Precision Marketing claims that 63% of consumers refer to the Internet when making a purchase, yet businesses are missing out on an important source of customer insight by failing to analyse information from social networks.

A  new survey, carried out by predictive analytics software provider SPSS, showed that almost 90 per cent of businesses do not use social networks as a means of surveying customer opinion.

Despite this high figure, 82 per cent of businesses reported that social networks are a useful source of information. SPSS argues that social networks provide an opportunity to canvas customers on a global scale, unrestricted by language or distance barriers.

Read more about the survey here

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