Risk means the probability of negative occurrence that may be avoided through pre-emptive action.
This can include risks of harm to a company directly or financially, to a brand name or even risks affecting parts of the supply chain through natural catastrophes, political decisions or human actions – depending on the industry and targets.
Especially large companies with a great number of suppliers and partners cannot manually track all potential risks on a global scale and this is where using social media monitoring comes in to help counteract your organisation’s likelihood of falling victim unprepared to such scenarios.
With a customized online monitoring and alerting tool, it is possible to keep track of a large amount of different variables and information sources so that you have your finger on the pulse and are never caught unprepared or under-informed in the event of a crisis.
The role of Social Media Monitoring
Monitoring social media enables you to quickly identify and monitor conversations across social media platforms and millions of newspapers, blogs and forums.
By doing this you can keep track of relevant industry news and discussions from across the web concerning political, social, environmental and economic developments that may have an effect on the company or your supply chain
