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Reasons to Explore Big Data with Social Media Analytics [VIDEOS]
Posted on January 15th 2014
There are over a billion active users of social media network worldwide, many of whom are frequently active and can be connected by means of their smartphones and tablets. Social media indeed has become a main communication network in the daily lives of people around the world. Did you know that any activity in social media is generating insurmountable data? These big data are just waiting to be explored. In fact, social media now embodies the leading and biggest source of consumer data. Just imagine the hundreds of thousands of posts about a company’s products or services that have been published every day!
What is Big Data?
Big Data is basically used to describe the exponential growth as well as the availability of structured and unstructured data. Good management of big data can actually lead to great insights; you can be able to figure out the root cause of problems and failures as well as deceitful behavior that affects the revenues of your business.
Big Data allows relationships to be found in terms of determining business trends, quality of research, link legal citations and regulate concurrent roadway web traffic conditions.
However, working with big data is so complex due to having multiple resources. It varies depending on the capabilities of the group who manage the set and considering the applications they use. For instance it may take hundreds of terabytes before the data size is considered as significant.
How Big Data Works?
Big data are collection of data sets that is difficult to process with just simple on-hand database management tools or traditional data processing applications. The big data applies inductive statistics and concepts from nonlinear system identification to conclude laws of regressions, nonlinear relationships, and causal effects coming from large data sets to show relationships, dependencies as well as to perform predictions of outcomes and behaviors.
One of the central features of big data analytics is the real or near-real time information delivery. Therefore, latency must be avoided whenever and wherever possible. For instance, Data in memory is good but data on spinning disk at the other end of a FC SAN connection is not. It is for the reason that the cost of a SAN at the scale needed for analytics applications are very much higher than other storage techniques.
What are the Advantages of Big Data?
Big data technology offers significant contributions yet also provides extraordinary challenges to World Wide Web development. The big data analysis advancements have resulted to economical opportunities such as progressive decision-making in major development areas like that of health care, employment, economic productivity, crime, security, and natural disaster and resource management.
Nevertheless, the proficient analyses can result to assertive decision making and therefore better resolutions can mean greater operational competences, cost reductions and lessen risk. Just like many new information technologies, big data can bring about tremendous cost cutbacks, extensive advances in the time required to perform a computing task or new product and service offerings. Like traditional analytics, Big Data can also support internal business decisions. The technologies and concepts behind big data allow organizations to attain a variation of objectives. Know the reasons why you should explore big data with social media analytics.
Here are the benefits of properly managing big data in marketing:
- Define root causes of disasters, concerns and flaws in near-real time, possibly saving billions of dollars yearly.
- Produce retail coupons at the point of sale depending on the customer’s present and past purchases.
- Send personalized recommendations to mobile devices while customers are in the right area to take advantage of offers.
- Recalculate entire risk portfolios in just minutes.
- Swiftly find customers who matter the most.
Social media is a key model of the velocity and variety which are associated with Big Data. With social media, data is coming at you at an inconceivable speed and in a number of formats including videos and pictures. Only Big Data Applications can enable organizations to manage these social conversations in real-time. That is why social media is indeed mountains of big data waiting to be explored. Don’t miss the ability to make sense of what all the available data means to your business and marketing strategies. Big Data is usually associated to having volume, velocity, variety, variability and complexity which are also features of Social Media Analytics.
Reasons to Explore Big Data with Social Media Analytics
Reason# 1 Social Media Analytics and Volume. Social Media has many factors that contribute to the increase of data volume to explore. There are unstructured data streaming as well as increase of sensor and machine to machine data being collected. Proper use of Social Media Analytics can help create value which is significant to the relevant data.
Reason# 2 Social Media Analytics and Velocity. Data in Social Media is streaming at exceptional speed that must be dealt with in a well-timed manner. It would be interesting to explore this feature in Social Media analytics as this is one of the great challenges for many organizations.
Reason# 3 Social Media Analytics and Variety. Data in Social Media come in all types of formats. Structured numeric data in traditional databases, information generated from line-of-business applications, unstructured text documents, email, video, audio, stock ticker data and financial transactions all comes in different types of formats.
Reason# 4 Social Media Analytics and Variability. Social Media data flows can be highly unpredictable with periodic peaks. Such data loads from what’s trending in social media, mixed up with unstructured data are even more challenging to manage yet interesting to explore.
Reason# 5 Social Media Analytics and Complexity. Data in Social Media comes from numerous sources. It is a great challenge to undergo the different processes like linking, matching, connecting, correlating relationships, hierarchies and multiple data linkages. This is how complex data can be and if not managed properly, they can spiral out of control.
It is absolutely essential to discover more about exploring Big Data with social media analytics. If you are serious about optimizing your website, then you should learn the best ways to design and develop a website.