The short answer is yes, I believe so. How long will that take? Well, we’re not there yet.
This year, I wrote our Market Guide on Social Analytics (sub req.) and I was underwhelmed overall with the progress of measuring images and video. Most players have some sort of logo recognition feature in place but, even when you drill further into the data, it went off the rails. Product managers even admitted there’s “work to do there.” And that’s fine.
I understand that the tech is possible because of the advances in machine learning algorithms, the availability of Big Data and the existence of robust technology and infrastructure to support real-time processing. We know that significant advances are being made in each of these areas alone and that the sheer speed of today’s technology is beyond our wildest dreams a decade ago. But what’s taking so long for it to be even slightly, dangerously accurate?
Personal frustrations aside, marketers should be aware of and explore the power of these types of analytics. Image and video analytics is like social listening on steroids. It can create a treasure trove of creative inspiration with other valuable key insights you can draw from. Image and video analytics also has the power to connect online and offline marketing activity. Now, this is one of the most notorious measurement issues in the history of marketing! They also have the power to track influencer activity and user-generated content.
When the tech gets great, the future of social analytics will be very bright. Marketers: Ask your vendors about their product roadmaps and make sure you’re taking advantage of this powerful technology. Vendors: Artifical Intelligence (A.I.) is NOT a differentiator. I’ll leave it to my colleague, Augie Ray, to continue that dialogue from here…