NewsDataSift’s VEDO Intent launch to Advance Social Data Analytics Market

DataSift, the big data analytics marketing tech firm, which helps harness human data in real-time, unveiled VEDO Intent – to use “machine learning” capabilities with its social and human data platform – for marketers to understand customer intent.

The new technology, significantly simplifies machine learning, and lets organizations take action based on the intent of their audiences. While social media is vital for marketing and customer service, extracting industry or customer insights has been limited to analyzing brand health and measuring sentiment (positive, negative or neutral). With DataSift’s VEDO Intent, gaining more nuanced insights into market interest and surfacing customer intent to purchase becomes possible.

The tool allows data analysis to move beyond the basics of sentiment analysis by analysts or data scientists using data from social networks, blogs, news articles and discussions. Considering the exponential volumes of human-created data, this manual approach to analytics is neither scalable nor cost-effective. A programmatic approach to automating and enable deeper insights is what VEDO Intent offers organizations.

VEDO Intent builds on VEDO, the programmable intelligence engine built into DataSift’s data processing platform, letting marketers, customer relations managers to easily build advanced machine learning-based classifiers.

Using the Active Learning approach, VEDO Intent learns as posts are manually classified into categories such as rant, rave, purchase intent or churn. This is further built into a machine learning-based model to first suggest, and then fully automate, the real-time classification of millions of posts to gain insights that previously would have been hidden.

By having a system carry out the data analysis, VEDO Intent also protects individuals’ privacy. It will automatically categorize social data based on its meaning, helping you to transform it into useful data for your application or service. Marketers will have real-time answers to:

• Which products are people considering buying?
• How satisfied are my customers? Are they thinking of leaving me?
• How important is this campaign message?
• Are my target markets interested in my marketing program?
• Which parts of my service prompt the best reviews?

In addition, DataSift is also initiating ‘Forum’ to advance innovation and accelerate the application of machine learning and data science to the ever-growing universe of social media data. This will enable partner ecosystems to develop and productize advanced algorithms and applications for human-created data. ‘Forum’ members get access to social, news and blog data, and foundational, statistical models and representing the basic building blocks for advanced analytics and insights. ‘Forum’ also guides marketers to the keywords and hashtags that they should be using in their analysis or within their campaigns.

Tim Barker, Chief Product Officer, DataSift explains, “Organizations have long recognized the huge potential of social data – it’s the voice of the market and the voice of your customer. Companies are now hungry to go beyond sentiment analysis into more advanced insights. Social data has evolved. Everyone from financial institutions through to the United Nations refers to it and we recognized that people need actionable, nuanced insights from social data to better understand their audience’s mood and intent.

“With our FORUM initiative, we want to drive and support innovation and advances in analytics, data science and machine learning algorithms. By providing data scientists and developers with access to Foundation Models, we can help accelerate the entire ecosystem to gain deeper insights from the world’s social data.”