The Business of Social Media Mining
By: Rich DeMuro
Jul. 12, 2013
Every day, millions of us share online our thoughts and experiences. And those very reports are shaping the way organizations and companies make decisions.
Digging through the social stream of consciousness are experts from groups like Attensity Media. Using sites like Twitter and Facebook, Attensity Media gathers invaluable data about specific topics and filters them to produce useful data for organizations around the world.
“I think every company wants to make a better product, and this is a great way to be able to listen in real time and understand what people are saying,” said Ben Feinman, chief product officer of Attensity Media.
Using their technology the company states, on its website, they can sort information and, “identify key brand influencers and opinion leaders; understand sentiment and issues; keep on top of industry trends; and quickly extract valuable insights to drive business decisions.”
Attensity Media is ideal for brands and organizations that are interested in the insights they collect, such as early feedback on movies, TV shows, and music.
“We are not predicting box office yet… although it is something we are looking at, but we can certainly tell if a movie’s in trouble based on social lack of volume,” said Feinman.
In some cases, the company even identifies breaking news before major media outlets, such as the SFO plane crash or other breaking news situations.
“[D]uring the Santa Monica shooting, we had a topic set up and we were covering L.A., and we were able to see the spike and actually capture the first couple of messages people heard the shots fired,” Feinman said. “And then literally traced the progression until the major news folks picked it up about 15 minutes after it had happened.”
Technology like the one used by Attensity Media allows for companies and organizations today to make quasi-predictions to certain actions, making it possible to make smarter choices, whether it’s what movies film or even what dresses will sell out this season.