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As the use of social media has been increasing day by day, a large amount of user content is freely available on social media sites. Nowadays companies need to monitor and analyze customer content on their social media sites to increase their competitive advantage and growth of their businesses. We ...
Nowadays, people use social media sites to present their feelings, opinions e.t.c but social media sites are also used by customers to express their reviews on the product they have purchased. Their reviews and concern on social media sites help us to learn about their purchasing experience and provide important knowledge to improve their market service and their quality. We analyze that the textual data on social network sites plays very important for the growth of any business. The rapid growth of social media content requires the ease of using new social media techniques. Competitive intelligence is important for companies to use in managing risks and making decisions. . Not only do they need to monitor their own social media sites but they also have to monitor their competitor’s social media sites. To make their business successful companies need to process all available information (customers’ opinions, reviews of services, quality ) to predict what happened and what’s gonna happen. With the increasing use of social media, the tremendous amount of customer-generated content available on social media sites has now become a new source of mining competitive intelligence. .
Helping gaming businesses to understand how to perform actionable social media analytics and how social media content can be transformed into strategically actionable knowledge by conducting an in-depth case study using frameworks and tools to analyze and compare unstructured text content on the Facebook sites of the top 5 best selling games franchises (GTA, Red Redemption, Fortnite, Assassin Creed, BattleField). We focused on comparing posts on their official Facebook pages to understand the issues and problems with customers’ reviews of these games. As the gaming industry is a billion-dollar industry and games are available on many platforms including consoles, PC, Portable consoles, mobile, etc.
Social media sites provide the facility for users to create and share content like photos, videos, sharing, etc. Facebook is the most popular in terms of its use, and network traffic and is widely used by many business companies to interact with customers and to track customers’ feedback and reports. .Many business companies use social media to track their product feedback among customers and to communicate with customers.
Social media plays an instrumental role in promoting consumer awareness and providing access to vast amounts of information that impact decision-making processes. .As social media reach a large audience at a low cost..On social media, platform businesses are able to develop new techniques to rapidly learn customer perceptions of new product offerings and maximize opportunities to attract and collaborate with loyal customers .
It is very important for business companies to constantly collect and check information about their competitor’s products and services and plans. .As social media is used as a medium for companies to interact with their customers, companies need to monitor their own social media sites.
To conduct social media competitive analytics we use a combination of traditional statistical analysis, text mining, content analysis, and sentiment analysis techniques to examine social media content collected by comparing customers’ experiences from social media sites.
Text mining aims to extract meaningful information from unstructured textual data . The main purpose of text mining is to automatically extract knowledge, insights, and useful trend from a given set of text documents.. This technique has been used to analyze a large amount of social media data. Text mining identifies trends in posts or comments from social media sites.
Sentimental analysis is the computational detection and study of opinions, sentiments, emotions, and subjectivities in the text . Sentiment Analysis is concerned with the automatic extraction of positive or negative opinions from the text .
The video game industry has grown from a focused market to mainstream. The annual earnings from the games industry are higher than the film industry. According to the latest global games market reports from intelligence firm Newzoo projected that a base of 2.3 billion gamers worldwide spent a total of $ 137.9 billion on games this year.. The industry-wide figure is up 13.3% year-over-year, driven largely by a 25.5% jump in mobile revenues to reach $70.3 billion. Breaking it down a little further, smartphones will account for about 80% of the mobile number, with tablets making up the remaining 20%. According to Newzoo, this will be the first year where mobile revenues make up a majority of the games industry..As for the rest of gaming, it’s split nearly evenly between consoles and PCs. Newzoo expects console revenues to reach $34.6 billion for the year, or just over 25% of the total gaming spend, while PCs will contribute $32.9 billion to the total, or nearly 24% of all gaming revenues. In all, 91% of all industry revenues will be generated from digital sources.
Data from social media can be collected from many software tools. The easy way is to use web-crawling software to access the web interface of the site. Many social media (like Facebook and Twitter) provides API services for data tracking. However, blogs and online forums typically do not provide API for data tracking but there are many forums that offer RSS feeds that can be tracked easily . The framework can be used to facilitate the construction of a social media repository for managing heterogenous longitudinal social media data from competitors. The framework collects, stores, and analyzes data by conducting continuous longitudinal monitoring and analysis from social media sites. The data can be generated on a daily, monthly, or weekly basis to facilitate social media analysis for example by comparing customers’ comments and sentiments about a particular competing product.
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