Blog-SocialMedia-Analytics-DavidBell

Elevating the consumer experience with social media analytics and

Elevating the consumer experience with social media analytics and

Once upon a time, retail was a one-sided conversation, with companies dictating trends, points of purchase, even price. Today, it’s an always-on, multiplatform model that counts on social media to understand consumers—wherever they are and on whatever channel they buy. We asked big data experts: how can social media analytics and retail data elevate the consumer experience?

Professor, Xinmei Zhang and Yongge Dai, and professor, marketing, Wharton School of the University of Pennsylvania

Social media and retail analytics elevate the customer experience in several ways:

Social media facilitates what consumers, as human beings, fundamentally want—engagement, connection and shared experiences. Analytics supplements and makes up for consumer deficiencies by remembering which brands consumers like, what they bought last time and so on. The former taps emotions; the latter makes up for cognitive deficiencies.

Our global research shows that shoppers are looking for retailers to exceed expectations and deliver superior service and efficacy. Increasingly, brands are seeking to mine social and retail data to understand needs and preferences of shoppers. Social data can be extremely useful in nurturing followers that have already formed bonds with your product or brand. We believe it can also be effective in better understanding influencers and prevailing sentiment. This type of data is directional and can be leveraged for new or repeat customers and purchases. At the other end of the spectrum, retail data can be used to validate marketing strategies and uncover potential opportunities of gaps.

Read Also:
Teaching an Algorithm to Understand Right and Wrong


Chief Analytics Officer Spring 2017

2
May
2017
Chief Analytics Officer Spring 2017

15% off with code MP15

Read Also:
How the Internet of Things Changes Big Data Analytics

Big Data and Analytics for Healthcare Philadelphia

17
May
2017
Big Data and Analytics for Healthcare Philadelphia

$200 off with code DATA200

Read Also:
IT: Easy data visualization and analysis, all day, every day

SMX London

23
May
2017
SMX London

10% off with code 7WDATASMX

Read Also:
What Silicon Valley is Doing to Make Big Data More Secure in 2016

Data Science Congress 2017

5
Jun
2017
Data Science Congress 2017

20% off with code 7wdata_DSC2017

Read Also:
What Silicon Valley is Doing to Make Big Data More Secure in 2016

AI Paris

6
Jun
2017
AI Paris

20% off with code AIP17-7WDATA-20

Read Also:
What Silicon Valley is Doing to Make Big Data More Secure in 2016

Leave a Reply

Your email address will not be published. Required fields are marked *