Business intelligence (BI) can be used in conjunction with social media to give organisations information such as demographics, search habits, and social behaviours. It can also be used to support a broad range of business decisions which range from strategic to operational.
"BI tech provides historical, current and future views of the operations of a business," said Fred Felton, social media and digital strategist at Falconscove, who will be presenting on BI and social media at the ITWeb Business Intelligence Summit 2017, at The Forum in Bryanston on 14 and 15 March.
He added that social media is one of the wonderful assets that companies can use to help with the BI operations. "Social Media also helps with data mining which also helps companies make better forecasts for future operations."
In terms of what companies are doing wrong in terms of BI and social media, Felton says some organisations are still afraid of using social media channels. "Some companies just use social media as a billboard. At the other end of the spectrum some companies are unsure what to do with all the data they get from social media and they do not really know where to use it in their BI strategies."
What should they be doing differently? According to him, if they are not on a social media channel yet, now would be the time to start. "Staff should also be very careful what they post online. For those that actively use social media they should be actively mining the data and studying the trends on social media. Trends can show them a great deal and I will be talking about this during my presentation."
Delegates can also expect to learn about social media, the various channels one can use on social media. They will also learn what to do and what not to do online. Felton will explain online trends and how companies can learn from trends and integrate them into their BI strategies and operations.
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