SOCIAL MEDIA ANALYTICS MARKET ANALYSIS

Market Challenges And Opportunities

Restraints

Increasing focus on attaining competitive intelligence by the enterprise is one of major driving factor for growth of the market.

The dynamic fluctuations in economic variables such as consumer sentiment, strong economic growth, increasing disposable income, and others are encouraging the enterprises to adopt competitive intelligence assessment to gain a strong foothold in the market. Large amount of user-generated content is available on social media sites, which can be accessed easily. For instance, tourists choose a restaurant based on Yelp reviews and ratings, as the data is easily available on Internet and can be accessed even at a remote place. Implementing social media content in competitive intelligence framework results into numerous business benefits such as improved decision making and operational excellency.  

The dynamic fluctuations in economic variables such as consumer sentiment, strong economic growth, increasing disposable income, and others are encouraging the enterprises to adopt competitive intelligence assessment to gain a strong foothold in the market. Large amount of user-generated content is available on social media sites, which can be accessed easily. For instance, tourists choose a restaurant based on Yelp reviews and ratings, as the data is easily available on Internet and can be accessed even at a remote place. Implementing social media content in competitive intelligence framework results into numerous business benefits such as improved decision making and operational excellency.  

Increasing volume of unstructured data is one of the major driver for growth of the social media analytics market. This large volume of data helps the sales and marketing department to evaluate impact of marketing campaigns, which in turn improve their business decisions, customer experience, and customer satisfaction. Therefore, companies are highly adopting social media analytics to extract insights from unstructured data available in the form of reviews, comments, blogs, tweets, instagram, and many more.