Social BI, or Social Business Intelligence, refers to the creation, publishing and sharing of custom business analytics reports and dashboards by end users of Cloud technologies.
First enabled by the rapid growth of social media networks in 2009, Social BI allows for the collaborative development of post user-generated analytics among business analysts and data mining professionals. This paradigm shift has removed previous barriers to self-service BI while still employing traditional analytics applications.
Social BI, or Social Business Intelligence can also be interpreted as providing business intelligence based on social networks data. For example, A company selling consumer electronics goods needs to know how people are responding to their latest advertisements or promotions. The reports and visualizations made using social media represent what people are talking about in real time. By pulling data from different social media and preparing understandable smart reports will help company to decide upon further steps. So these dashboards, visualization, reports based on social media will comprise Social BI and will be of help for the companies to get efficient feedback and act accordingly.
On September 13, 2011, Dachis Group introduced the Social Business Index to provide some insights into how social companies are, and how they stack up against similar corporations in their respective industries and their competitors, and provide some social business benchmarks by company, subsidiary, geography, department and brand.