The thought process was that we need to do something, now that we’ve shone the light on what people are saying about us. Sentiment analysis was difficult to take action on, though the possibility nonetheless sparked a wave of investments in social command centers. The sentiment camps ignored so-called “neutral” conversation-the lion’s share of dialogue and the place where opinions are formed through exploration and discussion. The aggregated sentiment was a general measure of positivity, but it lacked subject-matter specificity. Once again, out-of-the-box tools were often used to drive sentiment calculations, but they often lacked the nuance and context needed in business. Raw quantitative counts were replaced by happy and sad faces in an attempt to glean what the social masses were thinking about brands, products, services, and campaigns. Monitoring gave way to sentiment analysis. But volume doesn’t tell you much-good, bad, or indifferent. As the numbers grew, premature victory was announced. Social efforts leaned on the enabling tools that allowed passive data collection, tracking the volume of surface-level activity and broad-stroke awareness-followers, likes, mentions, and click-throughs to their own corporate channels. 4 Not surprisingly, social monitoring and listening were some of the earlier investments companies made in the social arena. Social media has become a frequent online destination, commanding 27 percent of global time spent on the web. Meanwhile, the flurry of activity around external social channels continues. Hierarchies, biases, standardized operating procedures, rigid job descriptions, and other embodiments of institutional inertia can stunt progress. To take full advantage of this potential, age-old organizational constraints need to be identified and rewired. Social businesses 3 ideally rally around well-defined business problems, supported by committed communities with well-defined incentives for participation. That study revealed that 69 percent of executives thought social business would be critical to their organizations in the next three years. We’re still in the opening frames of a broad wave of social-driven enterprise transformation, 1 as a recent study by MIT Sloan Management Review and Deloitte confirms. Organizations have spent the last several years chasing the tantalizing prospect of “social.” Within the enterprise, social represents a bastion of hope for productivity and collaboration-a chance to effectively navigate who knows what, who knows whom, how work gets done, and how decisions get made. Create and download a custom PDF of the Business Trends 2014 report.
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