Using Business Intelligence to Determine Social Network Essay

Using Business Intelligence to Determine Social Network - Essay Example Business intelligence mainly focuses on the processes and applications that happen within the business as opposed to competitive intelligence which focuses on the external environment, competitive activities especially. One main characteristic of business intelligence is its reliance on facts as opposed to rumors and heresy. Business Intelligence can be used to analyze people’s social networks to an extent that it may impact on organizations’ performances. This paper focuses on the application of business intelligence in analyzing social networks and its potential effects at the organizational level. Business Intelligence and Data Businesses depend on information form the field, which is translated into data, to make strategic business decisions. In many cases, businesses generate data which they store in databases, flat files or spreadsheets. The data that is stored by any business is extremely important to the organization especially if it is properly analysed and uti lized (Inmon and Nesavich 2008). In other words, the data stored by a business should not simply be perceived as information recorded in the past. It should be used for example to monitor sales trends for the purposes of planning market campaigns or to establish the kind of resources that ought to be allocated to certain sales teams. Such information could also be analysed to establish market trends and products that enjoy viability in the current and future marketplace. Yet again, information stored by the business may be used to analyse customer behavior (Negash 2004). Better stated, information can be analysed by organizations to increase profits and maximize revenues through the application of business intelligence. Social Networks A social network is basically a structure that is constituted by a set of actors who are engaged somehow in their interactions, connections or relationships (Liebowitz 2007). In other words, social networks are commonly associated with social groups. The actors or players in a social network may be individuals, businesses or organizations acting at a local, communal or even global level. What this means is that a social network is a group of individuals or organizations that interact with shared goals. While social networking can be done in person, most of the activity is done online. This is the case considering that the Internet is accessed by millions of people with common interests. Websites are commonly used for social networking as online community members who have common interests, or share related views in politics, religion, or hobbies meet and share views and ideas (Liebowitz 2007). Some of the most common and visible social networks in the current business environment include Facebook, Twiter, LinkedIn, MySpace, Google Plus+, Orkut, Tagged, Badoo, and myYearbook, just a few mentioned. While social networks have a great share of advantages, their limitations cannot be undermined. Data theft, frauds and viruses may be p art of the social networking experience. Business Intelligence and Social Networks Any organization that applies business intelligence cannot underestimate the potentiality of the application. Business intelligence can measure and report a vast amount of data real time (Respicio, Adam, and IOS Press 2010). Business intelligence may be used to harness trends, and create business to business and business to customer relationships on social networks such as Twitter and Facebook. The data retrieved from social networks can effectively be