In the competitive energy world of today, it is becoming increasingly important for energy companies to analyze what is being said about them on social media. With the help of “social data intelligence”, companies can monitor social media like Twitter as well as discussion forums, and respond to customer concerns quickly. The social
media analytics firm offers a social data intelligence software and published a fascinating report recently showing how utilities in Europe performed in social media in recent months.
From smart meters to social media, there is more data at the disposal of utility companies than ever before. Aside from the vast quantities of “social data” produced by networks such as Twitter, Facebook, and LinkedIn, there are also blogs, forums, and an ever-increasing number of online news websites. This information is generally unstructured with mentions of utility companies coming in all shapes and sizes: from direct mentions including the company name to replies to a company Twitter account or comments on a forum.
For utility companies, understanding trends and public sentiment online can have important business implications. It can help them monitor their own customer service performance, or prevent customers from switching, or to help combat a crisis when it occurs. New tools, known as Social Data Intelligence, can help companies make
sense of what is going on on the internet. It involves careful social listening through tracking the constant flow of social data from social networks, online news, blogs, and forums and applying in-depth social media analytics to analyze and order this information in a way that is a) easy to understand and b) provides insights that can
be used to direct decision making.
The company’s director of analytics talked about how the technology has now reached the level of being able to handle and process billions of data in minutes.
“Using infrastructure databases and language processing software, we can provide a comprehensive picture of what people think about a particular product or service.
Language processing systems interpret written and spoken text, try to think like a human being, differentiate between negative and positive emotions, and quantify how good or bad feedback is,” explained the startup’s founder.
He mentioned as an example that when a person loses his key and searches in the dark, he will only find what is actually there in that place. With comprehensive data collection, however, they can also discover things they would not have thought of before.
As he said, the raw material for their work is text. Public opinions are available, such as product reviews and comments that appear on blogs, forums, in the press or on Twitter for example.
“The language processing system breaks down these contents and finds out what brands, people, locations have been mentioned in a particular topic. It also examines what phrases are most common and what emotional manifestations have occurred.
Then our analysts work with this filtered data and connect the dots.” he said.
The project (project code: 2019-LPP2-006) operates within the scope of the Beneficiary Light (B-Light) Grant Scheme and Interreg V-A Hungary-Croatia CoOperation Programme 2014-2020.
SMAPWorks provides Social Media Analytics Reports and SMA Platform Services. Using Big Data and AI technology, the platform has the capacity to analyze millions of posts in one minute.
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