social media and the analytics opportunity frank cotignola (@fco24) march 13, 2013
TRANSCRIPT
Social Media and the Analytics Opportunity
Frank Cotignola (@fco24)March 13, 2013
Agenda
• Data mining for social sites• Social media listening (platforms, text
analytics/sentiment analysis)• Social media data as big data component
“The same digital and social data that are revolutionizing ad targeting and relationship building offer us researchers the opportunity of a lifetime.
It is the chance to make the bemoaning go away…
that we are too slow, that our findings aren’t actionable, and that we are genetically modified versions of accountants who don’t get what the business is about.”
Joel Rubinson
http://goo.gl/yxUES
Data mining for social sites
What is “social media listening?”
Understanding Consumers Via:
1. Social Media Conversations
2. Search Behavior
3. Integration With Other Data
How can this uncover opportunities?
By going beyond brands and typical dig sites
Can we understand consumer needs without asking consumers?
“Pick me up” eating occasions
Energy drinks describe “pick me up” and “wake me up” (and negatively)
Time of day also important
99,510 mentions
68,340 mentions
423,750 mentions
4,223,452 Mentions
NetBase December 18, 2012
Mentions Likes/Dislikes
Taste is polarizing
NetBase December 18, 2012
Likes Dislikes
Facebook and Twitter far outweigh other domains people are using to talk about “Pick Me Up”
1426668; 53%
919603; 34%
65555; 2%
50275; 2%
37661; 1%
35653; 1%
32777; 1%
28073; 1%
22770; 1%
21392; 1% 17317; 1% 16029; 1%
15130; 1%
14561; 1%
13212; 0%
Top 10 Domains
facebook.com
twitter.com
community.babycenter.com
weightwatchers.com
forum.bodybuilding.com
gaiaonline.com
community.thebump.com
reddit.com
blurty.com
myfitnesspal.com
tripadvisor.com
cafemom.com
answers.yahoo.com
formspring.me
anddev.org
NetBase December 18, 2012
FB
Conversations are morning/food dominated
NetBase December 18, 2012
Hashtags/what to solve?
Social Media Listening (Platforms, Text Analytics, Sentiment Analysis)
What is your goal?
Tracking?
Insights?
Brand Reputation?
BI?Because We’re Supposed To?
Managed Internally?Use Agency?
Mentions?
Sentiment?
Measure Influence?
Different goals require different
solutions
Things to consider
• Interested in tracking mentions, sentiment, engagement, etc., most large services work well– Cost, deployment a consideration– Free tools?
• If true BI and insights are your goal, you need to go beyond mentions and sentiment
• How to integrate with more traditional insights?
• Starting or ending point?
20
Barriers
Not What I’m Used To
No Time
Too Much to Read
Not My Consumers
Missing Demographics
Not Representative
Flavors
What Flavors are being talked about?
Source: Tracx 30 days ending 2-19-13
Mint
Blogs dominate flavor conversations
Source: Tracx 30 days ending 2-19-13
Mint also dominates search
Source: Google Trends Through 2-19-13
Sentiment mostly neutral, although some strong negatives/positives
Source: Tracx 30 days ending 2-19-13
Focus on Parmesan, Basil conversationsingredient, cooking focus
Source: Tracx 30 days ending 2-19-13
Social media as big data
component
The “Big Data” RealityWe still live in a world of small data
• Use of tools hasn’t caught up to the promise (world of Excel)
• Can’t put my finger on all the data we have– Big data confused with knowledge management
• What are the common elements?• How do we integrate?• “How is this different from what I am
doing already?”
What’s typically done:Overlay conversations onto sales data
Does this tell us anything?
Net Sentiment
# Of Comments
Source: NetBase
Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12
Brand A Dollar Sales 2011-2012
What’s possible
http://goo.gl/hIrTs
http://www.sickweather.com/
Forecasting the Economy
“Destroy”Positive vs. negative behaviors about the economy
Source: NetBase 52 Weeks Ending September 1, 2012
Sentiment about the economy grew more positive in Q4 (but still overall negative)
Top Sources of Buzz
34Source: NetBase January 3, 2013,
“Strong” and “Weak” dominated (but not “destroyed”)
Source: NetBase January 3, 2013, 35
“Government” dominates (expected after election) but still focus on “jobs” and “taxes”
36Source: NetBase January 3, 2013,
IN THE END…
• Social Media Can Provide Insights on Its Own
• It Can Also Enhance “Asking” Research
Hed
Text• Bullets• If• Needed