How Data Expertise Helps Firms Create Social Media that Matters
Episode Description
Most firms consider social media a must in today’s highly networked world. But new Wharton research co-authored by Lynn Wu shows it’s not simply being on social that matters – it’s how you use it. More: http://knlg.net/2bgPGRn 📂 Management;Technology 🏷️ Research
Brief Summary
Lin Wu discusses how data analytic skills enhance social media's corporate value across all departments, not just marketing.
Key points
- Understanding Social Media's Corporate Value. Lin Wu reveals that 85% of executives struggle to quantify social media's impact on profits.
- Surprising Findings on Firm Value. Non-consumer-facing firms often generate the most value from social media, contrary to expectations.
- The Importance of Data Skills. Wu emphasizes that data analytic skills across all departments drive greater value from social media.
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Episode highlights
- Understanding Social Media's Corporate ValueLin Wu reveals that 85% of executives struggle to quantify social media's impact on profits.“Eighty-five percent of executives cannot quantify social media's impact.”0:42Aug 25, 2016
- Surprising Findings on Firm ValueNon-consumer-facing firms often generate the most value from social media, contrary to expectations.“Social media data impacts every aspect of a firm's operation.”5:32Aug 25, 2016
- The Importance of Data SkillsWu emphasizes that data analytic skills across all departments drive greater value from social media.“Data skills should be distributed across all departments, not just marketing.”6:34Aug 25, 2016
Tension
45/ 100Some tension
