As described in the last two blogs, Big data comprises volume & variety. But it also includes velocity and another key characteristic that will be described in this
and the next blogs. In this blog we examine the fact that big data gets even bigger when you start to consider timing.
It’s not just Volume and Variety, it’s velocity. The speed with which data is coming in. ERP data is updated every second of the day by multiple users across the company. POS data can come in daily, weekly or monthly. Sometimes more often if your directly able to download information from retailers portals. Pricing information and zip code information might come in quarterly or annually.
On-line data? That’s an entirely new story. Click stream analysis is happening constantly. Twitter feeds and hash tags happen sporadically throughout the day. For smaller companies new “mentions” might only happen a few times a month. Regardless of frequency, these comments still need to be monitored.
Larger companies, with more popular brands and a wide customer base, will have regular
comments about their products throughout the day. Depending on the number of brands you have, you may have hundreds of “mentions” per minute.
A large consumer good’s company must have the ability to respond to negative sentiment almost immediately. At the very least, your social listening group should be checking your facebook page, at least every half hour to check for negative sentiment that could be on your own Facebook page (if not, this needs to change).
Negative comments on your Facebook page should not be there long enough for others to
I was recently at a customer who had just implemented a “Social Listening” team about a month earlier. The team consisted of about a dozen people. During the meeting, I logged on to their Facebook page and pointed out to them that they had a very negative comment right at the top of their Facebook page, and that it had been there for over 2 hours. In those 2 hours, that comment had received over 100 “Likes” and several other negative comments were posted along with the first one. Although I advised them to address it immediately, the comment amazingly, remained on their Facebook page throughout the entire three hour meeting. I
could not believe that no one in the room logged in to fix the problem right away, even when I made them aware of it and told them they should address it.
Anyway, had this comment been caught earlier, they could have deleted the comment and
blocked the “Follower.” I actually believe that post was made by one of their competitors. The reason I thought that is because it was a very generic, negative comment. Completely unrelated to a bad experience or recent even. Most genuine negative comments are related to a bad experience or recent event.
Social media has made it very easy to influence a company’s reputation. Managing your
“Social Reputation” is more important today than ever before. But to manage it, you must be aware of it and have the ability to respond.
We recommend tools that will help make you aware of negative comments by automating the monitoring and receiving of alerts when your company or brands are mentioned. Once you are aware of what's being said, you can begin to manage your social reputation. You can then take it to the next level and start analyzing it so you can make those comments "work" for you.
If you can take those comments and analyze who is saying what, and where that sentiment is coming from, you can start to leverage that social media data to your benefit. Imagine if you could identify where negative sentiment is coming from, read the associated comments and call the store manager to let them know that your customers can't find your product or perhaps the retailers customers aren't coming in because of untidy conditions. Or perhaps there is a picket line that is costing them more business than they realize.
Social media can and should work toward your benefit. It can help save time. It can make you aware of conditions where people are unhappy with you, your retailer, your supply chain, your new marketing, etc.
The timeliness of these comments, clicks, likes, etc are rapid. But that doesn't mean they should be ignored. There are ways to monitor and integrate this data for your benefit. And if done correctly, the benefit can be great.
So, most companies stop there and define Big data as Volume, Variety and Velocity. I add one more key component to “Big Data.” That’s Complexity. Watch for my next blog, “Big Data Part 6” to learn how “complexity” factors in to big data.