In its latest report on Social Intelligence, Forrester writes, straight right from the beginning:
“Enterprises Are Still Not Using Social Intelligence To Its Full Potential”
“Social Listening Platforms’ Current Offerings All Look Alike“
Each social listening platform provider emphasizes its unique applicability and use across the enterprise. But each vendor also parades a roster of features and functionalities that largely look the same from one to the next. Buyers will struggle to distinguish major differences between each vendor’s current offering because social listening platforms all rely on the same data sources as the foundation of their platforms. … most vendors in this evaluation tap into the same third-party aggregators such as webhose.io for web content, LexisNexis or Factiva for news, … Social listening platform shoppers may find the breadth of data sources an important selection factor, but the discernment of data differentiation becomes increasingly difficult when all vendors source from the same well. ” – Forrester, Q3’18
We couldn’t agree more.
Even more if you add the current crisis of distrust in content. Magnified but far, far more complex than just some fact checking to feel better with fake news being fixed. No, fake news are just the tip of the iceberg. The issue of trust in news and information in general is to, first understand who is talking before listening to anything they say, and then, ultimately taking any action.
The immense problem today is to not profile who is talking and thus, the trust you can put in the publisher, before spreading and commenting which means adding your intrinsic support.
Intelligence needs data.
Nothing new here. AI with its deep and machine learning, needs data. Analysts need data… any kind of intelligence needs data.
Social Intelligence needs data.
Forrester makes a point by saying there is no differentiation of the offer because there is no differentiation of the data used for the Social Intelligence. Of course, we agree and that’s the foundation of TrustedOut: providing profiled media sources. Let’s have a look at the 3 references mentioned by Forrester:
Webhose.io, Factiva and LexisNexis are all about articles. We believe Media is what matters.
Webhose.io claims to be “Data As A Service”, provides articles. Factiva (Dow Jones) does the same but claims to be curated by (lots of) humans. LexisNexis does the same but focused on legal.
We totally respect those three and in no way, are we judging them. We are just saying they, all three, take an “article” approach. You could also get your articles by the author name but none is scoring them.
None of them is focusing on the media itself. TrustedOut does. Here is why:
Trust is based on a reputation. An article does not have a reputation.
An author may have a reputation but is temporary and linked to a matter.
A publisher brand definitely has a reputation and its values guarantee stability.
Bottom line: Your Trust is based on the publisher brands you value.
This is why TrustedOut is an AI-Operated profiling media database offering our clients to define their trust via sophisticated queries (65+ fields and 400+ categories) because ONLY you can define your own trust. No-one can tell you what you trust.
The distrust fix is in giving you the tools to define what you trust.
Update: Digital Content Next wrote recently “Consumer trust is a vital and a key differentiator for publishers in a competitive environment. Fostering trust, prioritizing consumer rights and offering transparency of data practices is more important than ever before for premium publishers.”. This could be from us.
LexisNexis has 10,000+ employees and $2.8 Billions in revenue, 5M users and is available in 175 countries.
Factiva was bought by Dow Jones in 2006 for $160 Millions when their revenue was $290 Millions, used by 1.8M users and 80% of the Fortune Global 500.
Webhose.io is a younger independent company out of Tel Aviv claiming 35,000 registered users, $5.5M in revenue and 115 languages.
Market is growing fast.
$4B in 2018 and according to BusinessWire: “The Global Social Media Analytics Market size is expected to reach $11.6 billion by 2023, rising at a market growth of 28.6% CAGR during the forecast period.”
Various Sector Demands is growing fast.
“Asset managers double spending on new data in hunt for edge” – Financial Times
“Investment groups have more than doubled their spending on new digital information sets and data scientists in the past two years… Asset managers last year spent a total of $373m on data sets and hiring new employees to parse them, up 60 per cent on 2016, and will probably spend a total of $616m this year, according to a survey of investors by AlternativeData.org, a trade body for the industry. It forecasts that overall expenditures will climb to over $1bn by 2020″
So, demand is fast growing…. better use content you trust.