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IBM's new social media monitoring tool will analyze everything from product names to slang.
IBM has a new social media monitoring tool called the SPSS Modeler that, according to this Mashable report, will measure consumer sentiment from data gathered on Twitter, blogs and other web services and networks.
"The software, called the SPSS Modeler data mining and text analytics workbench, will use natural language processing (NLP) to analyze everything from product names and industry jargon to slang and emoticons, and it’s already being used by some pretty big businesses.
"Navy Federal Credit Union, Rosetta Stone and Money Mailer are already using IBM’s software to understand how consumers feel about their brands, products and competitors. This software can also be put to good use by political groups, marketing and advertising agencies, research firms and many other organizations and businesses."
