Trend Spotting (and Funding) with Dataminr
As if you needed it, here's a little more evidence that social media remains of great interest to the venture capital crowd these days (as it should be with the Web technology worker, too): social media analytics company Dataminr has secured $13 million to grow its client roster and drive further technology innovation in the Twitter-powered "sensor" network.
Dataminr provides an "earling warning" system of sorts that has been used primarily in the financial (big banks, hedge funds, wall street, et al) and government sectors to identify market-relevant information, noteworthy events, and emerging trends. Being able to mashup their own data set with raw data from Twitter proves incredibly valuble to these companies as their own viability is so closely connected to market demand and interest.
Dataminr is one of only a few social media analytics providers today that has full "firehose" access to Twitter, which affords the company the ability to analyze upwards of 400 million tweets per day in order to identify any activity hotspots. As Twitter tightens its control over its developer API, expect the likes of Dataminr and others to take center stage.