Digital Transformation Management of Supply Chain Firms Based on Big Data from DeFi Social Media Profiles

Abstract

Emerging technologies in the digital context can favor industrial sector firms in their aim to improve their performance. Digitalization is mainly expressed through the utilization of big data that originate from various sources. Blockchain technology has led to the extended adoption of capitalization of Decentralized Finance (DeFi) services, such as cryptocurrency trade platforms. Supply chain firms, in their quest to exploit any means and collaborations available to promote their services, could place advertisements on DeFi’s social media profiles to boost their financial performance. Social media analytics, as a part of the big data family, are an emerging tool for promoting a firm’s digital transformation, based on the plethora of customer behavioral data they provide. This study aims to examine whether the social media analytics of DeFi platforms are capable of affecting their website visibility, as well as the financial performance of supply chain firms. To do so, the authors collected data from the social media profiles of the most-known DeFi platforms and web analytics from the most significant supply chain firms’ websites. For this purpose, proper statistical analysis, Fuzzy Cognitive Mapping, Hybrid Modeling, and Cognitive Neuromarketing models were adopted. Throughout the present research, it has been discerned that from an increase in the social media analytics of DeFi platforms, their website visibility increases, while the organic and paid traffic costs of supply chain firms decrease. Supply chain firms’ website customers tend to increase at the same time.