Metrics

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Why Your Company Is Probably Measuring Social Media Wrong

If a teenage girl retweets you in Japan, will your video go viral in Brazil? Social business expert Jerry Kane argues that it might — because social media is a complex system, where small or seemingly unimportant factors can converge to produce large or unexpected effects. The challenge for managers in the social arena is to consider the unexpected instead of the linear “X means Y” thought processes. Managers should pay attention to four characteristics of social media that can affect outcomes.

Veronika Belokhvostova, head of Global Business Analytics at PayPal.

Mining Data at PayPal to Guide Business Strategy

“The kind of people we hire want to know that their work is not gathering dust on some shelf, but has a real impact on the company,” says Veronika Belokhvostova, head of Global Business Analytics at PayPal. And indeed, business analysts there are collaborating with business leaders to answer the “what should we do next?” question.

Image courtesy of Flickr user mag3737.
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Using Facebook Helps Customers Solve Problems

MetroTwit is a tool that helps Twitter users track their Twitter feeds, see several columns at a time and easily tweet, reply or retweet. MetroTwit’s managers use Facebook to talk to customers and let them help each other with questions.

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Social Business By the Numbers

The general interest magazine Harper’s includes a famed feature every issue called the Harper’s Index. It’s a list of facts about anything and everything in the world. Here, we present our version of an Index highlighting the facts and stats we’re intrigued by in the world of social business. Among them: the contrast between the percentage of CEOs and CIOs who believe social media is important to their business.

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Image courtesy of Microsoft.

Can You Measure the ROI of Your Social Media Marketing?

Effective social media measurement turns the traditional ROI approach on its head: "managers should begin by considering consumer motivations to use social media and then measure the social media investments customers make as they engage with the marketers’ brands."

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New opportunities for data analysis

  • Blog

“We’re rapidly entering a world where everything can be monitored and measured,” Erik Brynjolfsson, director of the MIT Center for Digital Business, said in an article in The New York Times.

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