Data Analytics Skills and the Corporate Value of Social Media

Let the user speak: Is feedback on Facebook a source of firms’ innovation?

“…Because of the real-time content produced by users, social media can even serve as a predictor of firm value (Luo et al, 2013). However, in order to fully reap the benefits from user-generated information on social media a firm may need complementary data analysis skills (Hitt et al, 2016). This finding implies that absorptive capacity Levinthal, 1989, 1990) is also necessary in the case of social media (Culnan et al, 2010).…”

Developing a Work‐Ready Social Media Marketing Analytics Course: A Model to Cultivate Data‐Driven and Multiperspective Strategy Development Skills

“…Social media data can be used in many ways and companies will be able to develop more effective strategies if multiple departments are able to act upon this data (Hitt et al., ). An interdisciplinary structure can help students understand the multidisciplinary nature of a business operation—that social media data can be analyzed and used in different ways by various parts of the company—and also prepare students for the work environment since most social media positions require collaboration with a cross‐functional team (Owyang, ).…”

“…Despite projections that social media spending will double within the next three to five years, many companies are overwhelmed with and are still struggling to understand how to use social media data (Hitt et al., ). This signals great job opportunities for marketing graduates with strong social media marketing analytics skills.…”

“…The availability of such real time customer data has allowed companies to effectively and efficiently build and maintain customer relationships, personalize products and services, and automate marketing processes. 164 Developing a Work-Ready Social Media Marketing Analytics Course With data-driven decisions becoming more important, there is increasing demand for job candidates who are able to manage, analyze, and interpret large amounts of customer data (Hitt, Jin, & Wu, 2016;Shaw, 2014;Wedel & Kannan, 2016). Since an important role of marketing education is to contribute to marketing practice by developing curricula that reflect and align with practical needs of the marketplace (Brocato, White, Bartkus, & Brocato, 2015;Duffy & Ney, 2015) and provide adequately skilled marketing graduates (Harrigan & Hulbert, 2011;Walker et al, 2009), educators have been presented with the task of developing courses that effectively train students to use data to pull insights that can be incorporated into company strategies.…”

Let the User Speak: Is Feedback on Facebook a Source of Firms' Innovation?

“…Because of the real-time content produced by users, social media can even serve as a predictor of firm value (Luo et al, 2013). However, in order to fully reap the benefits from user-generated information on social media a firm may need complementary data analysis skills (Hitt et al, 2016). This finding implies that absorptive capacity Levinthal, 1989, 1990) is also necessary in the case of social media (Culnan et al, 2010).…”