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Institute of Management Assignment

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Added on  2021-03-03

Institute of Management Assignment

   Added on 2021-03-03

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INSTITUTE OF MANAGEMENTNIRMA UNIVERSITYMANAGEMENT INFORMSTION SYSTEMS“DATA ANALYTICS IN SOCIAL MEDIA”MBA-FT (2018-20)Submitted to:Prof. Balakrishnan UnnySubmitted by:Group 7, Section CAish Agarwal 191307Deesha191320Megha Shah191333Sharsty MishraVarshil Modi191347191360Page 1 of 19
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Table of ContentsIntroduction to Social media analytics.........................................................................................................3Metrics to track...........................................................................................................................................3Popular tools...............................................................................................................................................4Importance of Social Media Analytics.........................................................................................................4Social media analytics in sports...................................................................................................................4Social Media Analytics In Politics...............................................................................................................6Social Media Analytics in Movies...............................................................................................................8Social Media Analytics in Banking and Financial Service Sector (B&FS)..................................................9Social Media analytics in Marketing.........................................................................................................11Social Media Analytics Tools....................................................................................................................13Conclusion:...............................................................................................................................................17References.................................................................................................................................................18Page 2 of 19
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Introduction to Social media analyticsSocial media is the collective of online communications channels dedicated to community-based input, interaction, content-sharing and collaboration. Websites and applications dedicated toforums,microblogging,social networking,social bookmarking,social curation, andwikisare among the different types of social media.Analyticsis the discovery, interpretation, and communication of meaningful patterns indata. It also entails applying data patterns towards effective decision making. In other words, analytics can be understood as the connective tissue between data and effective decision making within an organization. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application ofstatistics,computer programmingandoperations researchto quantify performance.Combining these two concepts, social media analytics provides information that could be utilizedas part of a variety of orders such as humanism, political science and geography. Social mediaand social networking are sometimes seen as principal moves in the essential assumptions ofsocial hypothesis. Political researchers can take after the online political event and the trading ofdata between groups of several vernaculars.Meanwhile, it is extremely hard to connect social logical understanding of social information tosocial media. For example, the idea of friendship barely applies to the idea of the following onsocial media. The first step in a social media analytics study is to examine which business goalsthe data that is gathered and analyzed will achieve. Once the business goals have been set,businesses should define Key Performance Indicators (KPIs) to objectively estimate the businessanalytics data.Metrics to track Business metrics derived from web-based social media analytics may include client involvement,which may be dictated by the number of engagements for Twitter posts, such as the number ofretweets and mentions of an organization's name. With social media supervision, organizationsPage 3 of 19
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can similarly observe the number of impressions, engagements and reactions on their socialmedia posts. Further advanced social media analytics includes estimation examination. This includes amodern characteristic dialect preparing machine learning calculations covering the content in anindividual's social media post about an organization to comprehend the sentiment behind thesame.Popular tools There are tools that help segregate information found in tweets and Facebook posts, andsubsequently. With content search, numerous social media examination devices will collect andstore the information. Some popular social media analytics tools are:1. Google Analytics2. BuzzSumo3. Brand244. Cyfe5. CoSchedule6. Sprout Social7. Keyhole8. Brandwatch9. Quintly10. AudiensePage 4 of 19
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