Data Analytics in the Social Media Industry

Abstract

The purpose of this paper is to understand the use of data analytic in business, mainly focus on social media company. Social media is a platform or means for people to engage with others in a socially engaging manner. This paper starts with the origin and development of the social media industry, including analytics of the major players in chronological order such as Myspace, Facebook, and ByteDance; opportunities for future development and challenges are then discusses, as well as the value chain, focusing on operational stage, marketing and sales stage, services, and HR management. This paper evaluates how data analytics deliver values to stakeholders through the value chain from six perspectives: human resources, accounting and finance, product design and development, logistics, marketing, support service, and hypotheses how advanced data analytic applications, including reinforced learning, deep learning, and cognitive computing, could benefit the industry in the future.