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March 20, 2009

chart1Similar to a lot of the companies that I have discussed in previous posts, the company Biz360 stands as another very good social media measurement company. The company’s goals is to improve a business’s ability to make decisions by providing them with information gather from online and print sources and analyzing that in to useful data. So similarly to Radian6 and Nielson Buzzmetrics, Biz360 is working to identity the buzz surrounding your company. For a comprehensive list of some ways that Biz360 helps companies, click here.

Biz360 operates using  “The Market360 Platform” which is a technical service that constantly collects and analyzes information from multiple sources including print, social media, and online product/expert reviews. They look at trade journals, newspapers, consumer review sights like Amazon, and many more.  Then they  analyze the information into three different categories: Media insights, Community insights, and Opinion insights.

Recently, Biz360 launched the new branch of the service called Opinion Insights, which monitors consumer opinions on shopping and review websites. This data collection gives companies the data about what their consumers are saying about their products and their competition. This type of knowledge is invaluable to corporations because not only is this company searching through blogs and postings to find something written about your company’s products but they also are examining websites that have already built in consumer reviews. From shopping online, I have first hand knowledge how important these reviews can be when I make a decision on a product from clothes or a digital camera. So to have this type of information to be neatly packaged up and analyzed for a company seems like a pretty ingenious idea to me.

4 Comments leave one →
  1. dshimy permalink
    March 20, 2009 11:54 pm

    Thanks for the feedback! I’m in charge of the technology department at Biz360 and in addition to the Opinion Insights product you mention above, we just launched our Community Insights product aimed as social media measurement and engagement. I’d love to show it to you. Thanks!

  2. Jessica Goodman permalink
    March 22, 2009 6:43 am

    As someone not amazingly familiar with the best ways in which to measure the successes of new social media within a corporation, yet very aware of how important that information can be to a company, I am interested to hear about all of the social media measurement companies that you have been discussing! In terms of Biz360, I like that they break down the information that they discover into the categories of Media Insights, Community Insights, and Opinion Insights because any information that you uncover about a company can be vastly different than the next piece of information, and can also have a different value to the company. Therefore, it seems only logical that all information should not be grouped together and analyzed in the same manner. I also liked how you defined and discussed the new Opinion Insights category in your post! I would, however, like to read more about the Media Insights and Community Insights categories.

  3. Elaine Bussjaeger permalink
    March 22, 2009 11:41 pm

    Aggregating opinions about a product seems like a pretty ingenious idea to me. There have been countless times that I have used online customer reviews to decide if I really want to buy something. I just feel like I am going to get the most honest information about a product from consumers that have used it and have no stake in the company they bought it from. I think this feedback is just as useful to the company who sells the product. It would be valuable for a company to have all of this information gathered for me, rather than having to search for it.

  4. Lauren Hensel permalink
    March 23, 2009 1:23 am

    I really find these social media measurement companies interesting to learn about as well. I never really thought about these companies but your blog has shown me how important they could be to a business who wants to know how their social media is being perceived by various publics. I agree with Jess in that Biz360’s separation of Media Insights, Community Insights, and Opinion Insights is one of it’s most valuable attributes. It really helps to know not just the data, but where it fits within a corporation’s business strategy. By dividing it up, it really pinpoints these attitudes. I would also love to hear more about the Media and Community categories and what differentiates how it is calculated and interpreted.

    These types of companies seem like a great addition for any business’s arsenal and could really be critical in determining successful strategies.

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