Digital Data Mining Goes Social
Facebook is all about sharing—photos, news, and ideas—and now it’s sharing something with marketers: valuable data.
Launched earlier this year, Facebook’s Topic Data tool will help marketers tap into what the social network’s users are saying and liking. This will allow brands to easily get feedback on their products and gather information to perfect their campaigns, according to a report in The Wall Street Journal.
But Facebook isn’t the only one getting in on the action.
This year the Marriott School launched a program to help second-year MBA students get more experience mining digital data. Student teams worked with Adobe, IBM, and Kohl’s. One team even followed Facebook’s social lead: the group monitored chatter about airline companies on Twitter to develop a customer satisfaction scale.
“Right now companies understand that social media exists, but we want to show that negative consumer comments actually effect their bottom line,” explains MBA grad Tori Dumke.