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Twitter has begun awarding grants to academics seeking to drink from its daily fire hose of more than half a billion tweets, and this week it teamed up with IBM so the company can glean customer attitudes toward its products.
What this means for today's marketer is the ability to glean customer insights that can be automatically applied to personalize and optimize marketing interactions, and do so at enormous scale.
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It them sends them out to drum up business or glean important customer feedback on how viable a market is, on a job-by-job basis.
The information gleaned about customers that way is also critical for retailers, he said, so they can personalize sites and offers based on consumers' browsing and purchase history.
"It's not as though someone is listening to your phone calls," says Cluley about the information cell phone companies glean from their customers.
Not, how can we increase the data we glean from our customers' lives?
Analysts said that by setting up and monitoring these online communities, companies can reduce customer-service inquiries, and, thanks to improving technology, sift through the dialogue and glean valuable information from customers much more efficiently than in the past.
So the more revenue they can glean from their existing customers, the faster the profits will come.
Data mining companies have long scoured social media to glean information about potential customers, proponents, fans, outraged citizens and any other manifestation of subjective choice "out there".
At the moment, the company uses a fairly common approach: sending out e-mail with recommendations gleaned from a customer's past buying or browsing behavior.
Proprietary trading, hedge funds and private equity units are three lines of business where Wall Street firms can profit mightily on inside information and data gleaned from their customer relationships elsewhere in the company.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com