DataSift announced the launch of VEDO Intent, a new technology that significantly simplifies machine learning, helping developers to place it into the hands of people across the business. Organizations will be able to harness the full potential of social data and take action based on the intent of their audiences thanks to our advanced machine learning capabilities that surface intent at scale.
Currently, social media is vital for marketing and customer service, but extracting industry or customer insights has been limited to analyzing brand health and measuring sentiment (positive, negative or neutral). With DataSift’s VEDO Intent, you can take analysis further, gaining more nuanced insights into market interest and surfacing customer intent to churn, purchase and more. This is a new era in social data analysis where you can now move beyond the basics of sentiment analysis.
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,” explains Tim Barker, Chief Product Officer, DataSift. “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.”
Until now, identifying intent from human-created data – such as social networks, blogs, news articles and discussions – has relied on an army of analysts reading and classifying data by hand. With volumes of human-created data increasing exponentially, this manual approach to analytics is neither scalable nor cost-effective. A programmatic approach to automating is the only viable and economic path forward to enable deeper insights.
With this launch, DataSift is democratizing access to machine learning for the masses. VEDO Intent builds on VEDO, the programmable intelligence engine built into DataSift’s data processing platform. It allows people across the business, including marketers, customer relations managers and more, to easily build advanced machine learning-based classifiers for their organization without the need of a PhD.
Using an approach known as Active Learning, VEDO Intent learns as posts are manually classified into categories such as rant, rave, purchase intent or churn. VEDO Intent then dynamically builds a machine learning-based model to first suggest, and then fully automate, the real-time classification of millions of posts to surface insights that previously would have been hidden. By having a system carry out the data analysis, VEDO Intent also protects individuals’ privacy.
DataSift VEDO Intent will automatically categorize social data based on its meaning, helping you to transform it into useful data for your application or service. Now, you can easily answer questions such as:
- 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, the company is also announcing the FORUM initiative to help advance innovation and accelerate the application of machine learning and data-science to the ever-growing universe of social media data.
DataSift believes this will enable their partner ecosystem of data scientists, developers and analysts to develop and productize advanced algorithms and applications for human-created data. Drawing from the company’s huge historic store of more than a trillion items of social, news and blog data, we will publish and maintain foundational, statistical models for FORUM members. Representing the basic building blocks for advanced analytics and insights, these models enable data scientists and developers to innovate, experiment and build advanced analytics and algorithms.
To launch the FORUM initiative, the company is making the preview of its first statistical model – Foundation Model – available now. DataSift’s first Foundation Model applies deep learning algorithms to help analysts explore related hashtags, keywords and topics that are related, based on analyzing over 2 billion of items of data. One simple, practical use for this is to help guide marketers to the keywords and hashtags that they should be using in their analysis or within their campaigns. You can gain access to Foundation Models by joining the FORUM initiative: www.datasift.com/forum
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