There exist broadly two methods in which the data generated from social media can be used. One of the methods is as a tool to identify competitors’ offerings. The other is to map the customer journey. In the first method, detailed analysis has to be made on the kind of products and plans competitors are offering, a lot of which they will share on their social media feeds as marketing tools. This will provide insightful business intelligence. As part of the second method, customers’ data needs to be studied to see the kind of posts, tweets or reviews made by them. They will also provide authentic feedback on products giving the brand insights on which part of their offerings they must modify to meet customer expectations and needs.

Source:http://www.forbes.com/sites/blakemorgan/2016/12/19/two-ways-you-can-use-social-media-data/#655d3f6c11e7