Of the five ways that we asked managers to rate the use of social media in finance and accounting and its benefits, by far the most frequent usage was getting a first-hand understanding of consumer perceptions about the company. They rated that at a ‘3.93’ on our scale of 1-5 in terms of usage (high usage). Next was getting a more accurate picture of demand forecasts.
In terms of benefits achieved, they gave top marks to using social media as a tool for gaining unvarnished consumer opinions about the company, and lower (although still somewhat high) marks as a way to improve demand forecasting. The figure below depicts how finance uses social media and benefits from it.
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