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Cutter IT Journal Cutter The Journal of IT Journal Information Technology Management Vol. 26, No. 10 October 2013 “With any substantial invest- ment in new technology The Value of Social Media comes the question of value. Is there enough value in the Data Analytics mountain of unstructured social media data to justify the expense and effort of Opening Statement by Matt Ganis and Avinash Kohirkar . 3 examining it?” — Matt Ganis and By the Numbers: Using Social Media Measurement to Drive Results by Jim Love . 6 Avinash Kohirkar, Creating Sustainable Value from Social Analytics Guest Editors by P Gopa Kumar, Girish Khanzode, and Mallika Bahety . 14 The Missing Link in Social Media Data Analytics by Thad Scheer . 22 Assessing the Value of Social Media Analytics by Nick Kadochnikov . 27 Social Media Due Diligence: Selecting the Right Social Listening Partner by Steve Andriole . 34 NOT FOR DISTRIBUTION For authorized use, contact Cutter Consortium: +1 781 648 8700 [email protected] Cutter IT Journal About Cutter IT Journal Cutter IT Journal® Cutter Business Technology Council: Part of Cutter Consortium’s mission is to Cutter IT Journal subscribers consider the Rob Austin, Ron Blitstein, Tom DeMarco, Lynne Ellyn, Israel Gat, Vince Kellen, foster debate and dialogue on the business Journal a “consultancy in print” and liken Tim Lister, Lou Mazzucchelli, technology issues challenging enterprises each month’s issue to the impassioned Ken Orr, and Robert D. Scott today, helping organizations leverage IT for debates they participate in at the end of Editor Emeritus: Ed Yourdon competitive advantage and business success. a day at a conference. Publisher: Karen Fine Coburn Cutter’s philosophy is that most of the issues Group Publisher: Chris Generali that managers face are complex enough to Every facet of IT — application integration, Managing Editor: Karen Pasley merit examination that goes beyond simple security, portfolio management, and testing, Production Editor: Linda M. Dias Client Services: [email protected] pronouncements. Founded in 1987 as to name a few — plays a role in the success American Programmer by Ed Yourdon, or failure of your organization’s IT efforts. Cutter IT Journal® is published 12 times a year by Cutter Information LLC, Cutter IT Journal is one of Cutter’s key Only Cutter IT Journal and Cutter IT Advisor 37 Broadway, Suite 1, Arlington, MA deliver a comprehensive treatment of these venues for debate. 02474-5552, USA (Tel: +1 781 648 critical issues and help you make informed 8700; Fax: +1 781 648 8707; Email: The monthly Cutter IT Journal and its com- decisions about the strategies that can [email protected]; Website: panion Cutter IT Advisor offer a variety of improve IT’s performance. www.cutter.com; Twitter: @cuttertweets; perspectives on the issues you’re dealing with Facebook: Cutter Consortium). Print Cutter IT Journal is unique in that it is written ISSN: 1522-7383; online/electronic today. Armed with opinion, data, and advice, ISSN: 1554-5946. you’ll be able to make the best decisions, by IT professionals — people like you who employ the best practices, and choose the face the same challenges and are under the ©2013 by Cutter Information LLC. All rights reserved. Cutter IT Journal® same pressures to get the job done. Cutter right strategies for your organization. is a trademark of Cutter Information LLC. IT Journal brings you frank, honest accounts No material in this publication may be Unlike academic journals, Cutter IT Journal of what works, what doesn’t, and why. reproduced, eaten, or distributed without doesn’t water down or delay its coverage of written permission from the publisher. timely issues with lengthy peer reviews. Each Put your IT concerns in a business context. Unauthorized reproduction in any form, Discover the best ways to pitch new ideas including photocopying, downloading month, our expert Guest Editor delivers arti- electronic copies, posting on the Internet, cles by internationally known IT practitioners to executive management. Ensure the success image scanning, and faxing is against the that include case studies, research findings, of your IT organization in an economy that law. Reprints make an excellent training and experience-based opinion on the IT topics encourages outsourcing and intense inter- tool. For information about reprints enterprises face today — not issues you were national competition. Avoid the common and/or back issues of Cutter Consortium pitfalls and work smarter while under tighter publications, call +1 781 648 8700 dealing with six months ago, or those that or email [email protected]. are so esoteric you might not ever need to constraints. You’ll learn how to do all this and Subscription rates are US $485 a year learn from others’ experiences. No other more when you subscribe to Cutter IT Journal. in North America, US $585 elsewhere, journal brings together so many cutting- payable to Cutter Information LLC. edge thinkers or lets them speak so bluntly. Reprints, bulk purchases, past issues, and multiple subscription and site license rates are available on request. Start my print subscription to Cutter IT Journal ($485/year; US $585 outside North America) SUBSCRIBE TODAY Name Title Request Online License Company Address Subscription Rates City State/Province ZIP/Postal Code For subscription rates for online licenses, contact us at [email protected] or Email (Be sure to include for weekly Cutter IT Advisor) +1 781 648 8700. Fax to +1 781 648 8707, call +1 781 648 8700, or send email to [email protected]. Mail to Cutter Consortium, 37 Broadway, Suite 1, Arlington, MA 02474-5552, USA. Opening Statement by Matt Ganis and Avinash Kohirkar, Guest Editors Anything can be measured in an attempt to show its When we have vast amounts of data, we as humans value. Of course, there are many ways to measure a tend to get overwhelmed. As we collect and organize return on investment, but the question we pose in this that data, we start to call it “information.” By applying issue of Cutter IT Journal is: “How do you measure the logic and reasoning (and other sources of information), value of social media analysis?” we turn that information into knowledge, something that (hopefully) gives us a competitive advantage over Actress Salma Hayek once remarked: others. While Francis Bacon may have observed that People often say that “beauty is in the eye of the “Knowledge is power,” in the case of social media ana- beholder,” and I say that the most liberating thing lytics, we may want to listen to Irish essayist Robert S. about beauty is realizing that you are the beholder. Lynd’s words instead: “Knowledge is power only if This empowers us to find beauty in places where others have not dared to look. man knows what facts not to bother with.” We believe this is true with social media analysis — that there is value in places we haven’t yet explored. In this issue of CITJ, we address the value of Big Data With the widespread adoption of social media analysis of social media content and provide guidance, sites such as Facebook, LinkedIn, and Twitter, insight, and actual case studies on whether or not the social media has become one of the larger knowledge and insight derived from this data is worth sources of Big Data. the resources spent. With the widespread adoption of social media sites such as Facebook, LinkedIn, and Twitter, social media In the case of social media analytics, we might be able has become one of the larger sources of Big Data. This to determine our customer’s view of our latest product increased volume of data has created a slew of new IT (the positive or negative sentiment). Surely there is issues that need to be considered, the most significant value in knowing this. But how do we translate that one being “What do we do with all this data?” As a into its monetary form? If our organization has spent result, we’re seeing an increased demand for more thousands of dollars to implement a social media listen- storage capacity, enhanced needs for computing power, ing program and determined that some percentage of and the introduction of new technologies (such as potential customers don’t like the color of our latest Hadoop), all of which make undertaking a social product, does that justify the investment we made in media monitoring campaign no small task. establishing that listening program? Maybe. But if the As IT requirements grow, so do budgets and the level investment is in the millions, and the insights aren’t as of investment required. With any substantial invest- clear-cut, would our answer be the same? ment in new technology comes the question of value. Let’s say we are a major movie studio, and we’re about Is there enough value in the mountain of unstructured to release a new multimillion-dollar film into the the- social media data to justify the expense and effort of aters. With a social media listening program in place, examining it? At some point, senior management must we might determine that there is very little chatter wonder if it’s really worth it. Are we learning anything about our upcoming release, while there appears to be new from this analysis? Are the insights and knowledge an overwhelming amount of discussion about a com- gleaned sufficiently important to justify the investments petitor’s movie due to be released on the same week- in this new technology? end. If we can determine that the “buzz” around our Get The Cutter Edge free: www.cutter.com NOT FOR DISTRIBUTION • For authorized use, contact Vol. 26, No. 10 CUTTER IT JOURNAL 3 Cutter Consortium: +1 781 648 8700 • [email protected] movie needs to increase, and we immediately take with real-life examples for using measurement action to raise the public’s awareness (thus saving our to “drive the cultural and behavioral change that “box office draw”), can we claim that the social media sustains results.” program has proven its value to us? Our next piece, coauthored by P Gopa Kumar, Girish What is “value”? Is it an investment, a hedge against Khanzode, and Mallika Bahety, begins by providing a the future, or knowledge? good introductory overview of the broad landscape of social media data analytics.
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