Social Media Is Changing Business Intelligence
April 21, 2011
Social media networks are changing the way organizations do business, both internally and externally, and business intelligence is at the center of this social revolution.
Social business intelligence reflects both of these trends: Business intelligence tools are becoming more collaborative, with user-friendly interfaces and sharing capabilities, and organizations are also using business intelligence (BI) to mine the vast amount of social media data about companies and their competitors.
Instead of the traditional focus on databases and data warehouses, BI is now beginning to take in data from other sources like unstructured data and social media which can present daunting data management challenges for companies that are unprepared for the volume of potential data sources that reside outside of databases.
But with Facebook, Twitter and other social networks providing a vast array of new data for companies to mine, businesses have begun to spend serious money on social BI and social CRM tools that can help them make sense of that data. Customer service, competitive and brand intelligence and research and development are just a few of the uses that can be made of social media data.
For more on social business intelligence, its challenges and potential rewards, see Social Business Intelligence - What Is It, and Do You Need It?