SOCIAL MEDIA IN MODERN BUSINESS

Abstract

Social media help companies to reach new customers. New areas where companies can use social media include web-based training, team-based projects, distribution of updates about plans and activities to employees, search for new offers and verification of information during staff recruitment. The purpose of this article is to identify possible trends in the use of social media for enhancing the performance of modern business ventures. This paper compares selected classifications of the Internet development phases. The rule of content cocreation and sharing, typical of Web 2.0, remains valid during the subsequent stage of development, i.e. Web 3.0. A qualitative difference consists in adding a new function of using semantic analysis of messages posted in the virtual space, most notably in the social media. Semantic analysis is applied primarily in order to adjust the products offered to consumers’ needs. Application of semantic tools may also be associated with information exclusion. This paper also analyzes the implications of semantic web in the new context, the effect of information extraction from the social media.