SNA in Business

Its not difficult to consider the ways in which Social Network Analysis would be useful in the field of Business and Finance. I know for a fact that it’s already used heavily in Marketing to figure out who would be most responsive to certain advertisements. Facebook revolutionized that model for its advertisers and has been extremely successful with it.

As far as my specific field of Finance goes, I’m sure Social Network Analysis can find its use there as well. It could be used to compare and contrast different companies in the same field to influence investing decisions. It could also be used to show where high-ranking employees went when changing jobs. This sort of mapping would be useful in forecasting how a company’s policy’s might change under new management. This, too, would be a good tool for making a decision on whether to invest or not. Combined with other forms of analysis, SNA could be a very valuable tool in the field of Finance.

Multimedia in Finance

Multimedia plays a great role in my field of Finance. There is so much information being created and analyzed at any one time in the stock market that it all has to go through an intensive period of organization in order for it to be understandable. Furthermore, all of this information is interactive insofar as it can be changed by any one person’s trading of stocks.

A concrete example of Multimedia in Finance is the television network CNBC. While the New York stock market is open, and even for a while before and after, two tickers scroll accross the bottom of the screen. They display the current prices for many of the market’s most popular stocks for the day. The different stock symbols are highlighted in different colors to represent their activity throughout the day. These stocks are constantly changing, as well as constantly being analyzed and discussed by the people on screen. Such interaction with the information is a prime example of Multimedia.

Multimedia in Finance

Multimedia in the financial field is used in a number of ways, the main purpose of which is to relay as much financial information as possible in the quickest manner. Finance uses multimedia as a tool to describe the financial world which incorporates words, numbers, and graphs. Also their are several pod casts and blogs about different financial and economic situations. For the most part the financial world takes advantage of multimedia as much as they can.

The only suggestion I could make would be to create more interactive programs so that people could fiddle with future forecasts and see causes and effects of changes that are made within markets and interest rates. This would enable people to be more involved and empowered in their own financial decisions. Other than that, I find that the competition bred by the financial sector already encourages new ways to disseminate and provide information.