Research Overview

Social media analytics is the process of evaluating and examining data about conversations on social media platforms to understand customer preferences and gain competitive intelligence. Social media analytics can be predictive, prescriptive, or descriptive and help businesses understand different parts of a problem, thereby enabling them to tackle the issue in a strategic manner. When combined with other voice-of-the-customer (VoC) data (obtained from surveys, reviews, and other sources), social media analytics can be leveraged to inform a business’s marketing, sales, service, and engagement initiatives and strategy to offer fulfilling customer experiences.

Despite these benefits, social media analytics is not utilized optimally by most businesses. This is because the benefits of social media or its analytics are not known too well, or the data is too vast and unstructured.

This report discusses some of the innovative use-cases of social media and social media analytics to boost customer journeys throughout various stages. In addition, it explores how the social media analytics market is evolving with transformative technologies such as artificial intelligence (AI), machine learning (ML), competitive intelligence, sentiment analysis, and more. It also discusses key players in the market, future trends, market growth drivers, restraints, and predictions around social media analytics investments in-depth and provides relevant recommendations for businesses.