Social Listening Is the Key to Understanding Your Customer

Somebody out there is talking about your product. And you had better be listening. Social media can be the bane of a brand's existence. Justified or not, a complaint can quickly go viral on Twitter, Facebook, Instagram and the like, causing irreparable damage to a company's reputation. But there's a positive side to the explosion of social media. Through the techniques of social listening and social sensing, companies can get a better understanding of how buyers are reacting to their products, and what the marketplace really looks like. On this episode, we speak with Juan Camilo Dorado, director of advanced analytics with ToolsGroup. He discusses how social media, the cloud, machine learning and artificial intelligence are combining to furnish companies with an unprecedented wealth of information about buyers and markets. He also addresses the challenge of translating that raw data into quantifiable metrics that allow merchandisers to understand true demand patterns, now and in the future.