The Utilization of Social Media and Analytical tools Offered by Multiple Platforms in Understanding Business Needs and Markets

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Smita Dron, Richa Mishra, Rashi Saxena

Abstract

Social media marketing and analytics has become a key trend in the current times.The study examines how companies use social media to do market research, analyse consumer trends, and comprehend customer behaviour. The study assesses how well analytic technologies deliver useful data for customer involvement and overall marketing initiatives. Additionally, it investigates how social media affects competition research, market dynamics, and chances for business growth. The process involves gathering data from secondary sources including journals, books, and online publications. It has found out linkages between social media technologies and business requirements, thematic analysis is used. The results show how important social media is for connecting with clients, expanding your audience, and facilitating in-person encounters. Additionally, social media platforms produce useful consumer data analysis, both of which are crucial for company decision-making and modifying marketing strategies. The results have concluded the fact that the use of social media and analytical tools can help in better understanding of various business needs and requirements in the long run.

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How to Cite
Smita Dron, Richa Mishra, Rashi Saxena. (2023). The Utilization of Social Media and Analytical tools Offered by Multiple Platforms in Understanding Business Needs and Markets. European Economic Letters (EEL), 13(4), 365–372. Retrieved from https://www.eelet.org.uk/index.php/journal/article/view/595
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Articles