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BuzzTalk gives unprecedented access to unstructured, textual data, providing new market information to support decision making. BuzzTalk offers a revolutionary shift in the way market monitoring and analysis is done, enabling new ways to facing today’s marketing challenge.
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A revolutionary shift in the way market monitoring is done
Byelex Showcase
BuzzTalk ClientByelex B.V.
TechnologyJAVA, Oracle, GlassFish, PostGreSQL,
FusionCharts
Delivery2010 - 2011
Facing today’s marketing challenge
Today’s marketing challenge is to improve ROI by
saving investments and increasing return. Marketing
professionals are using advanced market research and a
rapidly increasing range of support systems for enhanced
budgeting, planning, and decision making. Meanwhile
Social Media are proliferating, and massive data flows are
containing huge amounts of valuable, yet under-utilized
marketing data. The launch of BuzzTalk1 might change
this quite rapidly.
BuzzTalk gives unprecedented access to unstructured,
textual data, providing new market information to support
decision making. BuzzTalk offers a revolutionary shift in the
way market monitoring and analysis is done, enabling new
ways to facing today’s marketing challenge.
1 https://buzztalk.nl/
Technology used in this application
A Compelling Perspective
Marketing management support functions
According to Asur and Huberman2 social media content
can be used to predict real-world outcomes. In particular,
they use the chatter from Twitter.com to forecast box-office
revenues for movies. A simple model built from the rate
at which tweets are created about particular topics can
outperform market-based predictors. And sentiments
extracted from Twitter can be utilized to further improve the
forecasting power of social media.
BuzzTalk is perfectly suited for monitoring and analyzing
tweets, blogs and news sites, and for picking, choosing,
enhancing and presenting relevant information. For
example it will easily:
• Identify new trends;
• Detect hypes and spikes;
• Monitor and analyse the reputations of people,
companies and brands.
It will do so in minutes.
What it does
“Intuition will tell the thinking mind where to look next”
said Jonas Salk, discoverer of the polio vaccine. From
this perspective BuzzTalk not only will tell the marketing
professional where to look next, it subsequently also
supports her in doing so.
2 Sitaram Asur, Bernardo A. Huberman (2010) Predicting the Future with
Social Media, http://arxiv.org/abs/1003.5699v1
Spike detection
How it works
BuzzTalk can generate reports that are based on a whole
spectrum of user defined searches. These reports provide
information and analyses of the online publications and
social communications on the Internet about the specified
search topics.
BuzzTalk is currently mining 16,000 feeds worldwide,
mainly in the United States (over 7,000 feeds), The
Netherlands (5,000 feeds), United Kingdom (1,000 feeds),
Belgium (700 feeds), and Canada (500 feeds).
Byelex Showcase
A revolutionary shift in the way market monitoring is done
BuzzTalk
This engine searches the article for facts within 36 groups
such as: Industry Term, Organization, Company, Market
Index, Person, Country, Region, City, Political Event, Sports
Event, Technology, Operating System, Programming
Language, Published Medium, Medical Treatment, and
Music Album. It tags those facts and returns the results.
Each document is cleaned and translated into English.
Then the sentiment is determined through OpenDover, the
most powerful sentiment analysis tool currently available.
If possible the subject domain is also detected. Currently
OpenDover supports 26 domains including: Politics,
Disaster, Ecology, Economics, Finance, Business, Health,
and a range of products, including Health Insurance,
Medical Care, Pharmaceuticals, Food, Beverage, Audio
Players, Cars, Computers, Phones and Software.
After an article has been sentiment tagged it is sent to
OpenCalais, the largest fact tagging engine on the web.
BuzzTalk then generates reports such as:
• Overall buzz within reported period for the selected
search term(s): with a breakdown of the total number
of documents into Positive, Negative, and Neutral.
• Tag analysis: BuzzTalk reports in which tag groups the
selected search term is most frequently mentioned.
The top 3 of these groups are broken down to the
most frequently used tags within the group.
• Top 25 most active sources for the selected search
term(s).
Influencers dynamic top 50
BuzzTalk technology
Three types of data sources
BuzzTalk collects all text documents from 16,000 of the
most active websites around the globe, 2/3 are news sites
and 1/3 are blog sites. The authors of these documents are
mainly journalists and opinion leaders respectively. The
total number of monitored websites will grow to 43,000 in
the near future. These data sources are complemented by
Twitter, through which consumers express their opinions.
Opinion mining and sentiment analysis
BuzzTalk applies a division of opinion words into ordered
categories, expressing:
• a Personal emotional state: happy, delighted, sad,
angry;
• Appreciation: flexible, efficient, stable, ideal, highest;
• Judgement: active, decisive, caring, intelligent.
This division is one of BuzzTalk’s cornerstones for opinion
mining and sentiment analysis.
Byelex Showcase
A revolutionary shift in the way market monitoring is done
BuzzTalk
OpenDover
BuzzTalk contains a unique combination of OpenDover3
(the best Sentiment Tagging Engine) and OpenCalais4
(the best Fact Tagging Engine).
OpenDover is a sophisticated web service that allows
the professional to extract semantic features within
blogs, content management systems, websites, tweets or
applications.
OpenDover uses semantic technologies for sentiment
tagging texts, including:
• A unique knowledge base of opinion words, domain-
related words and intensifiers extracted from hundreds
of thousands of opinion-related texts;
• Diverse expressions of opinion words and phrases:
adjectives, nouns, verbs (both explicit and implicit);
• Automatic recognition of context dependent and
context independent opinion words.
OpenCalais
Calais is a rapidly growing toolkit of capabilities powered by
Thomson Reuters. It allows BuzzTalk to readily incorporate
state-of-the-art semantic functionality within blogs, content
management systems, websites or applications.
The OpenCalais Web Service automatically creates
rich semantic information about the content BuzzTalk
submits – in well under a second. Using natural language
processing, machine learning and other methods, Calais
analyzes a document and finds the entities within it. But,
Calais goes well beyond classic entity identification and
returns the facts and events hidden within the text as well.
The tags are delivered to BuzzTalk, which then incorporates
them into its analyses and reports.
3 http://opendover.nl/
4 http://www.opencalais.com/
Language independent
Information enhancement and decision
support - conclusions
Information enhancement involves taking data in their
raw form, removing as much noise and redundancy as
possible, and bringing out a core that’s ready for further
processing. This basic function of BuzzTalk, performed
on facts, opinions and sentiment, makes it particularly
suited for supporting the marketing function. For, next to
facts and figures, opinions and sentiment in the market are
of vital importance for decision making by the marketing
professional - at the strategic, tactical and operational
levels.
Byelex Showcase
A revolutionary shift in the way market monitoring is done
BuzzTalk
www.byelex.com www.internetunlimited.nl www.picopoint.comT: +31 (0)165 - 33 22 44 T: +31 (0)165 - 33 22 44 T: +31 (0)165 - 33 22 46F: +31 (0)165 - 33 22 49 F: +31 (0)165 - 33 22 49 F: +31 (0)165 - 33 22 49
Byelex Multimedia Products B.V., Argon 1, 4751 XC Oud Gastel
Contact information
Other areas where this is true include:
• Politics (policy making, campaigning, debating);
• Financial services: banking (risk management), fund
management (pension, trust funds, hedge funds).
Behavioural economics tells us that emotions can
profoundly affect individual behaviour and decision-
making. Recent research results indicate that the accuracy
of Dow Jones Industrial Average index predictions can be
significantly improved by the inclusion of specific public
mood dimensions5 . We are currently investigating what role
BuzzTalk should play in this respect.
BuzzTalk could also add a new dimension to news services
by providing:
• Journalists with supporting evidence for interpretation;
• Editors with identification and in-depth analyses of the
key issues in current affairs;
• Both with finding hot areas of interest at an early stage.
Our conclusion:
BuzzTalk has the potential of rapidly becoming a valuable
tool for decision makers and professionals in a wide range
of industries, providing them with an advantage over
competition.
5 Johan Bollen, Huina Mao, Xiao-Jun Zeng (2010) Twitter mood predicts the
stock market, http://arxiv.org/abs/1010.3003v1
Stock exchange information