Nearly all firms are in business to be successful and to surpass their competitors. They are in business to make money. They take on new technologies to fend off new competitors, strengthen the open competitive advantage, leap-frog competitors, or just to make money in new markets. To carry out all or any of this it is critical that they have access to state-of-the-art market intelligence.
Inextricably connected to Social Intelligence (SI) is the appearance of various forms of social monitoring tools. Such tools have developed as a result of developments in technology and have possibly begun to restructure the mode in which B2C connections are conducted, develop access to markets, and the mode in which information is gathered, visualized, managed and disseminated.
SI, integrates the monitoring of an extensive range of developments all through an organization’s external environment, which consists of customers, competitors, suppliers, economic issues, with that of technical and regulatory changes. Timely competitive intelligence relates the development patterns whereas serving as an internal advisory service, which is acknowledged by management for taking strategic decisions.
Generally large companies currently have information, but they still need SI to use the information entirely and cost effectively. SI thus allows users to gather information out of the Web, carry out ad hoc querying and analysis as an alternative of getting regular hard reports. Companies are also finding out that analytics using SI can have an elevated effect on revenues.
3 key opportunities for social intelligence in business
Make data driven decisions:
Map the entire customer journey with turnkey analytic applications built to measure revenue-driving business activities in real-time, not months.
Analyze more data, faster:
Process and analyze even more data in real-time leveraging our cutting edge big data platform.
Accelerate speed to global insight:
Model consumer behavior across 23 languages with fully integrated, natural language processing, machine learning and proprietary machine translation capabilities.
As companies carry on to compete both locally and with their global peers, they necessitate to address business challenges on:
- Managing Growth
- Managing Profitability
- Providing superior Customer Service
- Adhering to Regulatory Compliance
Social Intelligence has a great potential to address all these challenges for companies and truly turn out to be a strategic imperative for the successful and well-organized functioning of any savvy business.