#Social Business Intelligence Market

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Social Business Intelligence Market Set to Soar: Projections at US$ 49.6 Billion by 2034

Based on income from worldwide deployment, FMI projects that the global market for social business intelligence will be worth US$ 17 billion by the end of 2017. The market is anticipated to have expanded at a compound annual growth rate (CAGR) of 6% by the end of 2026. An estimated US$ 29 billion is its value.

According to Future Market Insights (FMI), SAP SE, SAS Institute Inc., Logi Analytics, Inc., TIBCO Software, Inc., Alteryx Inc., MicroStrategy, Inc., Microsoft Corporation, Qlik Technologies, Inc., and Tableaue Software, Inc. are a few of the well-known players in the industry.

They are exploring prospects in the development of social media tools and software. Several companies in the market are a substantial investments in research and development aimed at wearable technologies based on social business intelligence to gain a competitive edge over others.

The various end-use verticals for the social business intelligence market are BFSI, healthcare and life sciences, consumer goods and retail, travel and tourism, IT and telecommunication, media and entertainment, and government. Of these, the BFSI sector is the leading segment as it held a major market share of 20.2% of all the verticals in 2016. The segment is anticipated to retain its dominance throughout the assessment period. However, the travel and tourism segment is anticipated to rise at higher year-over-year growth from 2017 to 2026.

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Rising Ubiquity of Social Media to Bolster Demand

The growing demand for big data analytics tools for the analysis of social media, coupled with the rising ubiquity of social networks world over, is a key factor driving the market. The pressing need for next-generation analytical data generation technologies and management systems across modern enterprises is a primary factor driving the market in various regions.

The robustly rising popularity of social media among product and customer service teams, largely on account of benefits that percolate beyond marketing and promotion, is a key trend accentuating the market. The growing demand for various big data tools such as Hadoop in managing vast sets of unstructured data emanating from online and social media sites and CRM conversations is a notable trend catalyzing the demand for social business intelligence tools. This is motivated by the intensifying needs to garner data-driven insights into customer taste and preference across enterprises.

The pressing need for gaining customer insights in real-time for accelerating time-to-market is a key aspect of a fast-growing modern enterprise, necessitating the demand for social business intelligence tools. The rising adoption of cloud-based technologies and services will expectedly create exciting opportunities for market players in the coming years.

Data Security Major Concerns, Advanced Enterprise Data Operating Systems to Open up Exciting Avenues

The concern of privacy of data and their enterprise security are key factors likely to hamper the demand for social business intelligence to an extent. Nevertheless, the marked shift of enterprises workloads from on-premise to cloud is expected to allay these mounting concerns, thereby bolstering the demand for social business intelligence. In addition, the advent of advanced enterprise data operating systems has led players overcome the constraints associated with traditional database systems, notably SQL servers.

The growing popularity of Hadoop for building large-scale database has enabled enterprises manage large operational requirements. This is a welcome trend in the global social business intelligence market. Furthermore, the introduction of YARN and MapReduce has substantially expanded the capabilities of Hadoop, thereby creating lucrative avenues for market players.

[rthidden]

What is an Algorithm in 30 Seconds?

An algorithm is simply a series of instructions.

Think of a recipe: boil water, add pasta, wait, drain, eat. These are steps to follow.

In computer terms, an algorithm is a set of instructions for a computer to execute.

In machine learning, these instructions enable computers to learn from data, making machine learning algorithms unique and powerful.

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How AI is changing Digital Marketing What is Digital Marketing?

Digital marketing is defined as a process of selling goods and services via digital media which includes Social media, Emails, search engines, and websites. Such a method is useful in that it expands the scope of business reach and provides interaction with the target audience impossible in marketing. Some of the digital marketing techniques are content marketing, search engine optimization, influencer marketing, and web advertising. Through these channels, businesses can define the intended audience to cascade the campaigns, monitor the impact of the campaigns, and make real-time adjustments. This means that the marketing activities being carried out are more productive and result-oriented hence creating more business out of the whole marketing exercise.

What is AI?

AI stands for artificial intelligence and is considerably described as the ability of machines to imitate one or all aspects of human intelligence. AI is also described in broader terms which associates it with machine learning and natural language processing, robotics, and other disciplines. These technologies allow an AI system to have the ability to identify speech, decide, and translate between languages. For digital marketing, AI facilitates the analysis of large data sets, automation and, providing the right messages to the right customers. This in turn improves the existing marketing plan and possibilities to narrow down the focus and interact with clients.

How AI is Changing Digital Marketing:

AI is now disrupting the digital marketing field due to the methods it offers that help refine the data gathering and handling approaches, customer targeting, and campaign customization processes. AI algorithms are capable of processing huge amounts of information and making analysis concerning consumer behavior faster as compared to human beings; marketers can use the results of such analysis to develop finer and better campaigns. Besides, others like email marketing, commercial posting, etc., can also be automated by AI leaving the marketers with only the key tasks to deal with and think of. Consequently, commercial organizations reach better Returns on Investment, and customers tend to develop friendly relations with businesses.

Myth or Truth - Is AI Transforming the Digital Marketing Industry?

The matter of fact is still open, whether AI is just a fancy word utilized in discourse connected with digital marketing or a driving force that evolves this field. Nevertheless, numerous examples and cases show that the role of AI in modern industry is exceptionally important. It has been noted that companies applying AI have seen a relative enhancement in customer interaction, leads, and sales. Leverage in customer care; services such as chatbots and other analytical tools that incorporate the use of Artificial intelligence are becoming core assets to the marketing strategies of companies. Although there are barriers that can be encountered in the adoption of AI, the advantages of the technology are considerably faster in comparison to the liabilities, which makes AI a significant resource for the modern marketer.

Why Use AI?

Thus, AI provides many benefits in the context of digital marketing. Some of the tasks it can effectively accomplish include data entry, marketing through emails, and social media among others since it cuts across many people and may contain many errors. AI also enables the marketers to know the customers better hence, enhancing the chances of the marketers to develop unique content and campaigns. This leads to an increase in the level of customer satisfaction and thereby customers’ loyalty. In the same way, AI may also facilitate the utilization of advertising budget on the most convertible leads, and hence, bigger conversion ratios, paving the way to enhanced ad spend potentiality. Altogether, the application of AI is beneficial to companies as it enhances their marketing goals’ accomplishment.

What are the Pros and Cons of AI in Marketing?

Pros:

1) Improved A/B Testing:

AI can perform A/B tests rather quickly and this would not be possible if it was done entirely by the human resource. It enables the marketer to know which content is more effective and which strategy yields the best results. AI can also narrow down the results and provide real-time analysis of the tests that a person undertakes. Improved A/B testing leads to a better understanding of what resonates with the audience and higher conversion rates.

2) Targeted Lead Generation and Client Segmentation:

AI is used to draw insights to identify leads and categorize clients according to their actions and choices. It also makes it possible for marketing communication to be focused on the prospects that are most likely to produce good results. AI can determine which of the leads are most likely to turn into buyers and therefore give them priority. This is a very important approach in marketing because it makes businesses address the right audience hence boosting their chances of success and return on investment.

3) Content Creation Written by AI:

AI can write blog posts, social media updates, product descriptions, or any kind of textual content. These tools employ artificial intelligence and specifically natural language processing to produce quality content that will appeal to the target audience. This assists marketers in having a proper and continuous flow of content and hence managing the workload. Despite the occasional need for human intervention in training the AI, it can help in the generation of content quite swiftly and provide a continuous stream of new content.

4) Timely Messaging:

AI ensures that marketing messages are delivered at the correct time to capture the attention of the audience it is intended for. It identifies the frequency of operation and timing to approach the users. This in turn increases the chances of the messages being opened and answered by the recipients. Mailing should be done at the appropriate time so that the customers can show interest in the products and make purchases. And since users are mostly likely to be active at those times, businesses have a better shot at achieving higher marketing outcomes.

5) Self-Learning:

AI systems can remember previous conversations and even experience learning regarding interactions with customers. This makes them more potent as time progresses. For example, AI can learn from the kind of feedback it has been receiving or the level of users’ engagement. This self-learning capacity means that AI tools will not only stay current in an ever-evolving digital environment but will also adapt their operation for optimum efficiency. AI systems will continue to improve over the next five years and will become more effective at understanding the customers’ needs and fulfilling them.

Cons:

1) High implementation costs:

Consideration of AI in marketing often implies considerable costs such as acquisitions of hardware and software and training of employees. As is explained, it could be challenging to establish the initial expenditures for the technology, especially for small businesses; thus, the competition with large organizations may be tough. The financial cost of AI technology can be a significant obstacle to entry, particularly for startups and small businesses.

2) Requires technical expertise:

This presents a challenge for some businesses because marketers themselves require or should possess the skills to effectively use these tools. This frequently requires recruiting specialists or providing additional training to in-house workers, which can be both time-consuming and expensive. Furthermore, AI technology is constantly developing and changing, so it is crucial to educate oneself constantly and adapt to new information and programs.

3) Potential loss of jobs:

In the future, as AI continues to absorb more activities, there is potential for jobs with repetitive work to become obsolete. This can even lead to job insecurity and make it necessary for the company to look for methods of repurposing the involved employees. The change might be dramatic for both the employee and employer since it causes drastic alternation of the employees’ positions.

4) Data privacy concerns:

AI applied in marketing means that large amounts of data are being gathered and analyzed, thus there may be privacy concerns. Since data is managed within businesses, care should be taken to respect the laws on data protection and also retain the trust of consumers. Not doing so may incur legal consequences and affect the brand image negatively in the process.

5) Dependence on technology:

One disadvantage of relying on AI functionalities is that these systems are prone to technical glitches and breakdowns. Marketing can also be inhibited when AI systems fail or are not maintained appropriately, which will further affect the performance of the business. Also, reliance on these technologies may limit human supervision and analytical capabilities in the decision-making processes.

Will AI Replace Digital Marketers?

AI is not a threat to digital marketers but rather will change the nature of the work that digital marketers do. Marketers will also require more strategy, imagination, and certainly, a clear understanding of AI technologies. AI will manage and analyze data and automate tasks so that marketers will be in a better position to make wise decisions. This shift will also entail the marketers to change course learn new skills and adapt to the new technologies. Thus, although AI can be very useful in marketing initiatives, creativity, and strategy will never be fully delegatable to AI systems. With digital marketers and AI in place, there will be even better and enhanced marketing techniques in the future.

What’s the Future of AI in Digital Marketing?

Based on the various scenarios that have been presented AI has a bright future in digital marketing and its future will not only be shaped by the existing technologies but also the future advancements that will provide a better way of doing the existing. Leveraging the power of AI will open up opportunities to greatly enhance the quality of the insights generated about customers and provide unprecedented predictive modeling based on real-time information.

Consumers will benefit also because marketers will be able to direct-read their audiences and, therefore, provide them with highly personalized content. Moreover, the use of AI in these marketing strategies will display an extended effectiveness with increased risk. The application of AI is bound to become more integrated into digital marketing as it becomes more advanced and this can be seen as a key factor that cannot be overlooked by business establishments that want to compete effectively in today’s diverse market.

What are the Different Types of AI?

1) Machine Learning:

When it comes to artificial intelligence, machine learning is a component that enables systems to learn with experience and demonstrate scaling. It involves the use of various models that are incorporated into a computer to assess a given element, discover a given pattern, or else project a given trend. In digital marketing, machine learning has particular uses in customer segmenting, predictive analysis, and recommendation systems. This is especially advantageous in marketing because machine learning enables the system to constantly learn from data and adapt the model to be more accurate with subsequent cycles.

2) AI Assistants & Chatbots:

AI helps through its customer support tool: AI assistants and/or chatbots respond to clients within the shortest time possible and the responses can handle all the questions that may be presented at one time. They employ natural language processing to parse customer inquiries and allow representatives to respond. These tools assist businesses in penetrating the market and responding to customer inquiries and complaints faster. For instance, customers can engage with chatbots to help in making suggestions, knowing the status of their orders, and the handling of complaints. It also improves the quality of the overall customer service experience and enables human agents to tackle specific and detailed jobs.

3) Voice Search:

Voice search is a type of search engine that is spoken to by the users to get the required results. Computing gadgets, including smart home appliances such as speak-to-me devices such as Siri, Alexa, Google Assistant, etc are also frequently initiated. Therefore, marketers should balance how their content will be processed by the voice search to increase its visibility. They include the application of natural language, response to frequently asked questions, and sharing of pertinent information. Leveraging it shall be an added advantage for businesses as consumers continue to shift towards voice search engine results.

4) Marketing Automation & Personalization:

AI makes marketing functions an automated process where it can control tasks like email to customers, social media posts, and advertising. It also does that rather in line with the personal characteristics of the users of the software application. This makes sure that the marketing message that is to be relayed whether through the printed media or any other medium is appealing to the interests and the relevance of the consumers. For instance, the subject lines of promotional emails sent can be personalized, product suggestions based on the user’s past actions, or even the advertisement location can be tweaked. This level of personalization also decreases the possibility of one making the wrong decisions since it will always result in conversion and improved customer satisfaction.

The Future of Digital Marketing is Here:

AI which was long associated with a future technology is already part of digital marketing today. AI can also be used to improve the results of marketing plans and strategies by firms. AI tools or solutions enhance data productivity, specialized content development, and self-service customers. The above tools help marketers to provide high user engagement and create more meaningful interactions with the audiences. Thus, AI remains an ever-evolving feature of the digital marketing field which, as the technology develops, will remain an inseparable part of modern marketing.

Conclusion:

AI as a tool is the future of digital marketing benefiting it in various ways like better user experience, better segmentation, and customer analytics.  It is therefore clear that even with the implementation of AI the job of digital marketers will be shifted and not eliminated. This means that marketers are to concentrate on strategy and creativity in marketing while on the other hand, AI covers the analytical workload and automation of routine tasks. This paper aims to address how there is a need for firms to adopt the technology of AI to remain relevant and provide effective marketing communication. Digital marketing with the help of AI is not just another hype that can be a part of the trend, it is a massive change that has come to stay. Any business that will accept this great change will be in a vantage position to thrive in the increasingly digital economy.

Let's wrap up with this thought: Let me know your thoughts on this: What do you think about AI in digital marketing? Intrigued by what it can do for your strategy, to change the game and take it to the next level?

[pipalz]

14 Marketing Challenges You’ll Face In 2024 (+ Solutions)

In this article, we'll explore 14 marketing challenges that are expected to arise in 2024, along with effective strategies to overcome them.

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How will AI break traditional digital marketing Channels by 2025, And How Should Businesses Adapt?

By 2025, artificial intelligence will once again change how brands interact with audiences. The customer journey is no longer predictable but a dynamic, real-time AI-enabled experience, redefining the traditional funnel through the transformation of digital marketing. The ones willing to embrace this change will lead the pack, while the rest will lose their place in the race. Here is a view of…

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Digital Marketing Software Market Report: Insights, Trends, and Forecast 2022–2030 | Straits Research

Digital Marketing Software Market Report – Straits Research

Market Overview

The global Digital Marketing Software Market was valued at USD 71.02 Billion in 2021 and is anticipated to grow from USD XX Billion in 2022 to USD 256.36 Billion by 2030, registering a CAGR of 18.3% during the forecast period (2022–2030). Digital marketing software refers to a suite of tools and applications that help businesses plan, manage, execute, and measure their digital marketing efforts across various platforms, such as websites, social media, and email. These software solutions provide features like customer relationship management (CRM), email marketing, content management, marketing automation, and social media marketing, allowing businesses to create more effective, data-driven marketing campaigns. As businesses increasingly embrace digital transformation, the need for integrated, efficient, and scalable marketing solutions continues to rise, thereby driving market growth.

Download Free Sample Report with Complimentary Analyst Consultation: https://straitsresearch.com/report/digital-marketing-software-market/request-sample

Digital Marketing Software Market Categorization

The Digital Marketing Software market can be segmented in several ways, offering a wide range of tailored solutions to meet the needs of different businesses.

1. By Solution:

CRM Software: Helps businesses manage customer relationships, track interactions, and nurture leads through personalized marketing efforts.

Email Marketing: Tools for creating and automating email campaigns, targeting specific audiences to increase engagement and conversions.

Social Media: Provides platforms for managing social media campaigns, analyzing trends, and engaging with customers across various channels.

Search Marketing: Involves tools for optimizing search engine results, including both paid search and SEO efforts.

Content Management: Solutions that allow businesses to create, manage, and optimize digital content for their websites and other marketing platforms.

Marketing Automation: Automates repetitive marketing tasks such as email campaigns, social media posts, and lead nurturing, improving efficiency.

Campaign Management: Tools that assist in planning, executing, and tracking marketing campaigns across multiple channels.

Others: A range of specialized marketing tools, such as analytics platforms, influencer marketing software, and more.

2. By Service:

Professional Services: Includes consulting, implementation, integration, and training services that assist businesses in adopting and maximizing their digital marketing software solutions.

Managed Services: Outsourced services that include ongoing management, monitoring, and optimization of digital marketing software to ensure efficiency and effectiveness.

3. By Deployment:

Cloud: Cloud-based solutions are increasingly popular due to their scalability, cost-effectiveness, and ease of access from anywhere.

On-premise: These solutions require businesses to maintain the software on their own servers, offering more control but often higher upfront costs.

4. By Enterprise Size:

Large Enterprises: Larger organizations with complex marketing needs and bigger budgets typically opt for comprehensive, enterprise-level solutions that can scale to meet their needs.

Small & Medium Enterprises (SMEs): SMEs often prefer cost-effective, easy-to-use solutions that provide value at a lower price point, while still offering essential features to enhance their marketing capabilities.

5. By End-User:

Automotive: Digital marketing software is used in the automotive industry to promote vehicles, engage with customers, and enhance the customer journey.

BFSI: The banking, financial services, and insurance sectors rely on digital marketing tools for customer engagement, lead generation, and digital ad campaigns.

Education: Educational institutions use digital marketing to recruit students, promote courses, and build their brand.

Government: Governments utilize digital marketing for public outreach, awareness campaigns, and engagement with citizens.

Healthcare: Healthcare providers use marketing software to reach patients, promote health services, and maintain patient engagement.

Manufacturing: Manufacturers leverage digital marketing tools to connect with B2B clients, promote industrial products, and enhance customer relationships.

Media and Entertainment: The entertainment industry relies on digital marketing for content promotion, audience targeting, and event marketing.Market Segmentation: https://straitsresearch.com/report/digital-marketing-software-market/segmentation

Geographic Overview

The Digital Marketing Software Market shows strong growth across the globe, with specific trends emerging in various regions:

North America: Dominated by the U.S., North America holds the largest market share, driven by the high adoption of digital marketing solutions by businesses of all sizes and across all industries.

Europe: The European market is growing steadily, with the U.K., Germany, and France leading the demand for digital marketing solutions. Europe’s focus on data privacy regulations, such as GDPR, has also influenced the market.

Asia Pacific: This region is expected to witness the highest growth during the forecast period, particularly in countries like China, India, and Japan. The rapid digital transformation, increasing internet penetration, and growing e-commerce trends are propelling the demand for digital marketing solutions.

Latin America: Latin America shows significant growth, with Brazil and Mexico being the major contributors to the demand for digital marketing software in the region, driven by an expanding middle class and the increasing adoption of mobile devices.

Top Players in the Digital Marketing Software Market

The Digital Marketing Software Market features a range of established players that continue to innovate and dominate the landscape:

Adobe Inc.

Hewlett Packard Enterprise Development LP

HubSpot Inc.

International Business Machines Corporation (IBM)

Marketo Inc.

Microsoft Corporation

Oracle Corporation

Salesforce.com Inc.

SAP SE

SAS Institute Inc.

These companies offer robust digital marketing software solutions that cater to the diverse needs of businesses worldwide, providing tools for everything from social media management to email marketing, content optimization, and more.

Key Unit Economics for Businesses and Startups

For businesses and startups, investing in digital marketing software can lead to several benefits, including improved customer targeting, increased engagement, and better ROI on marketing spend. The key unit economics for businesses typically include:

Cost of Acquisition (CAC): The cost to acquire a new customer using digital marketing software solutions.

Customer Lifetime Value (CLV): The total revenue a business can expect from a customer over the duration of their relationship.

Return on Investment (ROI): The profitability of marketing campaigns and the efficiency of marketing efforts in generating leads and sales.

Startups, in particular, must be mindful of their budget and look for software solutions that offer scalability, flexibility, and affordability. Many digital marketing software solutions offer tiered pricing models based on the features and the number of users, allowing businesses to grow without being locked into expensive contracts.

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Digital Marketing Software Market Operational Factors

The operational factors influencing the Digital Marketing Software Market include technological advancements, data privacy concerns, and the growing shift to mobile-first marketing strategies. Additionally, the rise of artificial intelligence (AI) and machine learning (ML) is enhancing automation and predictive analytics in digital marketing software. Businesses also face increasing pressure to comply with data protection regulations like GDPR, which impacts how marketing data is collected and used.

About Straits Research

Straits Research is a premier research and intelligence provider, offering detailed market reports, analytics, and advisory services to empower clients in making informed business decisions. With a team of experienced researchers and analysts, Straits Research delivers tailored insights and actionable data to support the strategic goals of our clients worldwide.

Contact Us:

Email: sales@straitsresearch.com

Address: 825 3rd Avenue, New York, NY, USA, 10022

Phone: +1 646 905 0080 (U.S.), +91 8087085354 (India), +44 203 695 0070 (U.K.)

[rthidden]

The Frame Problem: AI's Unseen Nemesis

The frame problem is AI's Achilles' heel, lurking since the 1960s and still unresolved.

1. The Robot Dilemma

Daniel Dennett's thought experiment illustrates the issue: a robot must save its battery from a room with a bomb.

Initially, the robot pulls the battery on a cart but also drags the bomb out, unaware of this side effect.

Solution attempts include programming awareness of side effects, leading to analysis paralysis as the robot debates endless possibilities.

2. The Side Effect Spiral

When programmed to consider all side effects, the robot wastes time on irrelevant details—like pondering wall color changes.

This shows how difficult it is for AI to filter relevant from irrelevant information without getting bogged down.

3. Human Intuition vs. AI Logic

Humans effortlessly ignore irrelevant details, making quick decisions in complex contexts.

Programming AI to mimic this selective ignorance is resource-intensive and remains a significant challenge.

The frame problem underscores a subtle yet crucial aspect of human intelligence: our ability to instantly prioritize relevant information. As we advance in AI development, solving this problem will be key to creating truly intelligent systems.

Got thoughts on tackling the frame problem? Share your ideas!

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Boost Engagement with Video Ad Variations

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As modern technology advances, artificial intelligence (AI) is becoming an essential component of efficient marketing campaigns. AI marketing trends are changing the way organizations interact with customers, optimize campaigns, and evaluate data. Lets look at the most important AI marketing trends of 2025 that every marketer should be aware of

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