Applying Social Media Intelligence for Successful Business Management

Abstract

Marketing trends and competitive information is needed for clear decision making about what products to develop for what customers, at what cost, and through which distribution channels, reducing the uncertainty that a new product/service development always brings. There are several characteristics that describe the quality of information that will allow the analysis of the value of the information used. Information is an important aid in the decision-making process and must be of quality to improve its value. Social media intelligence allows the knowledge of competitors' moves and the analysis of trends from the communications exchanged in the networks of individual consumers, making it easy for companies to develop solutions according to their clients and prospects desires. Learning how to extract quality, unbiased, valuable information from these social tools is the aim of this chapter.