Twitter Shouts: Huntsman's Out!

At Gnip, one of the most fascinating aspects of social media is ‘speed’ – specifically in regards to news stories. We continue to see a trend towards the ‘breaking’ of news stories on platforms like Twitter. Both the speed at which a story is broken as well as the speed at which that story catches on show the incredible power of this medium for information exchange. And as we’ve pointed out before, different social media streams offer different analytical value – Twitter versus a news feed for example.

Last night proved a great example of this as word of  Jon Huntsman’s withdrawal from the GOP presidential race crept out. Interestingly, the news was broken by Peter Hamby, a CNN Political Reporter–on Twitter. While CNN followed up on this news a few minutes later, it seems the reporter (or the network) realized the inherent ‘newswire’ value of breaking this news as fast as possible…and used Twitter as part of their strategy to do so!

This Tweet was followed with what we’ve begun to see as the normal ‘Twitter’ spike for breaking news – the chart below, built by our Data Scientist Scott, shows how quickly Huntsman withdrawl was retweeted and passed along. When looked at in comparison to an aggregate news feed (in this case, NewsGator’s Datawire Firehose, which is a content aggregator derived from crowdsourced rss feeds and contains many articles from traditional media providers), some interesting comparisons are brought to light.
Comparing the pulse of Twitter and NewsGator articles breaking Huntsman's withdrawal from the GOP primary race.
Comparing tweets of “huntsman” and news articles breaking Jon Huntsman’s withdrawal from GOP primary race. The blue curves show the “Social Activity Pulse” that characterizes the growth and decay of media activity around this topic. By fitting the rate of articles or tweets to a function we can compare standard measure such as time-to-peak, store half-life etc. (More on this in a future post.) The peak in Twitter is reached about the same time as the first story arrives from NewsGator, over 10 minutes after the story broke on Twitter.

Both streams show a similar curve in story adoption, peak and tail. What’s different is the timeframe of the content. Twitter’s data spikes about 10 minutes earlier than NewsGator’s. NewsGator’s content is more in-depth, as it contains news stories and blog posts, but as we’ve seen in other cases, Twitter is the place where news breaks these days.

 

Are Facebook Users More Optimistic than Twitter Users?

New Year’s Eve gives us a sense of closure on the past and an opportunity to make new dreams. With the emergence of social media, we can now see these reflections and resolutions transpire in realtime. As we observed the posts, comments, and tweets related to the New Year, we saw the typical expressions on Facebook and Twitter of best wishes for the coming year and pithy observations about the past year. What we didn’t expect was that users of the two popular social media sites would have different outlooks on the world.

As we enter 2012, Facebook users are more optimistic than Twitter users.

You’re probably wondering how we can say that. Well, we looked at all of the public posts on Facebook and Tweets on Twitter that contained “Happy New Year.” For all of those posts and Tweets, we compared the use of positive words such as “better” and “good” to the use of negative words such as “worse” and “bad.” We found that Tweets with positive words appeared 8 times more frequently than Tweets with negative words. You might be thinking a ratio of 8 to 1 is pretty optimistic…

It may be, but posts on Facebook had a ratio of 40 to 1–such a huge difference lead us to speculate that Facebook is a more optimistic place than Twitter.

Interesting stuff. Could be a variety of reasons for the difference, from the mix of users on each service to the fact that Facebook is used to communicate with friends, while Twitter is user to broadcast to followers. We’ll leave the speculation up to you.

Who Knew First: Steve Jobs or Aron Pinson?

While Steve Jobs’ resignation yesterday had investors anxiously watching how $AAPL fared in trading, we at Gnip were having fun watching a different ticker- the realtime Twitter feed.

As you can see from the graph below (these represent the number of “Steve Jobs” mentions per minute*), Twitter showed an incredible spike almost immediately. Apple-specific activity peaked 11 minutes after the news broke, showing how quickly the word spread. Honors for first tweet go to @AronPinson, who must have some blazing fast typing skills.

Once again, it’s incredible to see how social media is quickly becoming a trusted means of accessing and delivering realtime information.

*For more details on how we conducted this search across the millions of real-time tweets we have access to, contact us!

Incredible Innovation in Boulder Valley – Results from the IQ Awards

One of the reasons that we at love working in the Boulder Valley is because of the incredible and talented companies that make up the local business ecosystem. Given the depth and quality of innovative organizations that make Boulder their home, we’re extremely excited and very honored to announce today that we’ve won the Boulder County Business Report (BCBR) Innovative Quotient (IQ) Award for Social Media/Mobile Applications.

Presented by the BCBR, the IQ Awards is an annual event that honors the most innovative new products and services developed by companies and organizations, with a special emphasis on advanced technologies, innovations within a particular business sector and sustainable business practices.

Congratulations to all of last nights winners, with a big shout out to our fellow Foundry family member Standing Cloud who won the award in the Internet/Web category. Below is a list of companies that were recognized and their respective categories:

     

  • Green/Sustainability: OPX Biotechnologies Inc.
  • Social Media/Mobile Applications: Gnip Inc.
  • Nonprofits: Safehouse Progressive Alliance for Nonviolence
  • Software: Accurence Inc.
  • Natural Products: Cooper Tea Co. and Third Street Chai
  • Sports & Outdoors: Crescent Moon Snowshoes
  • Consumer Products & Services: Agloves
  • Internet/Web: Standing Cloud Inc.
  • Innovation Accelerator: Boulder Innovation Center and Longmont Entrepreneurial Network
  • Business Products & Services: Radish Systems LLC



Thank you to the Boulder County Business Report for recognizing the amazing innovation that exists in our community and congrats again to all of our fellow winners! Keep the innovation flowing, Boulder.

For more info, check out our press release.

 

Can Social Media Data Offset Market Volatility?

It’s been a volatile time for the markets the last few weeks. Today especially – the Dow closed down 635 points; S&P, -80; NASDAQ, -175. While there’s no shortage of opinions on how/why the market will/will not recover, one thing is for certain – having the right data to make decisions is more important than ever.

Part of the reason for this is that the markets are clamoring for trends – definitive information on stock trends and market sentiment. Which is why it’s exciting to see how our finance clients are using the Gnip realtime social media data feeds. In a time of increased volatility, our hedge fund (and other buy-side) clients are leveraging social media data as a new source of analysis and trend identification. With an ever-growing number of users, and Tweets, per day, Twitter is exploding, and market-leading funds are looking at the data we provide as a way to more accurately tap into the voice of the market. They’re looking at overall trend data from millions of Tweets to predict the sentiment of consumers as well as researching specific securities based on what’s being said about them online.

While the early-adopters of this data have been funds, this type of analysis is available to individuals as well. Check out some start-ups doing incredible things at the intersection of finance and social media:

  • Centigage provides analytics and intelligence designed to enable financial market participants to use social media in their investment decision-making process
  • SNTMNT offers an online tool that gives daily insights into online consumer sentiment surrounding 25 AEX funds and the index itself

For the first time in history, access to (literally) millions of voices is at our fingertips. As the market continues its volatility, those voices gain resonance as a source of pertinent information.

Customer Spotlight – MutualMind

 
Like many startups seeking to enter and capitalize on the rising social media marketplace, timing is everything. MutualMind was no exception: getting their enterprise social media management product to market in a timely manner was crucial to the success of their business. MutualMind provides an enterprise social media intelligence and management system that monitors, analyzes, and promotes brands on social networks and helps increase social media ROI. The platform enables customers to listen to discussion on the social web, gauge sentiment, track competitors, identify and engage with influencers, and use resulting insights to improve their overall brand strategy.

“Through their social media API, Gnip helped us push our product to market six months ahead of schedule, enabling us to capitalize on the social media intelligence space. This allowed MutualMind to focus on the core value it adds by providing advanced analytics, seamless engagement, and enterprise-grade social management capabilities.”

- Babar Bhatti
CEO, MutualMind

By selecting Gnip as their data delivery partner, MutualMind was able to get their product to market six months ahead of schedule. Today, MutualMind processes tens of millions of data activities per month using multiple sources from Gnip including premium Twitter data, YouTube, Flickr, and more.
 
Get the full detail, read the success story here.

Financial Markets in the Age of Social Media

When you think about it, the stock market is a pretty inspiring thing.

Over the past several centuries, humans have actually created an infrastructure that lets people put their money where their mouth is; an infrastructure that provides a mechanism for daily valuation of companies, currencies and commodities. It’s just unbelievable how far we’ve come and reflecting on the innovation that’s led us here brings to light a common but powerful denominator: Information.

  • When traders began gathering under a buttonwood tree at the foot of Wall Street in the late 1800′s, it was because proximity allowed them to gossip about companies.
  • When Charles Dow began averaging “peaks and flows” of multiple stocks in 1883, his ‘index’ became a new type of data with which to make decisions.
  • In 1975, when the sheer volume of paper necessary for trades became unmanageable, the SEC changed rules to permit electronic trading, allowing for an entirely new infrastructure.
  • And in the 1980′s, when Michael Bloomberg and his partners began building machines (the now ubiquitous Bloomberg Terminals), they tapped into an ever-growing need for more data.

Those are just some examples of the history that is exciting for us @Gnip, because of the powerful signal the market is sending us about social media. Here are some of the more recent signals we’ve seen:

  • The Bank of England announcing they were using Google search results as a means of informing their “nowcasts” detailing the state of the economy.
  • Derwent Capital Markets launching the first social-media based hedge fund this year.
  • The dedication of an entire panel to Social Media Hedge Fund Strategies at the Battle of the Quants conference in London last week.
  • Weekly news articles that describe how traders are using social data as a trading indicator (here’s one as an example).
  • Incorporation of social data into the algorithms of established hedge funds.

In other words, the market is tapping into a new and unique source of information as a means of making trading decisions. And the reason social media data is so exciting is because it offers an unparalleled view into the emotions, opinions and choices of millions of users. A stream of data this size, with this depth and range, has never really existed before in a format this immediate and accessible. And that access is changing how our clients analyze the world and make trades.

We’ve been privileged to see these use cases as we continue to serve a growing number of financial clients. Most exciting to us, as we respond to the market’s outreach for our services, is understanding our pivotal place in this innovation. As the premier source of legal, reliable and realtime data feeds from more than 30 sources of social media- including our exclusive agreement with Twitter- we’re at the center of how firms are integrating this data as an input. And that’s incredible stuff.

Are you in the financial market looking for a social media data provider? Contact us today to learn more! You can reach us at 888.777.7405 or by email.

Gnip. The Story Behind the Name

Have you ever thought “Gnip”. . . well that is a strange name for a company, what does it mean? As one of the newest members of the Gnip team I found myself thinking that very same thing. And as I began telling my friends about this amazing new start-up that I was going to be working for in Boulder, Colorado they too began to inquire as to the meaning behind the name.

Gnip, pronounced (guh’nip), got its name from the very heart of what we do, realtime social media data collection and delivery. So let’s dive in to . . .

Data Collection 101

There are two general methods for data collection, pull technology and push technology. Pull technology is best described as a data transfer in which the request is initiated by the data consumer and responded to by the data publisher’s server. In contrast, push technology refers to the request being initiated by the data publisher’s server and sent to the data consumer.

So why does this matter . . .

Well most social media publishers use the pull method. This means that the data consumer’s system must constantly go out and “ping” the data publisher’s server asking, “do you have any new data now?” . . . “how about now?” . . . “and now?” And this can cause a few issues:

  1. Deduplication – If you ping the social media server one second and then ping it again a second later and there were no new results, you will receive the same results you got one second ago. This would then require deduplication of the data.
  2. Rate Limiting – every social media data publisher’s server out there sets different rate limits, a limit used to control the number of times you can ping a server in a given time frame. These rate limits are constantly changing and typically don’t get published. As such, if your server is set to ping the publisher’s server above the rate limit, it could potentially result in complete shut down of your data collection, leaving you to determine why the connection is broken (Is it the API . . . Is it the rate limit . . . What is the rate limit)?

So as you can see, pull technology can be a tricky beast.

Enter Gnip

Gnip sought to provide our customers with the option: to receive data in either the push model or the pull model, regardless of the native delivery from the data publisher’s server. In other words we wanted to reverse the “ping” process for our customers. Hence, we reversed the word “ping” to get the name Gnip. And there you have it, the story behind the name!

Gnip Client Libraries from Our Customers

Our customers rock. When they develop code to start using Gnip, they often share their libraries with us so that they might be useful to future Gnip customers as well. Although Gnip doesn’t currently officially support any client libraries for access to our social media API, we do like to highlight and bring attention to some of our customers who choose to share their work.

In particular, here are a few Gnip client libraries that happy customers have developed and shared with us. We’ll be posting them in our Power Track documentation and you can also find them linked here:

Java
by Zauber
https://github.com/zaubersoftware/gnip4j

Python
by General Sentiment
https://github.com/vkris/gnip-python/blob/master/streamingClient.py

If you’ve developed a library for access to Gnip data and you’d like to share it with us at Gnip and other Gnip customers, then drop us a note at info@gnip.com. We’d love to hear from you.