How does social media analytics create value?
The surge of interest in big social data has led to growing demand for social media analytics (SMA). Having robust SMA can help firms create value and achieve competitive advantages. However, most firms do not always know how to embrace big social data to establish a path to value. This study addresses this key question to deepen our understanding of how different types of SMA can be applied to create value. Specifically, the findings show the significant uses of opinion mining or sentiment analysis, topic modeling, engagement analysis, predictive analysis, social network analysis, and trend analysis. Finally, the study provides directions for the challenges and opportunities of SMA to maximize value.
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