Does Twitter Really Matter?
Timothy Powers 270003F3FN email@example.com | | Tags:  social-analytics decision-making social-media ibmsoftware baforum business_analytics information-insights cognos decision-management spss analytics business-analytics iod11
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We've all turned into spooked ostriches with our heads stuck in the ground.
As Matthew Broderick eloquently re-stated in a Super Bowl commercial reprising his famous Ferris Bueller role, "Life moves pretty fast. If you don't stop and look around once in awhile you could miss it."
In the world of social media, it seems everyone is buried in their mobile devices these days reporting on the minutia of their lives. In fact, it was reported that tweeting records were set during Super Bowl XLVI with 13.7 million total tweets sent during the game and 12,233 tweets per second by the end of the game.
I wonder if anyone really watched the game?
Unknowingly, Twitter has turned us into play-by-play announcers, bad stand-up comedians, "Negative Nancy's,” and critics. We share everything. Is it really necessary to tell everyone what you had for breakfast, what you liked most (or for Boston fans, least) about Tom Brady's performance, the coffee shop you just checked into on Foursquare, your opinion of that Matthew Broderick commercial, or what movies and actors you predict will be Academy Award winners?
If Twitter is a never-ending barrage of babble and nonsense, does it really matter?
You’re damn right it does.
Consumers have become a force de nature in the Twitterverse. Their opinions are unfiltered and unadulterated, yet unfortunately, still quite underrated when it comes to using the data to enhance customer experience. As MTV’s “Real World” once promoted, “It’s time to stop being polite, and start getting real.”
Twitter is raw, real and in your face. Businesses have it easy these days. No longer do they have to go through the formal process of focus groups and lengthy analysis. Want to know what someone is thinking, log onto Twitter.
No dodging the mighty consumer these days. They have become increasingly influential, especially as their opinions travel faster and to a wider group of consumers.
Accountability and honesty reign supreme. If consumers don’t like an organization’s strategic business decision (e.g. Susan G. Komen), new product (Netflix/Qwikster), or advertisement (Groupon/Tibet), there’s no dodging the verbal arrows.
The organizations, however, that decide to take action and analyze the millions and millions and millions of data points created in the socialsphere will own the competitive edge and be able to respond that much quicker. It’s just a matter of separating the noise from what really matters, the consumer’s thoughts, opinions, sentiment and behaviors.
Enter social analytics, the latest in noise-cancelling devices that deliver insights into what people are thinking, why they are thinking it, and most importantly, what organizations can do about it. By eliminating the minutia, social analytics helps businesses understand positive and negative sentiment, pinpoint top influencers, measure the volume of commentary and identify the geographic origin of comments across multiple channels.
Getting back to the Super Bowl…think about the value buried inside of those 13 million tweets – for advertisers, for psychologists, for the city of Indianapolis, for the NFL, etc.
And as the Twitter feed flies off the charts with major sporting events, one can only predict the same activity for the upcoming Academy Awards, especially with the commercials, the fashion faux pas, the glitz and glamour, the acceptance speeches and most importantly, the winners and losers.
Speaking of which, IBM, The Los Angeles Times and the University of Southern California Annenberg Innovation Lab have created the Oscars Senti-Meter to establish a model for measuring the volume and tone of worldwide Twitter sentiment to better understand moviegoers' opinions and customer trends.
So yeah, I guess Twitter matters. It might be noisy, but it’s chocked full of yummy goodness.
If businesses don’t check into Twitter and look around once in awhile, there’s a lot they could miss (and a lot of customers they could lose).
For more information on IBM Business Analytics: