May 2, 2014

(Video) Turn Social Media into Business Intelligence with Digimind

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BI has traditionally been associated with compiling disparate data sets, and analyzing complex, structured data. Recently, a new source of intelligence has grown in prominence: social media. Although social media doesn’t produce the type of structured data that fits neatly into tables and charts, the information it produces does contain valuable insight into how consumers feel about businesses.

In response to the huge amount of unstructured data on social media platforms, the business intelligence market has produced text analytics, which are basically analysis tools that dig through mountains of text to uncover trends within the language. Text analytics finally offers businesses a method for uncovering trends in the unstructured data that their customers produce on social media.

Software that process social media data come in two forms: social media monitoring tools, and social media intelligence tools. Grouped in the former of the two categories, Digimind supplies businesses with the tools they need to monitor what customers are saying about their brand and products.

Digimind’s software includes a range of features for monitoring consumer sentiment across social media platforms, as well as tracking brand mentions from publishers such as news outlets and blogs.

You can view the interface and features in action here:

Beyond tracking the number of brand mentions in digital media, Digimind also ranks each source so you can determine the importance of individual mentions. The ranking system takes into account the number of followers, number of times they’ve mentioned the brand, the popularity of the platform they’re using, as well as their reach.

Not all of these ranking factors apply to every source, but the criteria provides an easy method to determine the relative importance of each mention. It’s especially important for you to identify influencers on each social platform, because engaging these experts can have a huge impact on controlling the conversation about your product or service.

Digimind does more than just aggregate social mentions. It also features a reputation tab that shows all the phrases people are using in search engines to find your company or product. This information plays a huge role in search engine marketing strategy (also known as SEO), which gives you actionable intelligence outside of just social media and news mentions.

All of Digimind’s analysis is done in real time, and the reports the platform produces are easy on the eye. However, the terms used for each view on the interface can be a bit confusing, so a small learning curve is involved.

Also, text analytics have a slight reputation for struggling to determine whether a brand mention is positive or negative. The analytics engine may report a mention as negative, when in reality it was positive but used unusual wording or sentence structure. This overlaps with the limitations of natural language processing, but the technology still holds tremendous value to marketers and businesses alike.

Do you analyze and monitor social media data? How does it play into your marketing and engagement efforts? Share your insights in the comments.