Over the years we have guided a wide variety of financial institutions ranging from venture capitalists to hedge funds with billions of dollars under management, and this post hits on some of the ways social media analytics tools play a key role in the financial space today and will continue to in the future.

First and foremost, the old school mentality of looking at the core numbers and performance over time to hopefully predict what’s to come is a thing of the past. And recent examples in the space ranging from the GameStop short squeeze to other major moves driven by activity on social media are true game changers as well as indicators of what’s to come. But how does your firm gain a competitive edge?

In a nutshell, it’s no longer about having your finger on the pulse of the market because something can bubble up on social media tomorrow that you never expected, and if you’re not seeing that data in near real-time you’re going to miss out.

Looking at some of the common questions we get from companies in the financial sector, we thought it would be helpful to share our feedback:

What are financial institutions looking at from a data perspective?
Similar to how the world is evolving with Generative AI which is essentially based on a multimodal approach to fusing/generating data, financial institutions need a way to think outside of the box, explore what matters then create an ecosystem that fuses everything together.

How are things fused together in a multimodal way to produce the best, most integrated results?
Looking at the finance world in particular, going back to the early days when everything operated in secret silos, the concept of sharing information between platforms was unheard of, but as time evolved and technology as a whole we all realized the power of taking a multimodal, multidimensional approach to understanding everything that matters.

What are the best social media analytics tools for the financial industry?
This is a loaded question that requires a specialized response, though in a nutshell the best social media analytics tools used in the financial industry will be those that fuse data from a variety of sources (social media, breaking news, etc.) then have the ability to truly make sense of everything.

Thinking about ways to gain a competitive edge using social media data? Let’s connect.