Sentimental analysis tools have mostly been a buzz with not much of a serious effort/traction. But the opportunity to mine billion of data generated thru’ social media is huge and that’s where Setu software’s product, Veooz is betting on.
Veooz (pronounced as views) tracks views/opinions expressed by social media users from across the world on people, places, products, movies, events, brands and extracts sentiments out of it. The company is currently capturing conversations from FB, Twitter, News Comments and Blogs; and plans to extend these sources to rest of the popular social media sources as well like Google+, LinkedIn, Pinterest, etc.
The platform has been developed by Hyderabad based SETU Software Systems and the tool has already analyzed user conversations on over 500 million topics and boasts a processing rate of 100 million views a day.
In terms of the algorithm, Veooz automatically identifies various concepts or entities from user conversations, spread across one or more posts and computes the sentiment in context of each concept. This is based on the language and its semantics in the user posts.
Unlike several other social media platforms that focus on B2B market, Veooz is currently targeting B2C
While traditional means like providing APIs, premium features to businesses are always available, we are currently focussed on increasing the traffic by providing more information with a purpose of creating additional revenue streams using our aggregating platform. Our aim is to popularize this service for consumers and establish Veooz.com as a medium for netizens to benefit by understanding what is being discussed on various social networks about their favourite topics.
Interesting that the company is targeting consumers first (and not enterprises), though use-cases for consumers need to be more actionable. For example, sentimental analysis of Flipkart reveals that the company has 50% positive sentiments – but that doesn’t really mean much to a consumer. Next level of detailing could be around better taxonomy of the brand (think of it as a social version of mouthshut?) that brings several aspects of the brand in picture (delivery, customer support etc).
Plus, the team can also look into topical areas like ‘Impact of consumer brand sentiments post advertising during Diwali season‘ – i.e. they already have data (distributed over timeline) – so building a B2B reporting business could be quite a bit of fun!
Do give Veooz a spin and share your comments.