Big Data and Customer Analytics in the Era of Social Media

• Activity Number: 228
• Type: Invited
• Date/Time: Monday, August 10, 2015 : 2:00 PM to 3:50 PM
• Sponsor: Section on Statistics in Marketing
• Author(s): David Stodder*
• Companies: TDWI
• Keywords: customer analytics ; big data ; social media data analysis ; marketing analytics ; statistics in marketing

Abstract

Customers today are more than just customers. Using social media networking, they influence each other in profound ways. Their data trails across social media, blogs, and other online channels deposit clues to product and service interests, likes and dislikes, and how marketing messages impact buying decisions. To compete, companies must analyze this potential treasure trove of behavioral data so that they can unearth hidden patterns, personalize marketing, and more.

The race is on to revamp customer intelligence based on knowledge gained from the big data frontier. New data from social media demands new tools, new analytical practices, and new thinking about how to provision data. This talk will discuss the impact of social media and other online data on customer analytics strategies. It will discuss how big data and social media data analysis can complement traditional statistical analysis of customer data.

The session will draw on TDWI Research's insights into what companies are doing with social media data analysis and how this is altering statistical analysis of customer data. It will discuss technologies making it easier for non-IT personnel to analyze social media data.