4 Steps to Winning Insights from Social Media
While most companies monitor social media, smart ones are weaving social data with operating metrics to separate noise from value and develop actionable insights. Stax is working with companies to help them derive insights by connecting social conversations with real-world performance. By bringing all these data points together and framing them in the right context, Stax’s work has uncovered illuminating insights for its corporate and investor/board level engagements. The results are enabling management teams to improve operations and help investors evaluate companies.
Stax CEO Rafi Musher and Director Palash Misra crafted an article on how to utilize social insights to fully understand a company’s position in the marketplace and what it needs to do in order to best operate the business.
There is a considerable gap between executives who are well-versed in the social data as a strategic asset, and those who have either delegated the results too far away or are too far removed to understand the power that it offers. Social media provides a relatively unedited glimpse into what guests are saying beyond traditional satisfaction scores…
Analyzing social media and digital data, and acting on that analysis, is an ongoing process. It is not just a matter of looking at the receipts every day or expecting one week’s worth of data to produce valuable insights or trends. It takes time to collect the data, analyze it, compare it against which areas of the business are and are not successful, make small adjustments and measure the results.
You can read the full article in Hospitality Technology Magazine here.
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