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Taming the Stream, TweetReach at Internet Summit

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Presentation by Union Metrics CEO and Founder, Hayes Davis at Internet Summit 2011. Nov 15-16, 2011 in Raleigh, NC.

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Taming the Stream, TweetReach at Internet Summit

  1. 1. Taming the Stream Integrating and Standardizing Social AnalyticsTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  2. 2. About meHayes DavisCEO of TweetReachLover of bacon, analytics@hayesdavisTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  3. 3. What’s on the agenda? • About measurement • Generally accepted metrics • Evolving metrics • Black box metrics • Putting it all togetherTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  4. 4. About MeasurementTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  5. 5. Accuracy vs Precision • Accuracy Measurements reflect the True State of the World at the time the measurement was taken • Precision The same measurements under the same circumstances are consistentTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  6. 6. Accuracy in social media • In most computer systems larger than a single machine, There is no Truth • CAP Theorem says: Choose two of Consistency, Availability and Partition Tolerance • For social networks, consistency gets the axeTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  7. 7. Data collection still matters • Data collection usually done via APIs • Some APIs give better data than others: • Twitter Search excludes certain users and is limited to 1500 tweets over 7 days • Twitter’s Streaming API provides full coverage in real time if connected 24x7 • Know how your vendor collects data for each channelTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  8. 8. How to be precise • Collect data the same way every time • The channels often change the rules, be aware of these changes • If you’re relying on vendors for measures, understand any algorithm changes the make • Measure the same thing repeatedly and watch it trend over time. If there are wild swings, investigate all parts of the “data chain”Taming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  9. 9. On to the metrics...Taming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  10. 10. A simple framework Account Topic Centric Centric Owned Media Earned Media Your Content All Content Your Network Whole NetworkTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  11. 11. Generally Agreed MetricsTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  12. 12. Accepted counting metrics • “Graph” metrics like Fans/ Followers/Friends • Interactions such as Likes/ Retweets/Replies/Comments • Mention volume • Clicks http://muppet.wikia.com/wiki/Count_von_CountTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  13. 13. Some accepted KPIs • Share of Voice (Your Mentions) / (Industry Mentions) • Velocity (Volume in a Time Period) / (Length of Time Period) • Unique Contributors |Participants| • Conversion Rate (Completed Actions) / (Audience Size)Taming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  14. 14. Evolving MetricsTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  15. 15. “You keep using that word. I do not think it means what you think it means.” - Inigo MontoyaTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  16. 16. Same name, different meaningTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  17. 17. Some evolving metrics • Reach: Size of the potential audience. Sometimes applied to accounts, sometimes to overall conversation. May contain heuristics. • Amplification: How much is the reach of a message or user being increased by sharing? • Impact: What effect is a user having on a conversation?Taming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  18. 18. Black Box MetricsTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  19. 19. Data in, answer out Step 1. Step 2. Step3. Get data ??? Profit ?Taming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  20. 20. Black boxes are valuable... • Specialized providers • “Big picture” algorithms • Immense data collection • Simplified communication • Increased efficiencyTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  21. 21. ... If everyone believes$1.00 is worth a sodabecause we believeit’s worth a soda.If people lose faithin a black box, itbecomes worthless.Taming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  22. 22. Putting it all together • Aim for precision with as much accuracy as possible • Use commonly agreed definitions where possible • For evolving metrics, pick a definition and stick with it • Use black box metrics sparingly • Research the algorithm • Supplement your analysis, don’t replaceTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11
  23. 23. Questions?Hayes DavisCEO of TweetReach@hayesdavishayes@appozite.comTaming the Stream | #tamethestream | @hayesdavis Internet Summit 11

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