Social Business Intelligence
Business intelligence must look at the whole social ecosystem; http://eicker.at/SocialBusiness
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Gerrit Eicker
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Gerrit Eicker
Social Business: Strategy, Measurement, Engagement
Social business: harnessing intelligence, measuring community health, moving to engagement; http://eicker.at/SocialBusiness
Gerrit Eicker
Social CRM (SCRM)
Gartner: The market for Social CRM [SCRM] is on pace to surpass $1B in revenue by year-end 2012; http://eicker.at/SCRM
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Gerrit Eicker
Wikipedia: “Social CRM is use of social media services, techniques and technology to enable organisations to engage with their customers. As an emerging discipline, interpretations of Social CRM vary, but the most frequently quoted definition is from Paul Greenberg: ‘Social CRM is a philosophy & a business strategy, supported by a technology platform, business rules, workflow, processes & social characteristics, designed to engage the customer in a collaborative conversation in order to provide mutually beneficial value in a trusted & transparent business environment. It’s the company’s response to the customer’s ownership of the conversation.‘ – Social CRM is often used as a synonym for Social Media Monitoring, where organisations watch services like Facebook, Twitter and LinkedIn for relevant mentions of their product and brand and react accordingly. However, this is too narrow an interpretation, as Social CRM also includes customer communities managed by the organisation themselves.”
Greenberg: “What this means is that SCRM is an extension of CRM, not a replacement for CRM. Its a dramatic change in what it adds to the features, functions and characteristics of CRM but it is still based on the time honored principle that a business needs its customers and prefers them profitable and that same business needs to run itself effectively too. – The transformation that’s sparked the need for Social CRM seems to have occurred in 2004. It has been a social revolution in how we communicate, not a revolution in how we do business per se. All institutions that humans interact with have been affected by things like the cellphone/smartphone, the new social web tools and the instant availability of information in an aggregated and organized way that provides intelligence to the person on the street, not just the enterprise.”
Gartner: “The worldwide social customer relationship management (CRM) market is forecast to reach over $1 billion in revenue by year-end 2012, up from approximately $625 million in 2010… Worldwide social CRM is projected to total $820 million in 2011. … Until recently, many companies have treated social CRM as a series of experiments and tactical purchases. Few have a social CRM strategy or established metrics to measure its effect on hard business results. Different departments, employees and managers implement different types of applications for different purposes… The need for integration will favor more-traditional CRM vendors that add social capabilities. Integration did not matter much when enterprises were just experimenting with social CRM… [C]ompanies are asking for the integration of social data with other customer data within sales, marketing and customer service processes, which will require the integration of social CRM with applications such as a knowledgebase for customer service, multichannel campaign management, sales force automation or e-commerce, Web content and Web analytic applications, master data management, and even back-office applications.”
TC: “While the market is clearly competitive, Gartner says that certain factors can help differentiate Social CRM offerings, including interoperation between public social networks and internal collaborative communities, integration with established CRM products, analytics and more. – There’s no doubt that there is growth in the social enterprise in general. And there’s a lot of movement already taking place in the space. Jive just filed for a $100 million IPO, and Salesforce is making big bets on the space with Chatter.”
Gerrit Eicker
Software
Andreessen: Software is eating the world – virtually and in the physical world; http://eicker.at/Software
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Gerrit Eicker
Andreessen: “This week, Hewlett-Packard (where I am on the board) announced that it is exploring jettisoning its struggling PC business in favor of investing more heavily in software, where it sees better potential for growth. Meanwhile, Google plans to buy up the cellphone handset maker Motorola Mobility. Both moves surprised the tech world. But both moves are also in line with a trend I’ve observed, one that makes me optimistic about the future growth of the American and world economies, despite the recent turmoil in the stock market. – In short, software is eating the world. … Why is this happening now? … Over two billion people now use the broadband Internet, up from perhaps 50 million a decade ago, when I was at Netscape, the company I co-founded. In the next 10 years, I expect at least five billion people worldwide to own smartphones, giving every individual with such a phone instant access to the full power of the Internet, every moment of every day. … Software is also eating much of the value chain of industries that are widely viewed as primarily existing in the physical world. … Companies in every industry need to assume that a software revolution is coming. This includes even industries that are software-based today. … Instead of constantly questioning their valuations, let’s seek to understand how the new generation of technology companies are doing what they do, what the broader consequences are for businesses and the economy and what we can collectively do to expand the number of innovative new software companies created in the U.S. and around the world.”
Gerrit Eicker
Social Payday
McKinsey: Companies using the [Social] Web intensively gain market share, margins; http://eicker.at/Payday (via @netzoekonom)
Gerrit Eicker
Data and Predictive Analytics
O’Reilly: Calculus of data, predictive analytics, and why mobile sensors are central to the future and 2011; http://eicker.at/1x
Gerrit Eicker
Real-time Marketing
Dumenco and Ghuneim on Trendrr business intelligence: Why real-time marketing matters now; http://eicker.at/q
Gerrit Eicker
Twitter Visualisation
Clark: Standard ways are not adequate when you are trying to mine a richer data space [like Twitter]; http://j.mp/d8ZiQV
Hinchcliffe: “As businesses begin looking strategically at big data as a way to improve their business performance, an important element of their efforts will be in the burgeoning capability of social analytics… 1. Social media has become the primary creative channel for new information. 2. Business intelligence must look at the whole ecosystem. 3. New techniques are required for social analytics as well as to handle the volumes of big data that result. – While the field is somewhat new, as social analytics has only had a real run-up the last two years, some obvious strategies have started to emerge. For now, most organizations will be trying to build basic social BI capabilities and get experience with them…
There are other ways to apply social BI but these will be the most common ones for the majority of companies building or acquiring such capabilities.”
Camargo: “Creating successful online communities is still more art than science, yet techniques and frameworks are now emerging to turn social business into a real discipline. This week we take a look at a new case study that explores metrics that can measure the intrinsic health of communities instead of looking purely at size as the defining barometer. … Conventional wisdom tells us Community Owners should rely on two key metrics to track the success of an online community: Membership (number of registered users) and participation (number of active users in a given time period). That’s well and good but what about measuring the health of the community, not just its size? … Each and every community out there will have its own particular intricacies and you organization will surely require you to adhere to its own KPIs and reporting frameworks. In our case, the content contribution pyramid-inspired reporting model was a very valuable addition to our reporting toolbox. This KPI enabled us to understand variations in context, purpose and participants within each of our communities while keeping an eye on overall growth trends.”
Hinchcliffe: “When we look back at the first decade of the 21st century, it will be obvious that a few momentous changes in the business and computing landscape occurred. Of these, one of the most profound has been a decreasing emphasis on systems of record and the move towards what are called systems of engagement. … Systems of record have matured to the point where there’s only a little strategic advantage to having your own unique capability. Instead, the discussion on strategic technology has shifted to the other 40% of what businesses in industrialized nations do: Knowledge work. … Thus, using technology to enable knowledge work as a strategic capability has sparked a growing interest in improving what are increasingly known as systems of engagement. … For enterprises, ground zero for the transition to systems of engagement in many companies often centers around any pending update of the corporate intranet. … What’s also clear about the changes taking place in businesses today is that systems of record are not going away. … New systems of engagement are now receiving considerable attention in the forms of online communities, crowdsourcing, Social CRM, open APIs, and many other means as a way to connect customers and business partners together to achieve useful outcomes with the most cost-effectiveness and largest result.“