Investing News Network – Big Data to Be a Social Media Necessity in 2016
January 21, 2016
by Morag McGreevey, Investing News Network
Data-driven companies like Engagement Labs are becoming increasingly important as conventional social media metrics fail to offer the full picture.
Social media is growing at an incredibly rapid pace, and it seems like a new platform is taking off every day. In 2015, social media giants like Facebook (NASDAQ:FB) held their ground even as a slew of new startups began transforming the industry.
For example, Snapchat, with its self-deleting text, video and photo sharing capabilities, entered the mainstream last year. Periscope, another new company, hosts live video steams that allow users to across the world to see what others are seeing. However, with the advent of these new technologies, the old measures of social media success (i.e. likes and followers) are becoming less central. Enter the rise of big data and companies like Engagement Labs (TSXV:EL).