Have you ever wondered how social media companies make money? For example, how Twitter makes money? Of course, we will put advertising aside for the time being. Well, one of the ways in which Twitter brings home the bacon is by selling data to companies which either analyze this data and sell it on or to “end-user” companies which then analyze this data to improve their operations.
The sheer amount of data that is shared on social media is reason enough for companies and non-commercial entities to start including this social data in their business intelligence efforts and today we will be looking at what can be accomplished by doing so.