IBM And Twitter Start Joint Venture To Deliver Cloud-Based Data Analytics Services
IBM and Twitter teamed up in last October with the purpose of offering the joint services. Now, the purpose has finally been achieved as IBM is bringing developer tools and cloud-based analytics services for the data that belongs to Twitter.
Twitter hosts colossal piles of data. Statistically, people share about 6,000 tweets a second on the social networking website, which suggests tally data more than half a billion each day.
“IBM’s unique capabilities can help businesses leverage this valuable data, and we expect to see rapid demand in retail, telecommunications, finance and more,” said Chris Moody, Vice President of Data Strategy at Twitter.
The data services run on IBM’s Watson artificial intelligence technology, which “can identify and explain hidden patterns and relationships, accelerating the understanding of why things happen and what’s likely to happen in the future,” the press release stated.
To burgeon the joint services, IBM experts have coached 4000 consultants and engineers on how they can make use of the Twitter in their own projects. Additionally, 100 corporate clients have also worked with IBM on various industrial projects.
“We thought the early interest would be in consumer products and marketing, but it has turned out to be much broader than that,” said Alistair Rennie, general manager of IBM’s analytics business. The GM further said that due to the huge interest of the companies to use Twitter data, IBM went on to guide them so they can effectively manage their projects and complete the phase of manufacturing planning.
IBM is not hinting any of the companies which have used its Twitterized technology, though the tech firm annotated on how it works. The examples which IBM termed as “insight as a service” suggest that it combined the data with other relevant factors in order to infer predictions.
One such example it relates to is the assimilation of tweets with hyper-local weather data, this led to make predictions about say potential impairment of the telephone or cable services. “Using the data-fueled predictive models, customer churn was reduced by 5 percent,” IBM says.
IBM is essaying hard when it comes to utilization of the social media data. The reason is obviously the high competition. Rivals including SAS Institute, Adobe, Oracle, Salesforce and DataSift which have been trying to mine data from the social media sites for insights.