September 26, 2012 Leave a comment
Facebook and Twitter has become an integral part of most of our lives. On average, Facebook users spent more than 10.5 billion minutes per day on Facebook during January 2012, excluding mobile devices. This comes out to 12 minutes and 26 seconds per user. Facebook crossed 1 billion users in August 2012. While Twitter surpassed 500M users this July 2012 and this number has quadrupled in last 2 years.
While consumers may think of social media sites like Facebook, Twitter and Foursquare as places to post musings and interact with friends, companies like Walmart and Samuel Adams are turning them into extensions of market research departments. And companies are just beginning to figure out how to use the enormous amount of information available. The unit, now called @WalmartLabs, looks at Twitter posts, public Facebook posts and search terms on Walmart.com among other cues, to help Wal-Mart refine what it sells…
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