BusinessWeek: Buzz Monitoring with Tags
Posted by Hendry Lee on 09/26/05 in Social Software
BusinessWeek runs a story about tagging, especially covering the new way to use del.icio.us — a social bookmark service — to monitor the level of buzz generated online after an event.
Wiredset is on the leading edge. It’s developing a service for record labels that pulls together a variety of online data — sales on Amazon.com Inc. (AMZN ), number of blog posts, tags on del.icio.us. The idea? Allow labels to see, in real time, the impact of their marketing. If Sony BMG Music Entertainment releases an MP3 from the band Franz Ferdinand on MySpace, it can track the buzz. Or watch how an MTV video affects Amazon sales.
Tagging has been used to tag all kind of information for later retrieval, sort of an extended categorization system. But I don’t think many of Internet users are power users. I mean most of them are not savvy enough to use, or know if it exists and how it works.
If we are going to use such information to track buzz, I would suggest looking at the numbers more suspiciously. The numbers could mean one thing today and totally different a week or month later, across multiple industries.
To use this accurately, one has to know how the tagging user base represents a specific industry at that time. The release of new version of popular blog software will generate more buzz than the invention of new medicine to cure cancer, for example.
I think the reason is obvious.
Nevertheless, I am pumped up to see another good use of social tool like this. It seems to appear from every corner in a daily basis.
