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Data Mining Using Social Media
Transcript of Data Mining Using Social Media
Data Mining Using Social Media Searching through warehoused data to find trends and patterns. DATA MINING: As Presented By:
Maria Ng, Malisa Mashud, Pankti Patel, Elizabeth Chung FORECASTING: The act of predicting what consumers will do under a given set of circumstances. top social media platforms: Facebook, Twitter, Pinterest PLATFORM 1: FACEBOOK According to the National Post Facebook has more than 900 million users worldwide. In 2010 Facebook was visited more times than Google with around 3.5 billion visits in October 2010: Datalogix is a data-mining company in the U.S. that aids in collecting and analysing information about shoppers who make buying decisions based on the ads posted on Facebook. the demographic and behavioral trends of a retailers specific target market The number of Canadians using Facebook has dropped by 1.52 million to 16.6 million. - 500 million users in 2012.
- 3rd most used social networking site.
- 8th most popular site in the world. PLATFORM 2: TWITTER Pinterest is a “scrapbooking” platform.
Launched in 2009.
over 20 million users to date. PLATFORM 3: PINTEREST benefits of data-mining: Making Sense of A New Kind of Conversation TREND WATCH:
Data Mining Using Social Media sources: Brave, S. (2012, Mar 24). Pinterest, we've got a business model for you. Gigaom. Retrieved from http://gigaom.com/2012/03/24/pinterest-weve-got-a-business-model-for-you/
Brief: Consumers prefer Pinterest. (2012, June 20). America's Intelligence Wire. Retrieved from http://bi.galegroup.com.ezproxy.lib.ryerson.ca/essentials/article/GALE%7CA293926641/5a7e032136944c54d68fd03cd49a48a6?u=rpu_main.
CanWest Digital Media. (2012). Rate of growth of Facebook audience, usage declines in April. National Post, p. FP6.
Howard, P.N. (2012). Let's Nationalize Facebook. Denver Post, p. D5.
Ki, M. H. (2012, Brands pinning it on pinterest. Adweek, 53, 11-11. Retrieved from http://ezproxy.lib.ryerson.ca/login? url=http://search.proquest.com/docview/926429764?accountid=13631; http://sfx.scholarsportal.info/ryerson?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=unknown&sid=ProQ:ProQ%3Aabiglobal&atitle=Brands+Pinning+It+On+Pinterest&title=Adweek&issn=15499553&date=2012-02-20&volume=53&issue=7&spage=11&au=Heussner%2C+Ki+Mae&isbn=&jtitle=Adweek&btitle=
Kolakowski, N. (2012, July 31). Pinterest Analytics Opened with Pinfluencer. Slashdot. Retrieved from
N.A. (2012). Facebook uses data-mining company to track consumers' retail purchases [Social Media]. The Times of India (Online). Retrieved from http://ezproxy.lib.ryerson.ca/login?url=http://search.proquest.com.ezproxy.lib.ryerson.ca/docview/1069261159?accountid=13631
Oliveira, Michael. (2011). Facebook Canada believes there's room for growth but new numbers show usage slip. The Canadian Press. Retrieved from http://ezproxy.lib.ryerson.ca/login?url=http://search.proquest.com.ezproxy.lib.ryerson.ca/docview/872200364?accountid=13631
Opallo, D. (2012). Pin down pinterest's value. DM News, 34(8), 19-19. Retrieved from http://ezproxy.lib.ryerson.ca/login url=http://search.proquest.com/docview/1032459259?accountid=13631; http://sfx.scholarsportal.info/ryerson?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&genre=unknown&sid=ProQ:ProQ
Russell, M. A. (2011). Visualizing Facebook Data. In Mining in the Social Web. O’Reilly Media Inc.
Schlereth, L. (2012). Marketers' interest in pinterest.(core concepts / pinterest). Marketing News, 46(5), 8. Twitter is an online social networking service that enables users to microblog by sending and reading “tweets.” Analyzing tweets can help determine stock turnover rates to develop sales forecasts through an external force. Retailers and buyers can analyze "tweets" and "trending topics" to help forecast target markets' psychographic and behavioural trends through their interests, likes, and dislikes. final thoughts: E-Commerce is the new storefront.
Facebook, Twitter, and Pinterest have millions of users worldwide.
Generates large quantity of data. Facebook is aging quickly.
Twitter is replacing Facebook in popularity.
Pinterest is social media’s rising star. final thoughts: Social Media has revamped data mining as a marketing tool. final thoughts: by tracking pins, re-pins, follows, likes, and comments,
Pinterest offers... HOW IT WORKS: Users can post (i.e. “pin”) images. HOW IT WORKS: Images can be categorized into separate inspiration boards. HOW IT WORKS: Users can “repin” (i.e. “repost”), like or comment on pinned images. HOW IT WORKS: Website owners can add a “Pin It” or “Follow me on Pinterest” button to their site. HOW IT WORKS: Data can be collected in the form of tracking pins and re-pins, follows, and comments. BENEFITS OF DATA-MINING: This offers marketers the chance to make more sentimental connections with customers than they’d get through other social channels. a better referral engine than Facebook or Twitter in terms of purchasing products. While Facebook and Twitter can give marketers a sense of what users are up to at any given moment, Pinterest visually displays people’s interests and inspiration.. Hashtags are words/phrases prefixed with a "#" sign to describe a topic.
"Trending topics" are the 10 most discussed topics at the moment. HOW TO INTERPRET DATA: Product to theme:
Cluster to theme:
MARKET SEGMENTATION PINNING
Product to product:
CROSS-BRAND PINNING Now what? so A new way to measure and improve target marketing strategies.
Which boosts traffic to a Retailer’s website. A: Pinfluencer. promoting and advertising by Reaching out and engaging with customers.