Guest post by Nathan Sage, PA Consulting Group.
Across the world there are about 1.5 billion conversations an hour on social media platforms. Social media users share 30 billion pieces of content – comments, opinions, information videos, podcasts and photographs each month.
Yet just 15 years ago, none of this existed.
This means businesses have potential access to huge amounts of data about their markets, customers and competitors. The challenge is to turn these social media conversations from simple noise into intelligence from which they can extract the insights, the understanding and the warnings that will create or protect value.