Business Intelligence Blog from arcplan

Social Media & Business Intelligence: Friends or Frenemies?


Social media monitoring is an emerging trend that’s here to stay as the popularity of sites like Twitter, Facebook, and Google+ increases. Business intelligence is past the trend phase – it’s commonplace at companies large and small, who will spend nearly $11 billion on it before the year is over, according to Gartner. These are two powerful segments of the analytics market and the question that’s begging to be asked is: are social media and business intelligence friends or frenemies? Do they have to play along to keep the peace or do they actually go hand-in-hand?

For us at arcplan, social media and BI are two sides of the same coin, two pieces of the puzzle that is your business. For a complete picture of your customers, your brand, and your position in the market to emerge, you need information that’s collected from social sites and from your corporate data sources. After all, your data warehouse isn’t going to tell you that the off-handed Twitter comment you made last week contributed to a drop in sales unless you can associate your sentiment analysis to your sales data.

We’re all striving to “do more” with our data – to roll out ad-hoc reporting to our business users so they can take ownership of analysis, make data easier to access so we can rely on IT less, create high-level dashboards for our executives, build scorecards to manage our KPIs, master every chart type… but we haven’t truly begun to do more with data until we incorporate information from outside traditional BI data sources into our everyday analysis. And be aware, the amount of data we’re talking about can be huge. That’s why some in our industry call this Big Data – but this is a story we will review in another article.

It’s important to understand how you, as an organization, can structure social information and associate it to the other data you have about your customers. All kinds of companies – B2C and B2B – are seeing the need to better understand all dimensions of their customers – not only demographic information and purchase history, but also what they’re saying in the social space.

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