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The goal of any business analytic tool is to analyze data and extract actionable and commercially relevant information that you can use to increase results or performance. Social media analytics is the process of gathering data from social media sites, blogs and other stakeholder conversations on digital media and processing into structured insights leading to more information-driven business decisions and increased customer centrality for brands and businesses. This process goes beyond the usual monitoring or a basic analysis of retweets or "likes" to develop an in-depth idea of the social consumer.
Depending on the business objectives, social media analytics can take four different forms, namely, descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics.
Social media analytics is considered the basic foundation for enabling an enterprises to:
Execute focused engagements like one-to-one and one-to-many
Enhance social collaboration over a variety of business functions, such as customer service, marketing, support, etc.
Maximize the customer experience
Social media is a good medium to understand real-time consumer choices, intentions and sentiments. The most prevalent application of social media analytics is to get to know the customer base on a more emotional level to help better target customer service and marketing.
This report contains market size and forecasts of Social Media Analytics in US, including the following market information:
US Social Media Analytics Market Revenue, 2015-2020, 2021-2026, ($ millions)
Top Five Competitors in US Social Media Analytics Market 2019 (%)
The global Social Media Analytics market was valued at xx million in 2019 and is projected to reach US$ xx million by 2026, at a CAGR of xx% during the forecast period. While the Social Media Analytics market size in US was US$ XX million in 2019, and it is expected to reach US$ XX million by the end of 2026, with a CAGR of XX% during 2020-2026.
COVID-19 pandemic has big impact on Social Media Analytics businesses, with lots of challenges and uncertainty faced by many players of Social Media Analytics in US.
This report also analyses and evaluates the COVID-19 impact on Social Media Analytics market size in 2020 and the next few years in US
Total Market by Segment:
US Social Media Analytics Market, By Type, 2015-2020, 2021-2026 ($ millions)
US Social Media Analytics Market Segment Percentages, By Type, 2019 (%)
- Customer Segmentation and Targeting
- Multichannel Campaign Management
- Competitor Benchmarking
- Customer Behavioral Analysis
- Marketing Measurement
- Other
US Social Media Analytics Market, By Application, 2015-2020, 2021-2026 ($ millions)
US Social Media Analytics Market Segment Percentages, By Application, 2019 (%)
- Banking, Financial Services and Insurance (BFSI)
- Telecommunications and IT
- Retail
- Healthcare
- Government
- Media and Entertainment
- Transportation and Logistics
- Others
Competitor Analysis
The report also provides analysis of leading market participants including:
Total Social Media Analytics Market Competitors Revenues in US, by Players 2015-2020 (Estimated), ($ millions)
Total Social Media Analytics Market Competitors Revenues Share in US, by Players 2019 (%)
Further, the report presents profiles of competitors in the market, including the following:
- IBM
- Oracle
- Salesforce
- Adobe Systems
- SAS Institute
- Clarabridge
- Netbase Solutions
- Brandwatch
- Talkwalker
- GoodData
- Crimson Hexagon
- Simply Measured
- Sysomos
- Digimind
- Unmetric