Social media throws out huge amounts of data at breakneck speed. If companies can catch and process this information from a variety of sources and formats, the rewards can be big.
“Sorry, I didn’t quite catch that!”
To capture data, companies have to be quick. Thankfully, innovations in data analytics let databases do the listening for them. Tools like text analytics use advances in natural language processing to trawl huge volumes of content for insight. And sentiment analytics can capture the sentiment of what people are saying online.
Actions speak louder than words
So, what are the benefits of listening in? For T-Mobile, it’s better CRM. T-Mobile use the SAP HANA in-memory platform to analyze huge volumes of customer data in seconds—up to one billion rows and a 300 trillion record set in 16 seconds to be precise. For their 33 million subscribers, that means more relevant marketing and faster customer support.
After listening to its customers, T-Mobile came up with the “uncarrier” plan which removes the need for annual contracts. And its ‘jump’ plan lets people change phones when they’re good and ready. With SAP HANA, T-Mobile is listening to the needs of its customers and innovating in real time.
Acting on the right information at the right time is just what California-based Next Principles does. The company is one of the thousands helped by the SAP Startup Focus program. Its innovative analytics app lets organisations track social media conversations – just like the web chatter of T-Mobile’s customers – and act on those insights.
For those companies prepared to listen, real time analytics offers tools to understand their customers better and hold on to them. To see how SAP HANA is helping businesses do just that, go to the World of Innovation Web site.