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This is quite the shot across the bow for existing sentiment and text analytics platforms. Do we finally have a contender for an enterprise level social media/text analytics platform that can truly deliver impactful behavioral insights?
Here is the post:
This is crazy.
Organizations have every right to be skeptical of the current crop of sentiment and text analysis tools on the market, a fact supported in a recent article by eMarketer. The author points out that 40% of the companies feel their social media analysis efforts are “not effective,” and 47% say their efforts are only “somewhat effective,” and a scant 13% of the companies feel that their efforts are “very effective.”
This is crazy, but it’s not a surprise. Clients are telling us that “automated” social media analytics providers that claim to do sentiment analysis do so at an abstracted level that causes too many false positives, and are therefore, unreliable. On the other hand, they could opt for hand-crafted $250,000 reports that are more accurate, but are produced on small samples of data, and can take weeks or months to produce (hardly real-time and hardly affordable). Further, across the board, little attention is being paid to understanding the underlying the context of social media conversations or the emotions of the author, which when accurately measured, tell us much more about the person behind the post.
The craziness stops – now.
Due to the extraordinarily high levels of dissatisfaction with sentiment analysis tools, Decooda has decided it’s time for the craziness to stop. Today we are announcing an API based service that will enable clients to upload or stream any social media data directly into the Decooda platform so that we can “identify the person behind the post.” We will measure the context of the conversation, the author’s state-of-mind, underlying emotions and predict behaviors in real-time. To make this as simple as possible, Decooda will open the door to virtually ever source of data; public social media data, private social media data, enterprise data, and even ingest data from other social media data providers, including: Radian6TM, NetBaseTM, SysomosTM, Crimson HexagonTM, AlterianTM, and almost all other providers.
What we will do for you.
Leveraging our proprietary cognitive and linguistic analytics algorithms and big-data platform, we will do the heavy lifting by automating the end-to-end data analysis process for brand marketers and market researchers. Specifically, we will help clients understand why certain emotions impact how customers think, feel, and act towards the products they’ve purchased and use, and most importantly, how those thoughts and feelings translate into behavior (i.e., return the product, recommend to friends, tweet about the product, etc.).
From these rich datasets and our advanced analytics, we derive human behavior. For example, we know that, in general, women in their 30s with X education, Y income, and living in Z region are likely to experience A, B, & C emotions toward products, which translate in to “n” behaviors. It is this level of analysis that allows brand marketers to accomplish the following:
- Perform “topic” level analysis
- Measure author state-of-mind
- Measure underlying emotions
- Predict behaviors
- Monitor the social landscape for any combination of discrete variables: topic, state-of-mind, emotions, demographics, personality, etc.
- Trended analysis of the social landscape
- Understand how to engage in a relevant manner with the targeted audience in order to drive optimal results
So, if you want the craziness to end and you want your social media efforts to be “very effective,” call Decooda today. We will help you get the most out of your investments by getting you the valuable insights you want, when you want them, at an affordable price.
It will be very interesting to see how this plays out. It's a bold move for them to position themselves as a "source agnostic" universal platform. I wonder how the sentiment platform providers will take this? What do you all think?
Today Decooda posted a follow-up that gives more details on their platform architecture and process: http://decooda.com/2012/01/818/. It's titled "Decooda Social Media and Big Data Analytics Platform – For the Masses" and is pretty darn interesting.
Curious to know what other make of this...