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Firms could use the data to do simple things, he says, like monitoring sentiment towards their brand or product.
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They will monitor sentiment online in an effort to adapt quickly to the pace of the super-charged, social media driven 24-hour news cycle.
While many of these tools monitor sentiment around Tweets and updates including a brand's name, Keenkong takes a slightly different approach.
That bureau traditionally worked on circulating official information and censorship guidelines, but with the evolution of the Web, it has become more occupied with monitoring public sentiment over news developments on user-generated services.
Yet they are also monitoring supporter sentiment.
And today IAC-owned local media and advertising property CityGrid Media is acquiring its own social media monitoring and sentiment analysis platform, BuzzLabs.
Daniel Upton and Adam Rice's company provided search, monitoring, and sentiment analysis of big social media data sources, while BLiNQ licenses white-labeled tools to ad agencies for buying ads through the Facebook Ads API and other social services.
If an algorithm that is monitoring Twitter sentiment tells you that you should sell your Apple shares because the probability of Steve Jobs retiring is 80% higher today than it was yesterday, would you sell?
The TV may be blaring results, but the presidential candidates' staffs may also be following the Twitter Political Index, a new feature that monitors political sentiment on Twitter.
What the company should have done was monitor the sentiment on social media and act quickly and decisively to not only fix the problems, but to tell people that it was fixing the problems.
WALL STREET JOURNAL Twitter Introduces a Political Feature | A feature called the Twitter Political Index monitors political sentiment on Twitter, mining hundreds of millions of tweets for opinions about the 2012 presidential candidates, the Bits blog writes.
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