And for example, if you start thinking about viewership pattern, how should I be
spending different kinds of money on different types of ads in these TV shows.
So, broadly, these kinds of questions can be answered by getting information about
audience engagement, and that's what companies like Nielsen,
companies like Kantar Media, that's what they're doing when they collecting
the different types of data, either through radios shows or for TV shows.
Now, we'll talk about social media analytics.
So social media is becoming extremely popular.
There are many, many people on Facebook, Twitter, you name the different formats,
people are there talking about brands, talking to each other and so on.
Clearly, when you think about it yourself as a brand manager, you start
thinking about what are customers talking about You need data about social media.
And there are companies out there that will help you get that data.
For example Hoodsuite is a company that does a lot of information and
data collection on things going on Facebook or Twitter.
So it's a platform that collects that data.
Sprout Social is another example.
So there are many companies out there that are collecting information on what
customers are saying and doing on social media.
So what are the kinds of questions that a manager can answer
using this type of data?
The first one is just audience engagement.
If I'm running a campaign on Facebook.
If I'm running a campaign on Twitter.
How many people are responding?
That gives me a sense on how many people are responding.
That gives me a sense on how good that campaign is.
Another example might be more along the lines of thinking about brand mentions.
Is our branding mentioned more times than our competitors?
What's our shared voice?
So for example, as we just saw, we could track, for instance,
how many times Wharton came up in the last month on Twitter.
You can start doing the search for
your own brand and see how it compares to your competitors.
You could also start thinking of doing sentiment analysis.
So it's not just about mentions and how is it being mentioned.
Is it being mentioned in a positive way?
Is it being mentioned in a negative way?
How is it being mentioned?
And then you can start thinking about thinking, for
instance, what might be going on in the economy, or different kinds of issues
together with dimensions to see how they might change over time.
So social media data is very very powerful.
There are companies out there that can help you collect this type of data to see
how your company's trending on social media as compared to your competitors.
So now we'll talk about another type of data.
This is broadly categorized as web data.
This will be basically all of the different kind of searches you're doing on
the internet, all the different web sites that people might be visiting, and so on.
Of course there's a of information out there.
First thing is you can start looking at their own company website and
seeing what customers are looking at, but at the same time you want to learn what is
happening in the marketplace and that's where these other companies are coming at.
For example Compete.com is a website that will allow you to look at what
people are looking at at different websites.
There are of course many other companies that do the same thing.
For instance, Comscore is another company that collects this type of data as well.
So are many other companies.
This is another example of lots of other companies that
basically collect information on what are people searching for
with websites they're visiting and so on.
What does a data steam look like?
Again, I went to compete.com and looked for
the type of searches and type of people who are coming in on the Wharton website.
That's what it looks like in the last month.
So it gives you information, on for instance, unique visitors and so on.