Several years ago, while developing cutting edge marketing solutions which leveraged social data at Spredfast, Ken Cho realized that data collected from social platforms was not truly being taken advantage of. He understood that all companies must ensure that their services and marketing efforts are personalized, provide ongoing value, and continually win the hearts (and share of wallet) of their customers. This is traditionally done through market research, but traditional market research is broken and cannot keep up with the expanding reach that modern technology is providing to more and more customers.
Traditional market research provides great insights but relies on poor data. Nobody answers polls anymore, and the people who do hardly ever answer them honestly. Yet there is a vast ocean of open and public opinions which have no bias. This is the ocean of social data, which is growing exponentially. Unfortunately, most modern social marketing platforms do nothing more than count hashtags or mentions, there is no true analysis happening and no customer intelligence being provided.
This is when Ken realized that it was the marriage of the two, traditional market research and the vast amount of opinions available in social data, that would be the next generation of market research. The key to this was the need for natural language processing and machine learning. This is where Ken partnered with Jason Baldridge, then a professor of computational linguistics at the University of Texas at Austin, to use machine learning, exploratory data analysis and natural language processing to create the world’s best audience intelligence solution based on semi-structured social data. This allows companies to remove the silos around traditional marketing and social marketing, and leverage social data to provide value across the whole organization. Insights are developed faster and customers can be activated directly on the relevant social platforms.