Competitive intelligence plays a crucial role in defining the strategies of any company. Marketers have long been used the web to gather competitive intelligence. However, with the billions of users in the social networking sites, marketers can no longer afford to ignore the deluge of information generated every moment about themselves and their competitors. Especially after the advent of the advanced analytics, it’s possible to precisely extract the desired information by dint of data mining and other sophisticated tools. Its possible to employ different metrics and analytics to gain an insight into the competitors’ popularity and acceptance among the customers. Specific analytical tools exist to explore consumers’ attitude and purchase intention of their brand vis-à-vis their competitors’ through zettabytes of data.The attached paper highlights the different ways through which the corporate in the present era can exploit the social media to generate competitive intelligence.
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Author: Prof. Tuhin Chattopadhyay, Professor, FIIB
See his Linkedin Profile here