Social Media Analytics
Social Media Analytics
Ahmed Abbasi
University of Virginia
1
Outline
Social Media Overview
Social Media for Communication and
Collaboration
Social Media Analytics
Application areas
Challenges
Social Media for Engagement
2
1
Social Media Analytics
Social Media
Socialnomics video:
3
The Social
Ecosystem
Collaboration
Analytics
Engagement
4
Source: Forrester Research
2
Social Media Analytics
SOCIAL MEDIA FOR
COMMUNICATION AND
COLLABORATION
5
Communication and Collaboration:
Social Media Usage
Source: McKinsey Quarterly 2012
3
Social Media Analytics
Communication and Collaboration:
Benefits for Internal Use
7
Source: McKinsey Quarterly 2012
Communication and Collaboration:
Alternative to Email?
French company Atos
to ban internal email
usage.
Statistics:
200 emails per
employee, per day
10% are useful
18% are spam
Exploring other tools,
including social media
8
Source: ABC News, 2011
4
Social Media Analytics
Communication and Collaboration:
Challenges
Social media management policies
Security
Usage
75% of employees use social media to stay in
touch with friends
Technology portfolio management
On average, 6 social media tools
Some using 25+ tools!
Unified communication (UC)
9
SOCIAL MEDIA ANALYTICS
10
5
Social Media Analytics
Social Media Analytics Definition
Technology used to monitor, measure,
and analyze activity by users of the
Web 2.0 framework to provide
information to make business decisions.
According to a 2011 Bloomberg
Businessweek Survey:
Gartner’s Hype Cycle for Analytics
Social Analytics
Social Network Analysis
Social Media Metrics
Emotion Detection
Social Media Monitoring
Source: Gartner 2011
6
Social Media Analytics
Text Information Categories
Multi-class problem
Keyword-driven
Topics
Low
Series of
binary or
multi-class
problems
Opinions
Multi-class
problem
Overlapping
classes
Emotions
Identification Complexity
Multi-class
problem
Context
dependent
Events
High
Complexities
Linguistic features
Literary devices (sarcasm, satire, rhetoric, irony, etc.)
Spam
Context
13
Social Media Analytics: Opinion Mining
14
Source: Chen 2010
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Social Media Analytics
Social Media Analytics: Opinion Mining
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Source: Chen 2010
ONLINE SENTIMENTS AND
FINANCIAL PERFORMANCE
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8
Social Media Analytics
Sentiment Indicators and Indexes
Consumer sentiment as an indicator?
Consumer Confidence Index (CCI),
Consumer Sentiment Index (CSI), etc.
Web 2.0: Social Media Sentiment?
Online Customer Satisfaction
February 12, 2005
September 25, 2010
2007-2008
Photo Books
Now, free unlimited
storage space
2/2008
Shutterfly Gallery
4/2009
iPhone App
Sources: Foresee, http://www.foreseeresults.com, CNN Money, http://tech.fortune.cnn.com/2009/10/07/shutterfly-fights-the-photo-recession/
Internet Archives, http://www.archive.org/
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Social Media Analytics
Online Customer Satisfaction
Increased satisfaction score between 2009 and
2011 also resulted in increased stock price.
19
Social Media Sentiments as an Indicator?
The strong
relationship between
stock price and
sentiment
polarity/intensity
(sents) for Apple
over a 24-hour
period.
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Source: Das 2010
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Social Media Analytics
Using Blogs to Predict Movie Sales
Key finding: frequency of positive sentiments is better
indicator than volume of posts alone.
Relationship between movie income per theater
(solid line) for new releases, and frequency of
positive blog posts (dashed line).
21
Using Twitter to Predict DJIA Movements
86.7% accuracy in predicting closing up and down of DJIA
using Twitter tweets
22
Source: Bollen et al. 2010
11
Social Media Analytics
Twitter and the Facebook IPO
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Social Media Analytics: Twitter
Twitter
100M+ active users per month
50% log on every day
55% on mobile
1B Tweets every 3 days
10 billion/month in Oct. 2012
6 billion/month in Sept. 2011
4 billion/month in Mar. 2011
3 billion/month in Jan. 2011
2 billion/month in Apr. 2010
1 billion/month in Jan. 2010
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12
Social Media Analytics
Social Media Analytics: Twitter
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Source: http://www.mediabistro.com/alltwitter/api-billionaires-club_b11424
USING SOCIAL MEDIA FOR
DECISION-MAKING
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13
Social Media Analytics
Social Media and Product Design:
The Case Of The Red Dell
Source: Radian 6, 2010
Social Media and New Logos:
Mind the Gap?
2,000+ critical comments on Facebook
5,000+ new critical followers on Twitter
14,000+ parodies of the new logo
Gap reverted back to the old logo within days
28
Source: The Guardian 2010
14
Social Media Analytics
Social Media for M&A Analytics
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Source: Lau et al. 2012
Social Media for Early Warnings: ADRs
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15
Social Media Analytics
Social Media for Early Warnings: ADRs
Current warning mechanisms
Some problems:
Might not be enough reported incidents
Can take time
Differences in time of warning for various
drugs of the same class
Social Media may provide early warning…
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Social Media for Early Warnings: ADRs
Sentiments
S(t)
0
Time t
s
Volume
V(t)
v
0
Time t
Search Query
U(t)
u
0
Time t
FDA 0
Approval
FDA 1
Black Box
Change1
FDA 2
Black Box
Change2
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FDA 3
Withdrawal
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Social Media Analytics
Social Media for Early Warnings: ADRs
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Social Media for Early Warnings: ADRs
34
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Social Media Analytics
Social Media Analytics: Tiger Case
Why did Nike maintain its relationship with
Tiger Woods?
Why did Accenture part with Tiger Woods?
Answer: Social Media Analytics
35
Social Media Analytics: Tiger Case
Sentiment for Tiger Woods before and after
scandal
Combined from Twitter, blogs, forums, social
networking sites, etc.
36
Source: Xenophon Strategies, 2010
18
Social Media Analytics
Social Media Analytics: Tiger Case
Discussion keywords in Tiger conversations
post scandal
4% - 7% of the postings mention a sponsor
37
Source: Xenophon Strategies, 2010
Social Media Analytics: Tiger Case
Far greater reference to Tiger in Accenture conversations than Nike
38
Source: Xenophon Strategies, 2010
19
Social Media Analytics
Social Media Analytics: Tiger Case
Sentiment for Accenture within Tiger Woods
conversations
39
Source: Xenophon Strategies, 2010
Social Media Analytics: Tiger Case
Sentiment for Accenture within Tiger Woods
conversations after cutting ties with Tiger
40
Source: Xenophon Strategies, 2010
20
Social Media Analytics
Social Media Analytics: Tiger Case
Sentiment for Nike within Tiger Woods
conversations
41
Source: Xenophon Strategies, 2010
Social Media Analytics: Tiger Case
2010 CMU study on Economic Impact of Nike
sticking with Tiger:
$1.6 million higher revenue in golf ball sales
alone (in 2010) due to sustained relationship
“Tiger’s continued endorsement profitable for
Nike, but perhaps not for non-golf related
products”
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21
Social Media Analytics
SOCIAL MEDIA ANALYTICS:
CHALLENGES
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Challenges: Spam
Webpages (web spam) – 20%
Our research: 70%-80% of the top 100 Google
search results for “online pharmacy” in 20092011 were spam.
Blog spam (splogs) – 12%
User-generated comments to blogs > 50%
Some studies report rates as high as 90%!
Twitter – between 5% and 10%
Our research: varies, depending on topic
44
Sources: Akismet 2012; Websense 2010; Choi et al. 2011
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Social Media Analytics
Challenges: Spam – Websites and Blogs
45
Source: Abbasi et al. 2012
Challenges: Spam - Reviews
46
Sources: Ott et al. 2012
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Social Media Analytics
Challenges: Spam - Detection
Spam Cues:
Lengthier
Higher average word
length
More descriptive and
vivid
47
Sources: Ntoulas et al. 2006; Ott et al. 2011
Challenges: Sentiment Accuracy
Analyzed performance of several SaaS
opinion mining options:
Found that many of the tools had overall
accuracies as low as:
42% for sentiment polarity classification
75% for within-one accuracy
In comparison, baseline ML methods:
73% for sentiment polarity classification
98% for within-one accuracy
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24
Social Media Analytics
Challenges: Context…the “why”
According to the 2011 Gartner Hype Cycle:
Existing text and social media analytics tools
tend to focus on the semantic dimension of
language: what people are saying.
While using such tools organizations have
difficulty understanding discussion context and
participants’ actions and underlying
intentions.
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Sources: Gartner 2011
Challenges: Context…the “why”
A Text Analytics Framework for Sense-making
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Social Media Analytics
Challenges: Context…the “why”
Discussion: Tea bag manufacturer's dilemma
Manufacturers can develop new products.
Try to develop new products. But I think that manufacturers must invest funds to do academic research.
Then the development of new product has certain theory and factual basis.
What new product we can try?
We can try to develop new flavors of products
The research and development cannot be finished in one or two day. Now it must face surplus.
New products with health care function
We can develop different products according to different consumer groups. Such as tea with health function
to older man, slimming tea to young woman, and packaging milk tea.
Currently, milk tea is popular. We can produce more milk tea.
Packaging milk tea seems impossible.
If developed milk tea poured many times, it might attract more customers.
In consider of sales, we can think about seller, promotion mode, brand culture and propaganda.
Yeah, manufacturers cannot bear the cost of research and development.
Training and recruiting the marketing person
For sales， Jumping to a big sale can be effective?
Tea bag can be poured repeatly?
I think milk tea can be poured repeatly hasn't any practical implication.
big sale will lose money？
Making some promotional activities.
building the brand concept is pretty important. I think there no famous band in tea bag market.
So, we can create our brand though donation.
we can find some famous spokesmen.
We heard people donate quilt and tents, but didn't hear donating tea bag. Donation CANNOT promote the brand.
what kind of spokesperson will contribute to propaganda of tea bag?
Spokesperson with positive image and effect is very important. So, they can play good publicity effect
How to deal with excess productivity？How about outsourcing?
Big sale is not appropriate. We need to make money and this sales model is failure.
Outsourcing the excess productivity.
Too much inventory will waste the charges of the stock. Sales might let more consumers to know our brand.
Outsourcing is work for others and brings in a little labor cost. It just reuse the excess productivity.
Who is outsourcer?
And then other people generate bias to our brand. It is CANNOT change such bad impression.
Once our brand sold very cheaply, it is hard to rise in price.
So, it cannot make such big sales. This pattern will hurt the brand building.
Well, yeah, let's think about the others marketing strategy.
Discussion: Tea bag manufacturer's dilemma
☆ Manufacturers can develop new products.
Try to develop new products. But I think that manufacturers must invest funds to do academic research.
Then the development of new product has certain theory and factual basis.
? What new product we can try?
New products with health care function
We can try to develop new flavors of products
The research and development cannot be finished in one or two day. Now it must face surplus.
yeah, manufacturers cannot bear the cost of research and development.
We can develop different products according to different consumer groups. Such as tea with health function
to older man, slimming tea to young woman, and packaging milk tea.
Currently, milk tea is popular. We can produce more milk tea.
Packaging milk tea seems impossible.
? Tea bag can be poured repeatedly?
If developed milk tea poured many times, it might attract more customers.
I think milk tea can be poured repeatedly hasn't any practical implication.
In consider of sales, we can think about sale, promotion mode, brand culture and propaganda.
Training and recruiting the marketing person
For sales， Jumping to a big sale can be effective
? Big sale will lose money？
Big sale is not appropriate. We need to make money and this sales model is failure.
Making some promotional activities.
Building the brand concept is pretty important. I think there no famous band in tea bag market.
So, we can create our brand though donation.
We heard people donate quilt and tents, but didn't heard donating tea bag.
Donation CANNOT promote the brand.
So, we can create our brand though donation
? What kind of spokesperson will contribute to propaganda of tea bag?
Spokesperson with positive image and effect is very important. So, they can play good publicity effect
Too much inventory will waste the charges of the stock. Sales might let more consumers to know our brand.
And then other people generate bias to our brand. It is CANNOT change such bad impression.
Once our brand sold very cheaply, it is hard to rise in price.
So, it cannot make such big sales. This pattern will hurt the brand building.
Well, yeah, let's think about the others marketing strategy.
? How to deal with excess productivity？How about outsourcing?
Outsourcing the excess productivity.
Outsourcing is work for others and bring in a little labor cost. it just reuse the excess productivity.
? Who is outsourcer?
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SOCIAL MEDIA FOR
CUSTOMER ENGAGEMENT
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26
Social Media Analytics
Social Media Sources and Control
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Source: Foresee 2010
Online Social Media Usage
A 2010 study of 99 franchisors’ web presence revealed:
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Source: One Up Web 2010
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Social Media Analytics
Online Social Media Usage
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Source: One Up Web 2010
The Conversion Funnel: e-Tailer
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Social Media Analytics
The Conversion Funnel: Social Media
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Source: Peter Chang, http://webpersonas.blogspot.com/2011/01/deep-dive-into-social-media-conversion.html
SMR Study: How to get Retweeted
25% follow a brand
67% purchase from the brand they follow
What Doesn’t Work
What Works
Asking questions
Leaving room
Hashtags
Making it relevant/timely
Embedding links
Providing practical information
Contests
Offering deals
Creating anticipation
58
Source: Malhotra et al. 2012
29
Social Media Analytics
?
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