A regular review of interesting cultural shifts & marketing developments as viewed through the collective lens of the Stancombe Research + Planning Team

Monday, September 26, 2011

Is Twitter friend or foe?

An interesting SMH article today talks about a company (Julpan) just bought by Twitter for an undisclosed (probably astronomical) amount of money.

The company’s key piece of IP “is an algorithm which analyses all manner of activity on the social web - from Tweets to status updates - to provide a real-time snapshot of what the world is thinking and doing this very moment. The formula also takes a user's own social web activity into account to better interpret the context of a search to retrieve more relevant information.”

Here is the interesting question: Are these new tech companies / search algorithms stepping on our turf or do they represent a big opportunity?

You could say these new companies and advancements are threatening our fundamental core market research skills, such as our ability to collect data and inform clients about what their customers/potential customers are thinking. As more and more consumer information flows into the social media ecosystem via Twitter, facebook, Google+ etc, companies will start tapping into the topics, moods and needs of the market via these new tools.

While this might be a scary thought for some researchers, others could view these companies and advancements as opportunities to enhance what we already do - add value to corporate and marketing data 

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