I have previously commented on what some businesses were doing to use social media to their advantage, but I just came across an article about the science of tracking people’s mentions of your brand and coming up with your approval rating (yes people… approval ratings are not just for the president anymore).
Online reputation management is not new. I’m sure all of you know there are ways one can track mentions of a name, company name, word, etc. online. Some of these options are free, and this works perfectly for an individual or small business, but when you have millions of people talking about you and you want to know what they feel, there needs to be a system in place to interpret all of that data.
What WiseWindow is doing that is new and amazing, is that they have created a new way of doing market research that takes advantage of all the unsolicited, unbiased and spontaneous information that populates the internet. Their platform MOBI (Mass Opinion Business Intelligence) combines proprietary deep website crawling, relevance recognition and statistical natural language analysis to produce real-time data that can help businesses evaluate people’s opinions of their brand.
They can monitor responses to ads, news, product launches, events and can also monitor people’s responses to competitor’s actions as well, so they can track how they are doing in comparison.
Forget focus groups and polls that take a long time to produce usable data and only reflect the opinions of a few. Why wait when you can know what millions are thinking whenever you want. By the way, learning about these ancient market research tools in school is also a thing of the past, since WiseWindow has provided Harvard Business School students with a version of their platform so they can apply this new technology to their school projects! talk about state of the art!