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August - 2015 issue

The Power of Social Media and Business Intelligence

By CR Team

Social Media and Business Intelligence have now become inseparable, allowing organizations to market and advertise their services or goods more effectively and efficiently. As customers freely talk about their preferences and what they are interested in, it makes it a goldmine of data. Top IT vendors such as Microsoft, IBM, Oracle and SMEs are fully committed to retaining a presence in it as information about their consumer trends, pricing, sentiments and requirements are now directly available to customers and without depending on third party vendors.

Along with Business Intelligence and Social Media Integration, there is also a great degree of inter-relatedness in Marketing strategy and CRM. It is because Customer Relationship Management (CRM) focuses on service, retention, sales and regeneration. In addition, top metrics which are driving the industry development are consumer trends, consumer opinions, ratings, desires for improvement, location, density of commodities and degree of involvement in the product. To derive useful insights from these sources, relevant BI tools such as IBM Cognos, SAS, Webfocus, MicroStrategy, Oracle Hyperion and SAP Netweaver are being used by organizations in the market to forecast and predict future trends and understand customer behavior. Without these, it is difficult to justify the efforts and investments of internet marketing, social media marketing and pay-per-click marketing campaigns. Among the key technology trends for the near future, BI stands out as a real powerhouse for ROI, as it enables a wealth of reporting, discovery and knowledge that can reveal data to create a powerful impact on decision making for government as well as non-governmental organizations.