The growth of social media over the past decade has significantly influenced the way companies can listen and engage with their customers. For companies already embarked on the Big Data analytics journey, making sense of social media data come high on their agenda. For those companies that haven’t yet invested in the field of Big Data analytics, better understanding their customers through social media analytics looks appealing. But how can companies, both analytically mature and not, grab the full benefits of these data?
Before deciding to get support from Big Data consultancy firms or invest in specialised tools to perform social media analytics, companies should first perform a scope assessment and determine what their analytics vision is when it comes to this specific type of data, e.g.:
Identify trends through social listening
Understand customers’ feedbacks, comments, posts
Identify insights to drive corporate strategy
Improve engagement on social networks
Understand and monitor audience
Optimize marketing efforts
This article focuses on the tools which can help companies achieve these objectives. Inspired by the work of Matt Turck (Big Data Landscape), who brilliantly created a Big Data Landscape which aim at presenting existing tools in this area, I wanted to come up with a similar view specifically dedicated to Social Media Analytics tools. This analytical domain is constituted of a large variety of tools and solutions and finding its way can be tricky.
Although the overview is not exhaustive, it presents a vast majority of existing tools which have been grouped in 4 categories:
Social listening/ intelligence platform: tools providing an enterprise wide platform for social intelligence allowing to listen to social media, analyse and identify insights
Social media analytics: tools focusing on social media performance and statistics through analysis of audience, posts and influencers
Social media management: tools enabling the organisation and management of social media activity, understanding social presence, brand and product reach, customer engagement
Text analytics for social media: text mining and sentiment analysis tools with a specific social media component and/or connectors
Social Media Analytics is a very interesting and challenging domain within Big Data analytics. Its associated benefits can be sizeable for companies which understand its value and know how to leverage it. To do so, defining the right strategy and approach will be key in ensuring the success of Social Media Analytics.
For more information and/ or advice, please contact LBFC sprl (firstname.lastname@example.org)
The 2016 map is the first version and will be amended regularly for new tools, changes in product positioning and errors. The 4 categories presented in the map might evolve over time depending on the need for further detailing.
The map is not intended to be exhaustive and is presented purely for information purposes.
The current categorisation of the tools is based on product information available through corporate websites. Any change or misplacement should be reported to LBFC sprl in order to amend accordingly (mailto: email@example.com).
The map does not constitute a review of the tools or an endorsement of LBFC sprl of the capabilities of the tools.