Flame Communications Pte Ltd
It has been a tumultuous period for the media industry and businesses that rely on news to drive decision-making. The explosion of news from traditional media, social media and online media, has made the understanding of news sentiments more complex. It is now more difficult than ever to distinguish between real, responsible reporting and unreal, sensational news.
Hence, the heterogeneous media channel mix, compounded by the sheer volume and disparate quality of news are growing exponentially, with 90 per cent of the data today created in the past 2 years. In other words, each day, more than 2.5 quintillion bytes of data is created.
Disruption caused by technological advancements has not only created more channels to distribute news but also, made it easier for just about anyone to create content. Today, individuals have been more empowered than before to create and disseminate their own content, and more importantly, engage their readers via communities. The speed of information sharing is impactful; the ideas and thoughts of a brand are easily influenced by the media channel mix.
Although technology has created a complex media environment, it has also provided the tools to overcome the challenge of disseminating news ethically and responsibly. Media intelligence tools that are able to handle large, disparate data sets from a variety of sources, coupled with artificial intelligence (Al) can enable companies to cope by sieving out relevant data, analysing and putting together data analytics for swift business decisions. In addition, technology has also enabled companies to do what was previously impossible – treating consumers and customers as individuals rather than as various market segments. By embedding tracking and personalisation tools on media intelligence platforms, companies can literally “follow” and “listen to” their customers.
Media intelligence platforms inform businesses of their customers’ behaviour, allowing them to track the content one receives and reads, down to the details of one’s likings. This is in contrast to traditional media instruments that are only capable of performing broad market segmentation. With digital connectivity, tracking has become so personalised that businesses can now segment the market more rigorously. Furthermore, data analytics allow companies to perform sentiment analysis over a period of time i.e. an individual’s change in preferences and opinions. Hence business decisions have evolved to become more proactive as it is now feasible to influence consumers’ opinions.
Investing in automated media intelligence tools has gained importance in today’s digitally connected economy. It gives an edge in business by empowering communications specialists to optimise the news release distribution, monitor and view news coverage, carry out media outreach, and produce real-time reports and analytics. A media intelligence platform that includes sentiment analysis will certainly give businesses an advantage in terms of making informed decisions about their brands. Over and above, businesses are now able to discover how consumers stay positive, negative or neutral to their brands in real time through accelerated analytics with data generated from the media intelligence platform.
The widespread adoption of media intelligence technology will be the key enabler to drive individualised targeted marketing campaigns and allow businesses to develop a deep engagement with their customers.