Competitive analysis of social media data in the banking industry

Afolabi, I. T.; Ezenwoke, Azubuike; Ayo, C. K.

doi:10.1504/ijima.2017.10006719

Cited by 5 publications

(3 citation statements)

References 10 publications

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“…Textual and content analysis aims to identify the dimensions and mainstream concepts of empowerment within a text and provide insights into how comments and posts might be influenced by the commonly occurring patterns of meaning. Afolabi et al (2017) carried out a competitive analysis of social media data in banks and discovered that social media text analysis provides important competitive advantage trends; this is also a useful source of information for banks' management.…”

Section: Methodsmentioning

confidence: 99%

“…However, the focus of most of these studies has been mainly related to the banks and they seem to be concerned solely with marketing. Afolabi, Ezenwoke, and Ayo (2017) analysed social media data from five financial institutions in Nigeria, mainly to help banks identify competitive patterns and relationships derived from online data. Before that, Thoumrungroje (2014) empirically tested the impact of social media on 1,142 Thai consumers' trust in the 'electronic word of mouth' and their consumption of the advertised products.…”

Section: Introduction 11 Backgroundmentioning

confidence: 99%

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The Use of Social Media in Banks to Engender Women Empowerment and Financial Inclusion in Arab Countries

Yakubi

Basuki

Purwono

2020

JIMF

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This study aims to classify and interpret the interacted communications between banks and users on social media and understand the role of these digital platforms to enhance woman empowerments and financial inclusion in banks in Arab countries. 100 users of banks’ social media were selected from 5 leading banks in 5 Arab countries and their interactive utterances were classified, analyzed and interpreted. Content analysis tools were applied. The study reveals these key results: First, the use of social media in banks entails two-fold empowerment dimensions that are mutually beneficial for Users and Banks. Second, both flows of utterances either from “User to Banks” or “Banks to Users” demonstrate that the highest ratios of the shared content are more closely associated with financial inclusion dimensions than user’s empowerment aspects. Third, women are found more engaged in social and emotional involvements than men who show a relatively higher interest in banks’ financial services and products. It is also found that Banks use social media to raise social and economic themes that support women in the region. However, the second and third results imply a gender gap in financial inclusion since females still lag behind. This study is different by highlighting the power of banks’ social networks to trigger important gender and economic development themes in a highly conservative society and contribute to literature by analyzing and interpreting the shared content from three extensive outlooks which yield ample details and draw implications for banks’ management and social media policy makers and regulators.

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Section: Methodsmentioning

confidence: 99%

Section: Introduction 11 Backgroundmentioning

confidence: 99%

The Use of Social Media in Banks to Engender Women Empowerment and Financial Inclusion in Arab Countries

Yakubi

Basuki

Purwono

2020

JIMF

View full text Add to dashboard Cite

show abstract

“…The accuracy of algorithm is process on each movie genre namely action, adventure, drama and romantic where from the experiment, LSVM shows a higher accuracy compared to NB in all genres mention with the highest accuracy in drama type of movie. Furthermore, Ayo et al [9] used RapidMiner to combine tweets and comments on Facebook from five major banks in Nigeria. The result is divided into two parts which is by using sentiment analysis and clustering analysis.…”

Section: Introductionmentioning

confidence: 99%

Classification of customer feedbacks using sentiment analysis towards mobile banking applications

Rahman

Idrus

Adam

2022

IJ-AI

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Innovation and technology have subsequently transformed banking industry’s way of delivering products and services to their customer. Mobile banking is an effective way of performing transaction as it can be performed anywhere and anytime. The evolution of banking experience is important to fulfil customers’ need and demand especially in highly competitive banking industry. Through mobile banking application, customer can express their satisfaction and dissatisfaction directly on the application store platform. The fulfilment of customer’s satisfaction is important to avoid customer attrition. This research focused on customer feedbacks towards six mobile banking application in Malaysia which is Maybank, Commerce International Merchant Bankers (CIMB), Public Bank, Hong Leong Bank, Rashid Hussein Bank (RHB) and AmBank. This research aims to identify keywords related to customer feedback towards mobile banking, classify the sentiment and evaluate the accuracy performance by using supervised machine learning algorithm of support vector machine (SVM) and naïve Bayes (NB). The result shows that linear SVM is the best model with the highest value in all accuracy, precision, recall, including F1-score with value 97.17%, 97.21%, 97.17% and 97.18% respectively. With this high accuracy value, this model would have better performance in analyzing the classification of customer feedback in mobile banking application.

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IMPROVING MARKETING FUNCTIONS THROUGH SOCIAL MEDIA PRESENCE AMONG CONSTRUCTION SMEs

Afolabi¹,

Ojelabi²,

Olayeni³

et al. 2019

Proceedings of International Structural Engineering and Construction

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With over 3.5 billion people connected to the internet, small and medium-scale (SME) construction businesses have the opportunity to enhance their customer base. The study assessed ways by which marketing functions of SME construction businesses can be improved through social media presence of the firms. The study used a quotapurposive sampling of construction businesses in Nigeria's mega city, Lagos State. The small and medium scale construction businesses comprised of consulting and contracting firms. Using a questionnaire instrument, the social media arm of the marketing unit of SME construction businesses was measured. Presentation of the data was carried out using pie charts and principal component analysis. The study identified two main critical success factors (CSFs) -Firm/Social Media characteristics and Security/Investment factor enabling the Social Media infrastructure for SME construction businesses. A focus on these entities would ensure the successful integration of social media marketing strategies in the traditional marketing functions of construction SMEs. The survival of SME construction business is hinged on the availability of customers which social media exposure helps attract and interact with potential customers. SME Construction businesses of the 21st century must align with the 'global village' trend of incorporating social media applications in their traditional marketing functions.

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Competitive analysis of social media data in the banking industry

Cited by 5 publications

References 10 publications

The Use of Social Media in Banks to Engender Women Empowerment and Financial Inclusion in Arab Countries

The Use of Social Media in Banks to Engender Women Empowerment and Financial Inclusion in Arab Countries

Classification of customer feedbacks using sentiment analysis towards mobile banking applications

IMPROVING MARKETING FUNCTIONS THROUGH SOCIAL MEDIA PRESENCE AMONG CONSTRUCTION SMEs

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