1. Business
  2. Economics
  3. in recent years social media have become pervasive throughout society...

Question: in recent years social media have become pervasive throughout society...

Question details

In recent years, social media have become
pervasive throughout society. No one can
deny that social media have completely
changed the context of privacy, shaping and
reshaping relationships, exaggerating ideals
of sharing, and reconstructing daily routines
in order to visit one’s online friends at least
once a day. Thanks to social media, people
can now share every detail about the most
mundane things in life. Updating where you
are at any given moment alerts your friends
to what you are up to but also allows enterprises to learn how to better market products
and promote celebrities.
Responding to the growing influence of
social media and, in turn, demonstrating
another crucial function of the phenomenon,
all types of organizations are finding value in
monitoring and digesting the nonstop flow of
posts in the social media world. For example,
traditional business intelligence (BI) will
inform you where your products are selling
well and where they are not. But it will not tell
you why your product is selling well in one
location but not another. By integrating social
media with traditional BI tools, you can monitor everything that is being said about your
products on various platforms. With such
social intelligence, you can gain deeper and
more timely insights about customers, learning
why a product is not selling. As we all know,
information can travel fast on social media
sites, as information goes viral when people
like, share, and retweet information. By carefully monitoring trends, companies can stay
ahead of the competition as new information is
starting to trend. Countless successful organizations are actively monitoring social media to
gain social intelligence regarding the sentiments of current and future customers.
Social media has not only become an
important source of up-to-date information
for businesses, but it is also emerging as a
valuable resource for police and other first
responders. Social media users have demonstrated that information about crises can
travel at a rate that rivals 911 services.
Indeed, analyzing public information is not
unusual in the world of intelligence gathering
either. Today, social media have people racing to express who they are and what they
think, information that has never been this
vast and openly accessible. Using such information, the U.S. government is developing
tools to forecast everything from revolutions
to upheavals to economic changes. Recently
released documents also reveal that the U.S.
National Security Agency (NSA) uses Facebook and other social media profiles to create
maps of social connections. From businesscorporations to government agencies, insights
about what is happening, or about to happen,
can be gleaned from social media where people are compelled to share what they know or
think with just about anyone.
Have you checked your Facebook newsfeed today? Or, more accurately, how many
times have you been on Facebook since you
woke up this morning? It is astonishing to see
what a large part of our lives social media
have become. By just keeping an eye on the
number of posts your feed gets in an hour,
you can easily imagine how analyzing these
massive numbers of posts can quickly
become a Big Data problem. On the other
hand, gaining social intelligence has become
a Big Data opportunity for countless
organizations.

6-51. How will organizations know what to look for when using
social media for business intelligence?
6-52. How can government organizations analyze social media
activities to predict social upheavals?
6-53. Given the speed and volume of activity on social media,
what business analytics and visualization tools could be used
to make sense of the information?

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