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The Rising Trend Of BI And Social Media

by Lyndsay Wise, President, WiseAnalyticsMonday, January 17, 2011

The announcement of myDIALS Online Marketing Module helps show the growing importance of social media analytics and its integration within BI offerings.  As a preview, myDIALS has created a ready-made dashboard application that provides access to statistics related to twitter and facebook while integrating the affects of Google Adwords and Google Analytics. The general purpose of the new offering is to enable marketers to identify the level of social networking participation and to tie marketing dollars to lead generation sources and sales.  Because the value of marketing initiatives can be hard to quantify, integrating marketing with online analytics gives marketers better visibility into how their company is performing and whether that performance relates to the activity and marketing dollars spent on social networking concepts.

With the ability to integrate various data sources into dashboards, many organizations are beginning to look at adding social networking analysis on top of their current BI use.  Whether or not social media is actually enabling marketers to do a better job remains to be seen, as some of marketing success really is guesswork.  However, broader visibility and access to external data that expands beyond Google Analytics will provide a great benefit to organizations as they learn how to integrate new ways of doing business into traditional marketing metrics. 

Looking at trends within the BI market specifically shows that more solution providers are looking at expanding the types of data sources integrated within dashboards and the ease of use in which people interact with their dashboards.  Therefore, as companies start integrating dashboards into their daily use and begin looking at broader social media interaction, the ability to integrate a greater variety of data sources into a central location will help increase visibility into marketing opportunities and overall performance.

Although social media data on its own provides limited value, the ability to combine various aspects of business into a centralized location is what gives value to BI and dashboard use.  With the added ability to see how sites like twitter, linkedIn, and facebook can provide business benefits, organizations can plan social networking marketing initiatives while taking into account overall business performance.

About the Author

Lyndsay Wise is an industry analyst for business intelligence. For over seven years, she has assisted clients in business systems analysis, software selection and implementation of enterprise applications. Lyndsay is the channel expert for BI for the Mid-Market at B-eye-Network and conducts research of leading technologies, products and vendors in business intelligence, marketing performance management, master data management, and unstructured data. She can be reached at lwise@wiseanalytics.com. And please visit Lyndsay's blog at myblog.wiseanalytics.com.

(Copyright 2011 - Dashboard Insight - All rights reserved.)

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