More than half of the world is on social media, with some of the largest companies using it to push their own products and services, a new report from Next Big Ideas suggests.
With more than half the world using social media for social communication, a growing number of companies are making use of data to reach new audiences, according to the report.
The study, which examined how data is being used in all kinds of industries, said that while the most important applications were driven by social and community networks, a number of tech giants are also making use.
Google, for example, uses the data it gathers to improve its search algorithms and create personalized recommendations for its users, while Twitter’s use of user data to improve user experience and content has also grown.
While the report said that the top 10 tech companies had a total of 1.6 billion active users globally, more than 50% of the global market share of those users was on social networks.
The report said social networking companies had used the information gathered by their users to drive a number different kinds of changes in society, with social media being the biggest.
Social networking companies are also becoming increasingly aware of the social impact they are having and have been doing a better job of ensuring that they are sharing that information, the report found.
While it is too early to determine whether or not social media platforms will become a dominant force in the way the world communicates, it does show how technology companies are taking advantage of the internet’s vast resources to create a platform that people can use to get the news, see videos and read books they want.
“In the last five years, technology has fundamentally changed the way we interact with the world,” the report authors said.
“This has allowed us to make unprecedented gains in our ability to reach people and reach them with value.
And it has led to unprecedented opportunities for our business.”
The report found that most companies are focusing on making their platforms more powerful, but there are also opportunities for companies to build their brands in new ways.
Some of these companies have been using data mining to understand their users and develop new ways of targeting them, such as by leveraging data from third-party sites and social media analytics to create tailored ads, the authors said, or by using data analysis tools to make better recommendations based on user activity and interests.
Some tech companies also use their social media platform to help build new businesses, like Uber, where it uses data from its platform to target drivers and drivers’ passengers to the right passengers, and to improve the way it sells its ride-hailing service.
“Social media is an important way to reach the wider audience.
But it also provides companies with a unique opportunity to develop new businesses,” the authors concluded.