Social Business Intelligence - Like!
With the release of SAP's joint product with Netbase, Social Media Analytics by Netbase, I want to look at why organisations are integrating social media and other unstructured internet data into their existing Business Intelligence architecture and how we can go about integrating Social Media Analytics by Netbase into those daily offerings.
Why now for SAP? Well demand obviously. There are over 250 million tweets a day, YouTube videos are watched 4 billion times a day and 60 hours of video is uploaded every minute. Reason enough? Oh ok they felt the peer pressure - their competitors are already making acquisitions to mine such data, for example Oracle and Endeca, SalesForce.com and Radian6.
What are the Netbase products are all about?
In their own words: "at the core of our solutions is advanced natural language processing (NLP) technology that, simply put, can read and understand language-at massive scale". Netbase products look at all the data whirling around the net and help analyse trends, view sentiment, make comparisons and then wrap it up into some nice visuals. Ok so that was a simplified view, but you get the picture. So in real terms what can this mean for organisations that embrace the analytics of social media?
These are just some of the benefits:
Increased effectiveness of Marketing spend
Increased customer satisfaction
Identify risk more efficiently
Greater brand awareness
Real time behavioural analysis
Faster response to potential opportunities
What else do I need if it does all that?
The product set isn't a data management tool. So what if you want to integrate the data with your existing data? By linking to the trends data available within the Social Media Analytics by Netbase product, organisations can align this with their monthly sales data to see if sentiment was impacting on their bottom line. Beyond this, organisations can then use this initial sentiment analysis to understand why profits are up or down and capitalise on the intelligence by making strategic decisions.
Luckily for us SAP and Netbase have thought of this. Through the use of a connector and API any data that is housed within the Social Media Analytics Workbench can be extracted to into any database. This data can be integrated into existing and more traditional Business Intelligence architectures. By using the BusinessObjects Data Services suite, the data can be managed, transformed and exported to where it needs to go. By using part of the product known as Text Analysis, or the Text Data Processing tool, to build upon the initial sentiment analysis, organisations can begin to identify relationships, events and entities which help to effectively turn unstructured data into structured data.
I, for one, am eagerly anticipating getting to grips with the SAP/Netbase product and seeing how Bluefin Solutions scores!