The emergence of digital media has ushered in a new era of social sharing with active participation from businesses and their stakeholders. This ever-evolving technology has brought about changes in the marketplace, leading to new ways of communication: peer to peer, customers to businesses, business to business and so on.
The pervasive digital technology has led to a data explosion.
Just imagine some of the data that is generated every single minute:
- Google receives 2,000,000 search queries
- Facebook users share 684,478 pieces of content
- Twitter users send over 100,000 tweets
The ability to adapt to this changing landscape and tie it to business outcomes is the new reality companies are waking up to. In an increasingly connected world, social media has the power to make or break a brand in a relatively short time.
Although companies recognize the opportunity, they are challenged in defining a clear and effective way for an organization-wide adoption of social media best practices.
Typically, most companies only leverage a fraction of the possibilities; social media initiatives are often implemented in isolation without proper insight onhow making social media strategy a priority can effect an entire organization.
The social media conundrum
As more data becomes available, there is also a gap in how effectively it is being used. In a recent survey by Economist Intelligence Unit, 41% of respondents said that customer service has the most potential to benefit from social media or big data. However 40% of the respondents also said that they lack the capability to fully leverage the data.
Companies need to understand that, as technology continuously evolves, they will require people and meaningful tools that will analyze massive amounts of raw data -spread across various social platforms – and translate it into meaningful information that they can leverage.
Powered with this information, companies will be able to sharpen their existing services and processes to deliver enhanced customer value and experience. Read more
Published in: http://ehotelier.com By: Eric Magnuson