- 8/2/2011 11:29:01 PM
True enough, aaphil,
I suppose the word "perfect" isn't quite right. However, when one thinks of a huge data sorting system capable of searching for countless pieces of "unstructured" data with little or no control over how that data was initially entered, the results Google gets are still quite impressive even if familiarity has taken away some of the wonder.
- 7/26/2011 10:09:26 PM
In a sense, it has already hit mainstream. Imagine a vast store of data in a wide variety of formats all organized by the perfect analytics system. You use it every time you search the Web with Google. In a sense, a similar tool except that data is constantly being ordered and reordered depending upon each successive query.
- by magneticnorth0, Data Doctor
- 7/24/2011 10:47:29 AM
Wow, this is like content analysis on steroids. If this hits mainstream, a number of graduate students will save themselves from a lot of dirty work.
I think one great application is analyzing informal organizational communication. It's easy to analyze formal communication (i.e. from top to bottom in the hierarchy), but all the action really happens as communication criss-crosses the organization.
- 7/21/2011 4:30:37 PM
Both sound very interesting and like additional examples I would love to have a look at. Would you have any links to more information on these two studies that you could share?
- 7/21/2011 12:43:33 PM
The application for political campaigns is a matter of teaching a new dog old tricks. Political candidates are a brand, just like Pepsi and Clorox. Nice to see it being applied beyond marketing "traditional" products.
Even more impressive is sentiment analysis on factors beyond positive and negative. Derwent Capital Markets, the British hedge fund that bases its investment decisions on Twitter activity, is focused not on "positivity" or "negativity," but on calmness. The study upon which Derwent's methods are based measured six different sentiment categories, and found calmness to be the one that had predictive effect -- able to predict the stock market up to six days in advance.
It's important to note that the Tweets Derwent looks at are not stock-specific Tweets -- just general Tweets. The fund is able to gauge future stock market performance simply on the "calmness" of the content of everyday Tweeters.
Another study from 2008 found that expressions of fear and anxiety in LiveJournal posts correlated with future stock market performance.
- 7/21/2011 12:34:19 PM
One of the most interesting aspects of the Webinar was a case study in which keywords were classified based on their positive or negative attributes as a way to identify potential negative press coverage rapidly and give the client an opportunity to prepare a rapid response. The implications for political and other attitude sampling, while not specifically related to business, could be profound.
- 7/21/2011 12:17:37 PM
This is definitely an important, fast-growing area. Organizing and prioritizing is only the tip of the iceberg; there is also decision-making. Sentiment-based analysis, for instance, is already being used to predict financial outcomes, such as with the stock market and box office receipts. And in social media, certain keywords often result in greater engagement.
ANALYTICS IN ACTION
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- by James M. Connolly