A majority of Maltese enterprises analysed social media data in 2018

Maltese enterprises are adopting a financial strategy based on trends on social media. The National Statistics Office (NSO) has released survey results that say that a majority of the enterprises that responded analyse data generated from social media.

A total of 554 enterprises in Malta analysed big data, extremely large data sets that reveal patterns, trends, and associations especially relating to human behaviour and interactions.

62% of these enterprises obtained this data through social media sites like Facebook.

This can include page likes, comments, shares, and any interactions with sponsored ads on the website.

Out of 554 enterprises, 153 businesses even analysed geolocation data from the use of portable devices. The most common type of business that made use of this data was in the accomodation and food service sector.

Following close behind, 37 wholesale and retail trade companies made use of geolocation data as well.

This could prove useful since NSO's same survey revealed that close to 90% of all Maltese enterprises had a website in 2018, which website even offered its services and goods online, leading customers to quick purchases. 

Out of 2,271 enterprises, 473 Maltese businesses conducted sales in this method in 2018 compared to 387 in 2017.

In 2018 alone, the turnover generated by Maltese enterprises via online purchases amounted to €785 million. 86.9% of sales took place through the enterprise's own website or app, while 13.1% of purchases took place through a third-party website.

Businesses using internet services are becoming more common and the trend is likely to continue as the NSO survey showed that a total of 830 enterprises purchased cloud computing services in 2018, a service that allows companies to use a network of remote servers hosted on the internet rather than on a personal computer.

During 2018, 49,671 employees used the internet for business purposes, resulting in an increase of 0.2% over the previous year. Most enterprises employ ICT specialists and even offer ICT-related training to employees.