Social Media Analytics: IBM’s New Tool

An innovative new social media monitoring tool has been announced from IBM today with the idea being to analyze consumer sentiment from social media such as Twitter, websites, blogs and networks. The software is called, now wait for this, the SPSS Modeler data mining and text analytics workbench, a catchy little title!

A whole range of things including product names and industry jargon will be analyzed using natural language processing or NLP, according to mashable.com. Among many of the large businesses already using it are Money Mailer and the Navy Federal Credit Union although it would also be useful for political groups, ad agencies, research firms and many more.

Companies using the software will be able to track what people think of their brands and products, and what could be more useful than knowing what consumers feel about your competitors? It will also enable firms to merge their internal data with that of the wider market to give an extensive overview.

For more on this story go to mashable.com. It’s said that it may be more useful for large enterprises rather than small businesses, as the cost may be too expensive for smaller companies. What do you think of IBM’s new software and could you perceive it useful for your business? We’d be interested to hear your opinions.

  • jim

    very good