The use of Web 2.0 has now been channelised by the top companies and consumer oriented organisations to predict the customer behaviour and buying decisions. The various social media web sites and platforms that include blogs, discussion forums, social networking sites like Orkut and Facebook etc. have provided the common public, the consumers a platform to voice their opinion and reach to people in different corners of the world. They can now share their experiences and opinions, both positive and negative about various products and services.
Major organisations are waking up to the power of the consumer voices heard over the various forms of Web 2.0 platforms which have tremendous potential to shape the opinions and buying decisions of other consumers and also their brand loyalties, purchase decisions and their own brand advocacy.
According to the recent survey by Aberdeen, a Harte-Hanks Company (NYSE: HHS), Best-in-Class organizations are over 680% more likely than Laggards to improve their ability to predict customer behavior through the use of social media monitoring and analysis tools.
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