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Growth in development of artificial intelligence (AI), data mining and machine learning will spur the United States Social Media Analytics Market

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Steve Blade

Social media analytics is a tool largely used by different businesses to gather and analyze the data from social media websites in order to analyze the market scenario and customer sentiments, to support the marketing activities and business decisions. Data analysis is based on the business objective such as customer segmentation, reducing service costs, increasing revenues and product and services feedback.

The growth in development of artificial intelligence (AI), data mining and machine learning have improved the social media analytics to quantify the free text and unstructured data available. Therefore, technological developments are the major driving factor in the growth of the U.S. social media analytics market.

Market leader Facebook accounted for 43.35 percent of all social media site visits in the United States in February 2020. Twitter was ranked second with 24.08 percent of all U.S. social media site visits. Social networking is one of the most popular internet activities in North America, particularly in the United States. A total of 79 percent of internet users in the United States have a social network profile. The number of social network users in the United States is projected to increase from 244 million in 2018 to over 257 million users in 2023. Facebook is, by far, the most popular social media site.

Social media analytics largely collect data from top social media websites such as Twitter, Facebook, LinkedIn, You Tube and Pinterest. United States has huge internet penetration and around 50% of the population is active user on social media platforms. Thus, it provides more accurate data to the businesses. Data on social media is very valuable, thus needed to be collected and analysed efficiently through advancing technologies.

How Could the United States Social Media Data Analytics address COVID-19 concern?

Coronavirus (COVID-19)-related content has become a high-stakes test for social media platforms’ abilities to fight misinformation. False recommendations about how to avoid contracting the virus or what measures infected people should take to avoid spreading it have the potential to cause more sickness and death from a pandemic that has already taken thousands of lives worldwide.

According to data from social media analytics platform Sprinklr, there were more than 19 million mentions related to COVID-19 across social media, blogs and online news sites worldwide on 11 March 2020. For context, mentions of US President Donald Trump on the same day came in at roughly 4 million.

Many of the COVID-19 mentions likely came from legitimate sources but given the novelty of the disease and the fast-changing nature of related news, it’s safe to assume that a large portion was inaccurate or outdated.

Platforms like Twitter and Facebook were also among the earliest sources of accurate COVID-19 information. But since average citizens, celebrities, politicians and others use social platforms to share their coronavirus experiences, air grievances and simply kill time while self-isolating, important health and safety information easily gets drowned out.

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Steve Blade
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