With the emergence of social media, it is playing a key role in marketing activities. Social media sites like twitter, Facebook tumblr, YouTube LinkedIn & others are growing rapidly. Now facebook has more than 1 billion members. This has made the companies to use social data for market research activities. People share their purchase experience through social media sites. Data can also be obtained from Customer Rep chat, ratings, polls, surveys, voting, review sites & others.
Consumer ratings are used by people before deciding about the product. All this data helps market research lower costs, fasten the decision making process & others.Many analytic service providers have started including social media data in reports & this can also be used for research purposes. Top brands are mentioned by users regularly in conversation & this helps them uncover many insights. Social media listening is playing an important role in research. With the use of smartphones, more people are using social media & this helps tapping into data related to localization.