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Understanding Brand Position via Social Media Analytics

Case Synopsis

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Case Synopsis

Introduction
According to a recent study by the McKinsey Global Institute, 80% of the worlds data today exists in the unstructured form. Unstructured data is created when customers articulate their experiences in their own words. These expressions are invaluable in understanding the true customer sentiments and understand their current state of mind. However, in the past, deriving meaning from such verbatim feedbacks has been possible only on a quantitative scale. Until recently, even quantitative techniques have been limited to crude coding of comments into pre-defined silos, which usually results in the data losing majority of its value in the process. With the emergence of advanced text analytics, software and techniques, we are presented with new possibilities to quantitatively analyze unstructured data. Unstructured data in digital world is growing at an unprecedented rate due to widespread use of social media, emails, blogs etc .

Text Analytics helps to define a broader role in solving common and essential business problems. Text Analytics Solutions complement existing data mining techniques to help make data richer, and insights more accurate. The technique is built on content management and text search, rather than databases and queries. It works with documents, the most common form of unstructured data, rather than fielded, numeric data. Text Analytics starts with source-document acquisition. Lexical and linguistic analyses help structure content for feature extraction; and statistical data mining that can classify information and detect clusters, linkages, associative and predictive rules, and other forms of relationships. Visualization interfaces, especially network diagrams that display entity and concept inter-relationships, as well as browsers and navigators that link extracted information back to source texts, deliver results for interactive exploration.

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Case Synopsis

The potential applications are countless. A few are highlighted below:

Customer profile analysis, e.g.; mining incoming emails for customers' complaints and feedback on social media This makes it easy to track and engage with existing customers online. Creating an active community of customers also serves as a perfect means for conveying news, updates and promotions, thereby expanding reach at optimized costs

Information dissemination, e.g.; organizing and summarizing trade news and reports for personalized information services Company resource planning, e.g., mining company's reports and correspondence for activities, status, and problems reported Targeting new prospects likely to be interested in companies products. Using advanced text mining will help identify signals indicating buying intent Increasing customer referrals to engage with customers, prospects and influencers in ways that help and benefit them

Business Challenge
Our client is a leading DTH service provider with a subscriber base of over 10 million. The client interfaces with its customers through various social media sites. The client was seeking analytics support to:

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Case Synopsis

Understand customers sentiments and experiences Gain market intelligence on brand positioning vis--vis competition

Our Solution
Text mining process to address the challenge: A comprehensive analytics solution was built by deploying a range of techniques starting from data collection to advanced analytics on the text data to address the clients requirements. A complete analytical workflow was discussed to understand nuances of business expectation, privacy and data efficacy. Data collection and quality check: A propriety tool was deployed to assess consumer comments from brands own social media pages, other industry forums frequented by consumers, and websites pertaining to competitors products. The information was collated and checked for any missing or incomplete parts. Connectors were deployed, tested, and fine-tuned to automate the data captured. Data integration and clean-up: In this phase, the information collected from various structured and unstructured sources was integrated. The data integration process concluded with bringing in disparate variables together to create a tabulated data. Further clean-up was executed on this data to remove blank data or other irrelevant discussion topics, along with the elimination of duplicate and incomplete records. Text mining: Text mining, a procedure of synthesizing information, played a vital role as it helped in analysing relations, patterns, and rules among textual data. This included text summarization, text categorization, and text clustering. Text summarization was used to extract partial content reflection. Text categorization on the other hand, assigned a category to the text amongst the predefined categories. Text clustering segmented texts into several clusters, depending on their substantial relevance.
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Diagram1: Periodic Insights depicting trends & patterns on Need Focus leading to Actions Points

Advanced statistical analysis: After creating categories, data was analyzed to create various reports such as buzz by source, top discussion topic and sentiment trend among others.

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Case Synopsis

For

example,

we

used

perceptual mapping to show clients brand performance

vis--vis its competitor brands which helped him understand where the brand was lacking as compared to competitor brands.

Diagram 2: Perceptual Map depicting the perceptions of customers on products, services or brand vis--vis competition

Actionable Insights
From the advanced statistical analysis (correspondence mapping) mentioned, actionable insights were developed such as; Perceptual Mapping to monitor Brand Imagery Brand Promoter Score & Identification of the Promoters & Distractors Buzz Index Semantic Sentiment Analysis

Benefits of Process
Continuous monitoring of brand imagery vis--vis brand proposition, improved customer satisfaction, and product feature / service improvement Enhanced customer experience with proactive engagement Effective communication & promotions towards identified promoters

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About Ananto
Ananto is Big Data Analytics Solutions and Services Company, supporting firms with Data Insight, Predictive Intelligence, Technology Integration and Advisory and Professional Solutions and Services. The word Ananto means Infinite, depicting the very nature of endless possibilities of business solutions that can be achieved using effective analytics. Our mantra is to convert your data to dollars. Data itself has no value, unless it can be harnessed smartly and transformed into deeper consumer insight and channelized towards enhancement in productivity and efficiency. This deep insight into data can help organizations to Re-focus, Re-align, Re-engineer and be Relevant and Resilient. Started by customer experience industry veterans with global experience in technology, process management, consulting and business solutions. In his last assignment, Aparup Sengupta was the CEO and MD and Anil Modi was the CMO of a $1bn business services organization.

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Case Synopsis