Increasingly, organizations are leveraging social media to execute strategy. They are using social media in ways one might expect – such as outbound communications through the likes of Facebook, Twitter and YouTube – and they are subjectively monitoring social media services for inbound analysis of customer preferences and competitive intelligence. Additionally, with the recent emergence of analytic tools that enable near real-time analytics on large volumes of data and analysis and quantification of completely unstructured data, organizations are now extending beyond “traditional” uses of social media to execute strategy.
With the emergence of enhanced analytic tools organizations are now able to, for example, instantaneously and quantifiably understand how recent events (such as a widely publicized accident involving a product) are impacting public perception of the products and the organization. These analytic tools not only enable a definitive understanding of public perception but, more importantly, they help organizations understand what can be done to improve perception. In addition, organizations can leverage enhanced analytics of social media to identify and capitalize on market opportunities. Public perception of competitors, for example, can be analyzed to understand and improve an organization’s market position.
The SAP BusinessObjects Strategy Management application, part of the 10.0 enterprise performance management (EPM) solutions suite, enables the development and execution of organizational strategy, and it supports the creation and communication of strategic objectives, prioritization and execution of initiatives, and management and analysis of key performance indicators (KPIs).
The application also enables organizations to leverage both “traditional” social media and enhanced analytics of social media in the development and execution of strategy. Specifically, it allows for the creation and analysis of KPIs based on quantified, real-time social media data, as well as linking qualitative information from social media services to strategic objectives, initiatives and KPIs. For example, an organization may choose to link its KPI on market share to an industry analyst’s Twitter page, enabling business users to quickly view the analyst’s up-to-the-minute assessment of the market.
Furthermore, the SAP BusinessObjects Strategy Management iPad application extends the value of the solution to mobile users. With the iPad application, business leaders can now, while on the go and in real time, understand how ever-changing social sentiment is impacting the organization’s ability to execute strategy.
Here is an example of how the SAP BusinessObjects Strategy Management application brings this all together:
- While at the airport, a senior manager (Jane) of an automobile manufacturer receives an email alert from the application that the status of their brand leadership objective has turned red (i.e. is underperforming).
- To gain more insight, Jane opens the iPad application and quickly confirms that the objective has turned red.
- Jane drills into the details of the objective and can see that one of the KPIs used to measure the objective’s success has turned red. The KPI is negative customer sentiment, which is measured based on the number of negative mentions about the company on Facebook, Twitter and two auto industry discussion forums.
- Jane then drills into the details of the KPI and notices that a colleague has entered a comment notifying the team that the surge in negative sentiment is due to a recent wave of accidents involving the company’s line of SUVs. To confirm, Jane drills into the underlying data and can indeed see that there are nearly three times as many negative mentions about the company’s line of SUVs than there are on competing models.
- Lastly, Jane can see that an image improvement initiative has already been launched. She opens the details of the initiative to see who is on the team, then emails the initiative owner (including an attachment with the initiative details) letting him know that she needs to be included on the initiative team.
This is just one of many examples of how leveraging the 10.0 release of SAP BusinessObjects EPM solutions and social media analytics enables business leaders to act in real time on emerging challenges and opportunities and drive success in their businesses.