When interpreted via a sensible methodology, data becomes intelligence. When viewed through the lens of real consumer behavior, intelligence becomes wisdom. Social Business Intelligence is all about wisdom – the wisdom to listen, to interpret, and to act authentically and from the outside-in, displaying fidelity to the expressed wants and needs of the billion-plus consumers who offer opinions online.
In traditional research, companies elicit feedback through periodic surveys and then enhance their findings through focus groups. Both have inherent limitations. Surveys are episodic and offer inauthentic information since the questions themselves alter the answers given, creating a distance between reality and what is articulated. Focus Groups suffer from the most human of all issues; the loudest person in the group wins and sways others through a combination of charisma and decibels. In both cases, the information rendered is faulty. When companies combine this with internal business data, they get the Business Intelligence they use to make fundamental decisions about product development, honing existing services, and where and how much to invest. Unfortunately, traditional BI is imperfect, making acting on feedback a game of guesswork. Million-dollar decisions should be based on real-time and authentic data, not “spaghetti on the wall.”
Social data offers a way out of the conundrum. As consumers offer opinions, expose their likes and dislikes, and express emotions and sentiment online, they produce a treasure trove of intelligence that can be translated into wisdom with the right methodology and technology. Socializing the feedback process offers advantages instantaneously: you get real feedback in real-time and can make data-driven decisions on a dime, translating feedback into informed action at lightning speed.
Underpinned by technology and with a team of smart people ready to listen, interpret, and act, Social Business Intelligence can offer you unparalleled advantages as you make new product decisions, develop in new markets, and abandon unprofitable areas in favor of growth. When you make advertising and media decisions, and socialize your systems and incorporate social data into everything you do, your decisions systems are enhanced and provide a more immediate ROI. You make the right media decisions and hone your products and services in accordance with the articulated needs of your audience.
Classic Business Intelligence yields data from the inside out. Social Business Intelligence works in real-time and leverages powerful technology to offer you the outside-in view. Now there is no more excuse for navel-gazing. The outside world is now available to you!