Applying SNA To Complex Business Problems

Catching up on some old news. What I like about the SaS approach towards social networking, is that the company is applying it to real business scenarios that are complex and process-centric (e.g., fraud and other scenarios). Besides, when a vendor mentions Simmel, I can't help but smile.

How do social groups affect your business?

From identifying influential consumers to nabbing fraud rings, social network analysis digs into social group dynamics and presents a clear picture of connections

While the study of human relationships has existed for centuries, it was not until 1908, when Georg Simmel presented his network-based analysis, that social systems were depicted through graphs that used nodes to represent individuals and ties to represent the relationships between them. Known as social network analysis, the types of relationships that make up a network can be diverse, including friends, classmates, deposits, purchases and personal interests.

Social networks allow us to recognize and understand customer behaviors that, as isolated behaviors, might otherwise seem ordinary. A closer inspection of customer behaviors is now possible through advances in computer systems and through historical data about customer transactions. In many cases, these tools allow us to identify the relationships that customers maintain by way of their transactions, contact information, addresses, telephone numbers, acquaintances or referrals.
How can social network analysis be applied to your business? Here are a few examples:

• Banks use it to detect money laundering.
• Telco marketers use it to identify the most influential members of a social community.
• Credit providers use it to better assess the risk of individual applicants.

How do social groups affect your business? | SAS

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