With billions of social media posts across millions of sites globally, Social Web nirvana doesn't come easy, particularly for the enterprise looking to extract structured insights and meaningful metrics to understand market needs and spot emerging trends.
Germany based Enterprise Software giant SAP gets it, and to help its customers tap into the pulse of the social web the company announced a partnership with Netbase and its natural language processing (NLP) engine to read and categorize social media posts.
Social Media Analytics to Global Customers
SAP will resell the NetBase "Social Intelligence" solution that includes its advanced NLP engine providing insight and analysis solutions currently being used by some of the top companies around the globe.
Coca-Cola was an early adopter of the NetBase technology, and market strategy and insight VP Stan Sthanunathan said, "The companies that can listen carefully to what the market is saying, understand these perceptions clearly, and act confidently are the ones that will gain competitive advantage. Hundreds of solutions claim to capture consumer sentiment, but NetBase stands alone in its ability to help us get to the bottom of opinions, emotions and behaviors."
A Reliable Way to Make Smarter Business Decisions Faster
The solution offers real-time social insights, that include these features:
- Rapidly monitor and understand market reaction to new product launches
- Quantify market perceptions about products, services and companies
- More accurately identify strengths and weaknesses in competing products
- Track the success of marketing campaigns
- Discover insights and uncover trends in consumer preferences
Scalable Social Intelligence Platform
The group said this solution will provide a scalable social intelligence platform to aid in understanding the unquantifiable: market sentiment, perceptions and even passion. The SAP cloud-based solution offers the ability to process more than 95 million social media posts per day using the advanced NLP technology.
The engine can read and categorize "...each one of these posts according to the opinions, emotions and behaviors that the market is expressing," the company said. Its ConsumerBase, or social intelligence warehouse, keeps more than one year's worth of this normalized data available on demand, serving as a kind of collective memory to add context to the analysis.
The solution also provides a built-in dashboard to tap into ConsumerBase delivering up-to-date metrics, that offer a detailed breakdown of opinions, behaviors, sentiments, passion intensity and key conversation drivers, that can be compared to the competition and offer trending data over time.
The Social Media Analytics, allows direct ConsumerBase searching and on-the-fly analysis on any subject of interest, applying multiple filters based on time, demographics or insight types and view individual source comments.