Friday, April 03, 2009
Why Google Really Wants Twitter: Real Time Sentiment Analysis Scoring
Imagine the price marketers would pay for a tool that provided instant feedback from millions of people, opposed to the typical focus group.
In my opinion, Google (NASDAQ:GOOG) wants Twitter's live data, which provides instant sentiment analysis via scoring tools such as Twendz.
Twendz mines Twitter conversations and alerts you to brewing trends, conversation topics and points of view. Most of all, it provides sentiment scoring with a keyword-based approach.
Meaningful words in each tweet are compared against a 'dictionary' of thousands of words that are associated with positive or negative sentiment; each word receives a score that, when combined with the other scored words, allows twendz to make an educated guess at the overall tone of a tweet. After Twendz scores a handful of tweets matching certain criteria, it extracts key terms, assigns a tone rating to each of those, and assembles them in a word cloud.
Google Trends offers a glimpse into popular search trends, but marketers want to know more than the phrase you're searching for, they want to know your take on a product or person. Political advisers focus on real-time sentiment displayed during debate highlights via linear graphs such as Fox News' Voters Voice. The graphs scores indicate the topics from each candidate that resonated with voters,. Imagine a text version of the Voter's Voice graph that provided real time sentiment scoring from everyone in the Twitter community. (Or anyone with a Google account)
You may recall my post about analytics company: Alterian and their survey of CMOs, titled, Calibrate how you operate, which surveyed 400 members of the Chief Marketing Council. Among its notable results, 94% of CMOs are utilizing platforms designed to better capture, qualify, communicate, convert and manage leads and customer contact information.
For demographic-specific sentiment analysis, PR companies such a Vocus offer detailed reports, but Twendz reveals the unflitered opinions of the online community as a whole. Imagine you're the movie producer for Bruno and you want to gauge the public's response after Sacha Baron Cohen appears on the Tonight Show with Jay Leno or the Late Show with David Letterman.
Producers at NBC and CBS could also utilize the data to see which guests generated the largest buzz. Advertising firms and CMOs like McDonald's Mary Dillon could monitor online reputation and detect the most effective segments of their commercials, etc.
By Matt O'Hern at 10:26 AM | Comments (4)