Which option will be our future?

I have just read a great article* by Amy Birchall about social media being used to predict the future.

A researcher at Illinois University, Kalev Leetaru, was able to ‘predict’ events such as the Libyan revolution, Osama bin Laden’s location and the Arab spring revolts by monitoring conversations and trends on Twitter. (This made me think of the TV show Person of Interest which is based on a machine predicting the future!)

Extrapolating from that and other observations, the article discusses how social media can be used in many fields to predict things – giving warning to health authorities about epidemics for instance could be very important. Obviously, marketers and advertisers are interested by this as they can predict trends and position themselves accordingly.

It has also pointed out how valuable it can be to target the right (read influential) people can be. The example given was to immunise 96% of people for community immunity – or immunise the most connected 30% for similar results. In business terms, work at promoting yourself to 96% of your market, or to the 30% that influences the rest of the market.

With hash tags and various data monitoring and mining platforms available, it is possible to use social media to research your market and tailor marketing to suit. Have you used social media to decide on a strategy or campaign? Do you think it helped you make good decisions?