

HOW MANY INTERNET USERS TURN TO SOCIAL REGULARLY TURN TO SOCIAL MEDIA
MEDIA WHEN MAKING PURCHASES SOMETIMES TURN TO SOCIAL MEDIA

Travel Financial Eating Clothes or Mobile Groceries or Personal
Services Services Out Fashion Phones Food Care
4% & 24% 4% & 10% 3% & 21% 4% & 23% 2% & 21% 2% & 15% 3% & 15%

$$
Sources: www.sanfranciscosentinel.com, wwwblogs.forrester.com, Knowledge Networks
4

Various functions in an organization can leverage social media
data stream for improved analytics and better insights

Public Relations
Market
Market Research

Engage Listen

Learn

Brand Teams
Regulatory Bodies
R&D

5

Organizations are waking up to the velocity, variety and value of
insights possible from this data stream: example 1

According to a study
conducted by scientists
from Indiana University
and the University of
Manchester, social
media has an 86.7%
accuracy rate at
predicting the stock
market

Sentiment of companies
$$
on Twitter closely
follows market Twitter Lead
movements. Also shows Trends Indicator
positive correlation
between trading volume
and message volume
on Twitter
Sprenger and Welpe (2010)

6


A leading data Sales alerts Service
products company alerts
(B2B) uses social
media for
Identifying
opportunities of sales,
engagement and
service improvements
Engagement alerts

Impact
30 alerts every
month leading to Determine
annual sales  Pain areas related to customer services

ENABLE ACTION
pipeline of over  The most important product attributes for
$12 million exceeding end user expectations
Develop
 Strategies that address enduring customer
service needs and expectations

7


A global leader in Increase in Awareness Sentiment
confectionary
products wanted to
identify the impact of
negativity / Negative
Sentiment
sentiments on overall
brand loyalty
Week 1 Week 2 Week 3 Week 4

Impact
Predictive models to First timers
Loyalist
measure impact of
negativity on
loyalists
Switchers

8

Combining social media with existing data and analytics can
provide insights in near real-time for improved decisions

Internal Data External Data

E-mails Surveys Call Records Social Media

INSIGHTS
• Leverage the knowledge held,
Data created, shared by stakeholders
Analysis
• Foster insights and innovation
for competitive advantage by
analyzing existing data
Data Human • Identification and Analysis of
Modeling Analytics data parameters which impact
the industry

Data Transformation • Normalizing parameters across
Reports, Regions and
Convert Unstructured Information To Structured Categories
Data

9

Social media can be applied to a variety of business problems,
enabling better analytics and better decisions

Sales Alerts Brand Tracking

Event or
Sales Trends Campaign
Measurement

Corporate
Competitive
Reputation Customer Service
Intelligence
Analysis Alerts

Category Level Influencer
Insights Identification

Opportunity
Landscape Customer Emerging Trend
Analysis Segmentation Identification

C-SAT and Loyalty Purchase Intent
Tracking Measurement

10

Case study 1

11

About the client and
their business
problem
Our Client
A global leader in credit cards

Business The client wanted to understand a holistic net promoter score across
Problem countries which included disparate new and existing data sources

12

Our approach to integrating social media insights with existing
data sources and analytics frameworks

Data source Systems Output measures Outcome

Social Media
NPS
Unstructured

System 1 Indicative drivers
Responsiveness

System 2 Performance Empathy
Emails
measures (Top
Reliability
box excellence)
System 3 Respect
Call Records Satisfaction Security
System 4
measures (CSI)
Structured

Surveys
EmPower Media Competitor Competitor
Interactive Dashboard Insights
Feedback

Co-relate sentiment, advocacy, loyalty and influence in real-time to
directional NPS

13

Business Outcomes
Product attributes that
Client Competitor impact customer
experience were brought
into focus, reorienting
33% Unhappy about resources from non-
Service verification
59% charges performing ones

Competitive benchmark of
26% Safe transactions 1
product attributes
Security won customer
58% confidence Identification of customer
2
satisfaction drivers in real-time
premium cards
30%
Respect provided were
48% admired

Sentiments (%)
14

Case study 2

15

their business
problem
Our Client
A leading venture capital firm

Business While comprehensive CRM solutions existed on profiling target
Problem portfolios and prospect companies, the existing solutions lacked ability
to integrate real-time data on sentiments, trends, perceptions etc.

16

Our approach to integrate real-time insights into CRM

Data Pull from the Sites into Salesforce done real-time; optimized
to filter noise; and produce customized profiles for client

Salesforce Connector
Content Mining
Filtering

Semantic Analysis Company
NLP Profiling
Machine Learning
Client
Salesforce
Influential sources

1 SMMART 2 Crawling 3 Seamless
Building Learning Engine Integration
blocks of white-list sources, comprehensive A 2 way seamless
our solution keyword hierarchy crawling from a wide integration
and service bureau variety of sources interface
SMMART: Social Media Multi-Attribute Rating Tool
17

Business Outcomes
A system that enables
investment professionals
Sectoral Viral news Executive hire / with comprehensive social
trends fire updates media insights on their
Performance target companies
updates Perception of
between results management Near-term value
Velocity of actionable insights
being integrated in their CRM in
Customer near- real time mode
Sentiment
trending satisfaction
Long-term value
Scalability across different media
Stakeholder New product or types, languages, user groups,
perception on innovation target companies
performance

18

Case study 3

19

their business
problem
Our Client
World leader in pharmaceutical products

Business Existing databases captured point of sales and promotional data but
Problem there was not qualitative input which explained sales fluctuations or
business impact of competitor initiatives

20

Our approach

S t a r t i ng Hyp o t h e s i s Marketing efforts, product features and competitor actions drive sales

IMS Data Social Media
IMS Data
(Lag) Data (Lead)

Sentiment
Medical Data

Awareness

Sales

Share of
Voice
Promo Data Perception Sentiment

21

Business Outcomes
Negative discussions seen on
Competitor_X side effects  Social media integrated
influenced sales in a poitive way with IMS data to explore
Patients felt better and SALES
correlations between drug
well after using KPIs and drug’s sales
Competitor_Y
performance

SALES Ability to predict and positively
1
influence sales pipelines

Real time insights on strategy
2
Mon 1 Mon 2 Mon 3 Mon 4 Mon 5 Mon 6 Mon 7 and tactics
Competitor_X Negative Competitor_Y Conversations

o Competitor_X’s negative tonality increased sales
o Competitor_Y’s conversations affected sales performance in a
negative way

22

In conclusion…

Social media has become a key source of unsolicited opinions of
stakeholder which cannot be ignored

Integrating social media with your existing systems can help you
understand the ‘why’ of existing business challenges

Social media can add more horsepower to your existing analytics engine
with near real time insights

23

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Disclaimer: The data presented in this presentation is collected
from publically available resources. EmPower Research doesn’t
EmPower Research Knowledge Services Pvt. Ltd. take any responsibility on the authenticity of the data disclosed
Ozone Manay Tech Park in this presentation and outcomes of decisions taken based on
3rd floor, Block B such data by the recipient of this presentation.
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Tel : +91 80 4020 5300
24
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