Printable Solution Summary
The marketing of brands and products has dramatically changed. Messages are disseminated through a variety of channels: printed media, radio, TV, blogs and forums, web sites, twitter and social networks.
The STATISTICA Enterprise solution for Social Media Mix Optimization provides an integrated system that evaluates response from the market and optimizes conversion of this response into sales. Looking from a different perspective, it analyses performance of different channels and optimizes related expenses.
An example of this functionality is provided in the following example of Demand Forecasting.
Social media response is obtainable in many formats and aggregations: from the users count, number of views, friends, or “Likes” that can be available daily, hourly, or even by the minute, to time stamped customer reviews that may not be updated as frequently. Configuring and maintaining all data sources in STATISTICA Enterprise and numericizing text fields with STATISTICA Text Miner combined with STATISTICA ETL (Extract, Transform, Load) functionality helps to solve this challenging task in an efficient and automated way.
- Powerful analytics tools: STATISTICA provides you with an arsenal of the most powerful data and text mining tools, which build accurate predictive models for linking variables from different sources.
- Enterprise system: This system provides the robust and scalable server backbone for automating the analytics, linking marketing expenditures to consumer sentiment, and linking consumer sentiment to expected demand (and sales). STATISTICA Enterprise also provides the display layer to manage large numbers of channels via efficient and hierarchically nested dashboards that will alert/alarm when undesirable trends are detected.
- Optimization tools: Powerful “what-if” scenario analysis identifies the optimal combinations of expenditures for different advertising and marketing channels. Predictive models will be built to establish confidence regions around the formula for the optimal mix to empower marketing or product managers to evaluate risk/reward scenarios, and ultimately, turn the buzz into sales.
- Advanced Extract, Transform and Load functionality: ETL brings all data sources together
- Monitoring and alerting server: provides automated and proactive alarms on changes in customers behavior.