Fashion, Politics and the Social Customer
Brittany Detamore 270006ARTU firstname.lastname@example.org | 2013-08-01 12:19:20.0 | Tags:  analytics business-analytics fashion social-analytics | 1 Comments | 5,395 Visits
Guest post by Rajesh Sahni, Senior Solution Manager for IBM Global Business Services
Connect with Rajesh on LinkedIn www.linkedin.com/in/sahnirajesh/
Do you follow Kristen Stewart or Kate Middleton? Their wardrobe has something in common with Obama’s re-election. It is called social analytics – a field related to analyzing vast amounts of data on people’s behavior, sentiments and patterns. Many factories, from China to Korea, Taiwan, India and a number of other countries, run around the clock as soon as a new fashion or trend catches on. The data analysts mine through vast amounts of data related to raw material availability, logistics, customer segmentation and the geographic impact of a new dress. This information is used to align production at a wide range of markets & price points to gain traction with a variety of customers in a globally connected society.
Impact of Analytics
During the presidential re-election, the Democratic National Party (DNP) asked over 100 million people to donate $4 through email, Facebook, and Texting. With a single click, a pre-determined bank withdrawal or credit card transaction was completed in less than two seconds. While a seemingly unconventional approach at the time, the DNP received a positive response and ultimately raised more than $350 million in campaign support. The average cost to reach and connect with the right customer can be significant especially when you still rely on conventional media channels like snail mail, phone calls and door-to-door interaction. Combining the right analytics across selected social media channels enabled the DNP to focus on target segments receptive to their mission and willing to support their cause.
Much credit for the success of the Obama campaign can be attributed to Dan Wagner, Chief Analytics Officer (CAO). CAO is a relatively new term and I am certain many of you have not interacted with such a person in your career yet, but you most likely will moving forward. Analytics thrives on data; they go hand in hand. If data is king then analytics is the king maker. And the CAO makes it all understandable. Data in changing times covers everything from structured data, text, video, stream data and sound. The right information integrated with various data types and analyzed at the right time in the right amount is critical to better decision-making. Analytical management is necessary to appreciate the value of indicators from vast data sets and leverage it for their day to day influence on company performance & employee satisfaction.
IBM, along with core customers and its Business Analytics and Optimization group, focus on investing millions in this market segment to better manage big data and build customer insights for the socially inter-connected customer. To keep up with learning and adaption of emerging trends on social customers, follow IBM Big data on Linkedin, Twitter and Facebook. And for even more learning, check out these articles by Judith Hurwitz, Forrester report and Big Data Republic.