text analytics summit - text analytics – the foundation for social business collaboration...
DESCRIPTION
The importance of sophisticated text mining and analysis is becoming more critical as the volume of social media conversations continues to grow. In Don’s presentation he will describe: The handling and processing of large volumes of social media data using enterprise-class listening platforms The deployment of real-time ROI oriented dashboards through advanced data research and management How advanced categorization accuracy and precise filtering makes social CRM and targeting possible. How to optimize engagement outcomes with customers through formalized Business Process Management workflowsTRANSCRIPT
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Collective Intellect
Text Analytics – The Foundation for Social Business Collaboration
Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
Spring 2011
REAL TIME SOCIAL ANALTYICS
Don Springer, CEO
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What is Social Business Collaboration
Proprietary and confidential. Not to be used or distributed without the consent of Collective Intellect, Inc.
Finally I can upgrade my phone. Question is shall I get the iPhone now or wait for the new one or will it be pricey when it comes out
Should I switch from Comcast to Fios – based on Verizon Customer Service???
I hate Verizon and after switching now love Comcast and their high-speed Internet and On-Demand selection!
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Getting the right message to the right audience at the right time on the right platform
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Awareness Consideration Preference Purchase
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What is Social Business CollaborationIt’s integrating and sharing social business intelligence across the organization to support the customer throughout the value cycle
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Creating a Social Business
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It’s about understanding the social media maturity curve through the lens of your organization’s functions and how it enriches a customer’s experience
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True social business engagements can only be effectively achieved if the foundation of enterprise social listening, correlation with existing data and mapping of social profiles to internal records can be enabled
Creating a Social Business And implementing a framework and process for measuring & correlating social ROI with traditional metrics
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Each step builds onto the next, but it is an iterative process and non-linear
Inform
• Identify unique social insights using white-space analysis from consumer conversations
Combine
• Construct automated dashboards tracking critical KPIs to integrate and correlate social data with traditional data
Engage
• Leverage social intelligence to drive targeted action and optimize business practices and engagements
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Use Social Data to Inform Business Intelligence
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What are social insights?
• Real-time & relevant – consumer preferences, intentions and considerations
• More than monitoring – beyond likes and retweetso Intentions & Interestso Demographic/Psychographic/Life Stage
• Social network vs. platform-specific – network or community specific social research
• Blend social and traditional market research – validate social findings or advance your understanding of emerging trends
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Text Analytics Needs to be Broad and Deep
To identify social insights and provide repeatable, real-time metrics tracking.
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Pre-filter: Narrows large data-sets for analysis with
more sophisticated semantic processing› Issues with ambiguity› Difficult to provide granular filtering
Insight: High Quality Similarity Measures High Performance for Speed and Precision Easier Maintenance Used for Highly Accurate Categorization Spam identification
Speech analysis: Parsing content to diagram context
› Slow on large, unstructured text› Time consuming to adjust with changing
content
Keyword/Boolean
LSA
NLP
A Holistic Text Mining Approach is Needed
The listening platform should achieve highly accurate categorization and precise filtering the essential building block for social business collaboration.
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The Listening Platform’s first job is to discover insights
It should enable open-ended, organic, automated white-space analysis
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Use Social Data to Inform Business Intelligence
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Day part
Dimensions: Intent to ViewSentiment: Positive Gender Location Subjective
Show Selected
Social handle
What is social intelligence?
Sophisticated text mining technology can derive rich insights into consumer preferences, demographics and intentions from just 140 characters.
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In-market intent for music concert
TV viewing habitsResponses
to specific content
Use Social Data to Inform Business Intelligence
What is social intelligence?
Technology should disambiguate the difference between “Panic” the group and “panic” the state. It should also build up a history on attitudes by social profile for more effective communication strategy input.
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Use Social Data to Inform Business Intelligence
Where does social intelligence reside?
20 million unique authors 500 unique forums/boards 500,000 posts/day
60 million unique authors 8 million tweets/day 100,000 new authors/day
2.5 million authors 40,000 unique sites 200,000 posts/day
50 million unique authors 2 million fan pages/user groups 1 million+ posts/day
Social Media Consumer Generation
Social media vertical Sub-sector Representative players
Networks/platforms - Social networks- Professional networks
Content creation, distribution and customization - Content customization- Livecasting and over-the-top video- Location-based services- User content publication and aggregation- User-generated video
Communication and interaction tools - Microblogging- Real-time communication
15 million unique blogs 1 million+ posts/day 10,000 new blogs/day
Social Media Consumer Generation
Social media vertical Sub-sector Representative players
Networks/platforms - Social networks- Professional networks
Content creation, distribution and customization - Content customization- Livecasting and over-the-top video- Location-based services- User content publication and aggregation- User-generated video
Communication and interaction tools - Microblogging- Real-time communication
Social: 180M unique authors 300K new authors/day 10M posts/day
Private: Any text-based data Setup within hours
600 thousand unique consumers 60 thousand reviews/day 25 unique review sites
Survey/Focus Group Verbatim
Private Community Conversations (External & Internal)
Call Center/Email/Chat Transcripts
Text-Translated Video
Private news, research, feeds
Private DataSocial Data
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Use Social Data to Inform Business Intelligence
Social Intelligence – Signal to Noise Ratio
The greatest challenge to social business intelligence is maximizing signal to noise ratio from the ever growing volume of social media conversations. And enterprise listening platform needs to:
• Isolate the contextual meaning of topics and achieve highly accurate categorization
• Apply superior trait extraction to surface author considerations, preferences and intentions, including demographics
• Include a strategy of mapping traditional data to publically available social profiles
Then, move to Step 2, by integrating social intelligence into existing data management or business intelligence systems to inform course correction to change outcomes and ultimately influence ROI
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Combine – Integrate & Correlate Text & Transactional data
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• Configure real-time KPI dashboards that integrate social analytics with traditional data, like transactional and customer service details
• Correlate social & traditional data for a 360 degree view of your customers, your campaign initiatives and outreach efforts
• Fine-tune your analysis for early detection of negative sentiment or reactions to new products or campaigns
Creating a social business
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Combine - Create Always On, Real-time KPI Dashboards
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Creating a social business
Select KPIs to track in real-time to inform course correction and impact across: campaigns, outreach schedules and emerging issues.
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Customer Identities & Contacts
Demo/Psychographic Data
Categorization/Segmentation Data
Behavioral Data
Customer Preferences
Customer Activity
Social Influence
Social Inputs
Themes
Intentions
Interests
Sentiment
Terms
Passion
Traditional Inputs
Transaction History
Web Analytics
CookieHistory
Targeted Engagement
Customer PreferredSocial, Traditional
ConsumerAnalytics
Qualitative/Quant.Research - Scorecards
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Action Outputs
The Socially-Appended Customer CRM Database
Connecting Offline Online Customer Data
Client or CRM Data Analytics Partner
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xxxxx xxxxx• #### xxxx Drive• xxxx,xx• [email protected]• Married, xx• Income 35 K / Yr• Twitter ID:
@im_just_mi
Establish links from traditional data records with online social identities.
On diet and uses Lean Cuisine Just Had Life
Event
Consumes Music Digitally
Social DataTraditional Data
The Socially-Appended Customer CRM Database
Connecting Offline Online Customer Data
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Engage – Optimize Outreach
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Connect the right audience with right message on the right platform
Finally I can upgrade my phone. Question is shall I get the iPhone now or wait for the new one or will it be pricey when it comes out
Should I switch from Comcast to Fios – based on Verizon Customer Service???
I hate Verizon and after switching now love Comcast and their high-speed Internet and On-Demand selection!
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Engage – Optimize Outreach
Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
Connect the right audience with the right message from the right person on the right platform
• Shared not siloed. Business processes are in place to share social media analytics across the organization
• Consumer language – voice of customer – is helping to drive campaign, product or outreach considerations
• Blend real-time with long-term outlook. Real-time analysis of social conversations is used to inform long-term strategies and outlooks
• An important but not the only channel. Social is considered an important channel as part of a multi-channel measurable engagement strategy
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Engage – Optimize Outreach
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Connect the right audience with right message on the right platform
Create targeted outreach efforts based on socially-optimized business intelligence.
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Connect your audience to your advertiser
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Skins
Jersey Shore
Movie preference/ advertising opportunity
Show
E-commerceopportunity
Vampire Diaries
In-market lead/ advertising opportunity
Teen Mom 2
Lifestyle & Interests
We can find connections between viewing and interests over a period of time.
Actionable Insight
Connect the right audience with right message on the right platform
Create target-specific, multi-channel efforts for the right audience.
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Collective Intellect
Thanks for your time. Drop us a line @collectual,
http://collectiveintellect.com or on Facebook
Proprietary and confidential. Not to be used or reproduced without the consent of Collective Intellect, Inc.
Spring 2011
REAL TIME SOCIAL ANALTYICS