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June 2011

Study: Social media crucial for firms seeking customer intelligence

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Companies looking to improve their operations intelligence and other business intelligence capabilities are turning to social media for help, according to a study from Jive Software.

"Today's executives realize that the new way to business is here and that they must have a social strategy or risk falling behind. The results of this survey underscore the importance and growth of the social business market," he said in a statement.

Two-thirds of executives surveyed said that social media will be a transformative influence on the way business is done, both for performance intelligence and general communications tasks. Additionally, strong majorities said it was important to stay on top of these capabilities, at the risk of falling behind the competition.

Experts say that a central concern for businesses, once they have clearly identified the type of target data to be used for these efforts, is to ensure that all stakeholders in the process have adequate access to the information and the opportunity to collaborate and discuss their findings with their peers.

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