SOCIAL BUSINESS ANALYTICS

Registration ID: IJNRD_193054

Published ID: IJNRD2305074

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KARAN BHARDWAJ

Introduction Both for individuals and for organisations the first decade of the 21st century is characterised by the social media trend. Social media platforms are increasingly popular, and are amongst others used by individuals to express their opinions. Also firms acknowledge the opportunities offered by social media and are therefore increasingly pursuing to realise their goals through means of social media (Murdough, 2009). The value of the data produced on these platforms lies in the fact that consumers – i.e. (potential) clients – produce these data. In addition, the information is created instantly, real-time and by many people. It is therefore not surprisingly that Dey and Haque (2008) state that data generated from online communication acts as “potential gold mines” for discovering knowledge. Next, firms are increasingly hungry for information that reveals underlying trends and dependencies affecting the firm’s performance. Business intelligence systems are used to obtain such insights (Lonnqvist & Pirttimaki, 2006). The demand for (real-time) business intelligence systems and the popularity of social media offer room for synthesis. Systems that are purposed to derive actionable information from social media to support managerial decision-making are referred to as social business intelligence systems. Thus far, business intelligence systems particularly derive management information from internal data. With the rise of a new data source – social media platforms – the question rises how a firm should process these external data, what kind of managerial information could be derived from the new data sources, and whether or not each firm is able to apply social business intelligence. In business intelligence, indicators representing the strategy of a firm are established. These indicators are termed ‘key-performance indicators’. Consequently, data reflecting the performance of different processes are linked to these key-performance indicators. Whereas links between social media data and key-performance indicators may leverage the opportunities of social media for firms, a fundamental prerequisite allowing social business intelligence is the existence of user-generated social media content. After all, user-generated content that does not exist can not be analysed. Thus, an organisation is dependent for the generation of content on social media users and needs to determine whether social media data exists before considering to invest in social business intelligence systems. So far, it is not clear which organisational characteristics affect the existence of social media content. In this research, two general characteristics describing a firm are used to investigate the existence of social media data; (i) industry type and (ii) customer relation type.

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KARAN BHARDWAJ (May-2023). SOCIAL BUSINESS ANALYTICS. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(5), a589-a592. https://ijnrd.org/papers/IJNRD2305074.pdf

Volume 8 Issue 5, May-2023

Pages : a589-a592

Paper Reg. ID: IJNRD_193054

Published Paper Id: IJNRD2305074

Research Area: Management

Author Type: Indian Author

Country: New Delhi, Delhi, India

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