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Generate Accurate Data Analytics for Making Social Media Marketing Decisions

Harness real-time social data to design customized social media marketing strategies

Measuring ROI on marketing dollars

With over 51% of the world’s population using social media, spending an average 144 minutes per day and exchanging 2.5 Exabyte of social data every second, social media has turned into a marketing powerhouse brimming with business, customer, and competitive intelligence.

To get noticed in the hyper-dynamic social media is not easy and traditional marketing methods do not work.  Developing data-focused social media marketing strategies is the only way out.

Companies have begun to harness this real-time social data to design customized social media marketing strategies for various social media channels, such as Facebook, YouTube, Instagram, Twitter, etc., and for advertisement platforms such as Google Adwords, and for site performance using Google Analytics.  

But, how do companies measure the ROI on marketing costs incurred on multiple social media channels?

” Getting noticed in the hyper-dynamic social media is not easy and traditional marketing methods do not work. “

The need for a data integration and analysis tool

A centralized data integration and analysis tool is the need of the hour.  CES Ltd. has developed one such tool – Social Data Integration Utility (SDIU).

SDIU enables companies to measure the ROI of all social platforms on a single dashboard.  This social data is collected and stored in relational format and easy to develop dashboard with any data visualisation tools to measure ROI and monitor the performance of each product across social media channels.

This solution provides both holistic and comparative analysis of all social platforms at a single glance.    The utility is a ready-to-use application that offers both speed and customization without compromising on quality. 

The schedulable ETL command in-line utility with multi-data support functions as an accelerator and provides both holistic and comparative analysis.

Key features of the OS independent utility

CES solution extracts and stores all social analytics data into a common repository.  The technology stack used for this accelerator includes REST API, Graph API, Python, MS SQL Server, and a data-visualization software. 

  • Configurable – Easy and secured configuration of access details, log retention and notification
  • Logging – Detailed local text logging for easy traceability and debugging
  • Auditing – Detailed extract information in raw format on daily basis
  • Self-Purging Logs/Audits – Based on configuration, logs and audit data got purged
  • Email Notification – Supports to send the email about the run status
  • Schedulable – Easy to configure in windows task scheduler and as a CRON job

CES’ Social Data Integration Utility solution empowers companies to achieve a holistic view of their social media platforms and customize their social media marketing initiatives in reaching out to targeted customers. For more information or a conversation on how CES can implement SDIU solution to help strategize social media marketing, please contact us at sales@cesltd.com.  For additional perspectives on the benefits of the accelerator, refer to the blog –https://cesltd.com/accelerating-the-social-iq-of-an-organization-using-bi-and-analytics/

Accelerating the Social IQ of an Organization Using BI and Analytics

A peak into a technology tool for the social savvy Chief Marketing Officer

Consumer data: A social currency

Over the last decade, social media platforms like Facebook, Instagram, Twitter, YouTube, etc. have fundamentally changed the way we interact with others in our personal and professional lives. Our interactions have become less social (in a traditional sense) and more digital, leaving behind troves of data that is up for grabs as a new currency. How effectively your business is banking this social currency?

Social media platforms make billions of dollars because we (consumers) cannot seem to get enough of “social dose” at every chance we get. Rightfully and consequently, brands need to be where their ideal customers hangout. Ten years ago, most of us would have been quite puzzled if someone introduced themselves as a ‘social marketer’. Now earning an MBA in Social Media Marketing is a real deal.

The challenge for CMO

Unless your organization is lucky-enough to have a marketing budget that has 1 followed by 6+ zeros (i.e. over $1 million), you may not have a social media department and the latest (and expensive) social media measurement tools and business processes.

Understandably, then your social media monetization formula may look something like this:

Hand-pulled analytics data
+
Gut Feeling
+
 Trial & error learning
=
Hope of maximizing ROI on social spend

Such a formula may do the trick for some and keep the ROI in a positive territory. However, there will be plenty of missed opportunities that should be availed. This is where CES can help elevate your social media game to the next level within your budget constraints.

A good solution does not have to be super complex or cost prohibitive. The CMO has help!

A tool with social sensibility

CES recently helped an ecommerce client develop a technology framework and tool for monitoring social media channels. Its Business Intelligence (BI) services division developed a configurable multipurpose tool to gauge consumer ratings for the client’s products. 

Social data integration simplified

The easily customizable tool eliminated the need to manually log into different social media platforms like, Facebook, YouTube, Twitter, Instagram, etc. to capture needed data and insights.

A simple visualization layer made it easy for the business user – the product team – to gauge the market reaction and take appropriate actions.

This turned out to be an excellent tool for social media analytics, and in refining marketing strategy and measuring the outcomes.  It helped the marketing team maximize ROI by running targeted promotions and offering discounts based on the market sentiment. One could say that the tool helped build Social Quotient of the product and the organization.

The tool enabled near real-time social analytics, centralized social data visualization, and aided in dynamic pricing/positioning of the products. 

The technology stack used for this accelerator includes application interfaces, relational database, and data-visualization software. Consideration was given to open source technologies to save cost.

Other applications

CES’ social media accelerators can be customized for organizations across different industries that rely on social media analytics in a standalone manner, due to budget constraints or otherwise. A customized tool can be hosted on the cloud and delivered in a SaaS model via a portal. It can further be enhanced to calculate Consumer Sentiment Score to gauge positive and negative reactions/comments to products/services of a company in the social media.    

Please stay tuned for our future articles on how analytics for individual social platform can be enabled and leveraged.  For more information or a conversation on how CES can develop BI systems to support your marketing and product teams, please contact us at sales@cesltd.com.

Leveraging Data Aggregation and Process Automation Capabilities for Pricing Advantage

The AI platform that helped a retailer gather competitive price intelligence from the market

Price intelligence: A business imperative

It is always a war of prices in the e-commerce world, more so now than ever before. Irrespective of the size and type, e-commerce companies need valuable market intelligence to ensure market share, optimum stock levels and, most importantly, profitability.

Price intelligence is the timeless need for any business.  Companies need to have this knowledge on real-time basis.  They must also maintain differentiation as value leaders but, at the same time, ignore rogue sellers. Dynamic market price analysis is the key for this business need, and it must be performed as often as possible in reaction to real-time market changes. 

Process automation to the rescue

In the retail space, especially, in the online market, data aggregation by combing the web is a feasible option.  This being an oft-repeating activity, automation of the process becomes the key aspect of the solution.  The data intensive and automated processes can further be strengthened by building intelligence in the automation algorithm for weighting key competitors higher over less important ones.  This method also ensures that the sellers that use click-baits or the new sellers with no significant online sales record are ignored or weighted less by the algorithm.

A CES customer, which is a leading online auto parts retailer in the US, was facing the above situation and wanted to rework on its product pricing strategy to maximize sales and stay ahead of the competition. CES conducted a detailed analysis of the customer’s new pricing strategy and developed an intuitive AI based solution that used data aggregation and process automation to crawl into competitor websites, acquire product pricing details, and rank the websites based on the weights attached to each competitor.

Customers must maintain differentiation as value leaders but, at the same time, ignore rogue sellers.

CENTIPEDE: AI based process automation platform by CES

TO implement the solution, CES developed CENTIPEDE, an intuitive AI based automation platform, that generated pricing intelligence using data aggregation and process automation methods. 

Data aggregation is the process of collecting information from disparate sources to perform statistical analysis and generate meaningful insights.

CENTIPEDE is a low-code/no-code AI platform with a simple and user-friendly GUI. The user can drag and drop the data nodes, connect the processes and, on a click of a button, execute a process in an automated manner.  It also provides the ability to build custom logic around a pre-defined process step with minimal coding.

Real-time retail price intelligence

The AI based Machine Learning solution – CENTIPEDE, has the innate capability to process and correlate structured and unstructured data, identify repeating patterns, and data insights. This modern AI solution can effectively join the dots across a plethora of data sets such as websites, images, documents, databases, etc. to predict upcoming business trends and provide alerts.

CENTIPEDE used webpage-scraping technique to collect pricing details from hundreds of competitor websites, compile information for the product list, analyze pricing trends, and other relevant information. Process automation was used for repeatability, to eliminate errors and to minimize cost.

This AI platform uses Machine Learning based mapping algorithm and provides tapered learning to analyze and monitor competitor pricing, recommend pricing thresholds to neutralize competition with zero human effort.  The Centipede solution empowered the auto parts retailer to improve sales and gain an edge over its competitors.

CENTIPEDE used webpage-scraping technique to collect pricing details from hundreds of competitor websites.

Business advantages offered by CENTIPEDE

Some of the key business advantages that CENTIPEDE offers are:

  • Easy integration with any unstructured data set within or outside the company
  • Push button or trigger-based automation
  • Modern architecture – AI/ML concepts
  • Data-driven decision making

CENTIPEDE platform has other possible implementations for automation. It can be used to automate a process where there is a need to eliminate human agent that interacts with a customer (another human).  It has further implications in automating machine to machine conversations as well.  For more information or a conversation on how the Centipede automation platform can support your business case, please contact us at: sales@cesltd.com.