May 28, 2009 - Autonomy Corporation plc, a provider of enterprise infrastructure software, has announced the release of Autonomy Interwoven Social Media Analysis, a new offering that allows businesses to convert dynamic conversations on social networks into actionable business opportunities.
Autonomy Interwoven’s Web content management (WCM) solution leverages Autonomy’s Intelligent Data Operating Layer (IDOL) to provide a solution for profiting from social media. According to a press release from the company, Social Media Analysis automatically listens to social media content, analyzes the dialogue to understand sentiment and enables marketers to act on insights to protect their brand and drive revenue growth.
“Social networks – which by nature are dynamic, unstructured forms of information – do not fit neatly into traditional, database driven analytics systems,” says Anthony Bettencourt, CEO of Autonomy Interwoven in a statement.
According to the release, Autonomy’s IDOL uses clustering, pattern matching techniques and probabilistic modeling to treat words as symbols of meaning rather than data points, yielding a contextual set of data for marketers to act upon.
The popularity of social network sites like Facebook, Twitter and YouTube continues to grow, but corporations remain largely unsure how to generate revenue from social media. For now, the approach has been to develop monitoring techniques and strategies to gauge and act upon consumer comments.
Bill Baker of Visible Technologies told Information Management in a recent interview that customer sentiment is readily available on the Web. “When it comes to what is going on in consumers' minds, they're already out there expressing that in social media,” says Baker. “They're blogging, twittering, on review boards or forums. They're giving sellers the best opportunity ever to go find out what their customers are thinking.“
Visible Technology’s approach to customer sentiment is to robotically read blogs, determine how influential the writers, are and whether comments are positive or negative. The results are presented in a dashboard. As social media interest surges, Visible Technologies is expecting 300 percent growth year over year.
Autonomy Interwoven Social Media Analysis includes a set of connectors into social networks, enabling a single point of search for all user generated content and is currently available.
Julie Langenkamp is editor-in-chief of Information Management. She can be reached at julie.langenkamp@sourcemedia.com. Follow her on Twitter at @JulieLangenkamp.
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