TakeAway: IBM thinks so. That is why, IBM recently announced a new product, Cognos Consumer Insight, to analyze social media data to see how a firm and its products are fairing among consumers.
IBM has also partnered with the Yale School of Management to address the gap of data analytical skills among business leaders …
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Excerpted from Gigaom, “IBM targets the future of social media analytics,” April 28, 2011
IBM announced a new product, Cognos Consumer Insight, to help customers perform sentiment analysis of social media data and a new program with the Yale School of Management’s Center for Customer Insight to train students in advanced data analysis skills.
With businesses increasingly using social media as a way of connecting with customers, and with an industry-wide need for analytics skills, both the product and project are well-timed …
According to Deepak Advani, IBM’s VP of predictive analytics, there’s a lot of value in performing text analytics on data derived from Twitter, Facebook and other social forums to determine how companies or their products are faring among consumers.
Cognos lets customers view sentiment levels over time to determine how efforts are working, and skilled analysts can augment their Cognos Consumer Insight usage with IBM’s SPSS product to bring predictive analytics into the mix.
The partnership with Yale is designed to address the current dearth of analytic skills among business leaders … Advani explained that within many organizations they’re not using analytics at the point of decision or across all their business processes. Advani says partnerships like those with Yale will help instill the thought process of using mathematical algorithms instead of gut feeling…
We’ve been talking about the need for advanced analytics capabilities for a while now — highlighted by the high demand for data scientists — but the need spans all levels of business users … U.S. Bureau of Labor has said analytics jobs will increase 24 percent over the next eight years.
Edit by KJM
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