Wednesday, January 16, 2013

Sentiment Analysis and Predicting Trends

As marketers we spend considerable time looking at analytics.
Much of the analytics has to do with prior performance. We look at what has happened, determined why we think it happened that way then we adjust accordingly.
In a real-time sense we look at analytics and we hope to learn what is happening “on-the-fly” and adjust accordingly.
So what else is there? Well, there’s always predicting the future. Yeah, that’s right. Predictive analytics are getting attention. I suspect that we are in the heavy hype phase where it sounds cool but will the delivery match the anticipation? We have enough of an Internet industry track record to know that hype often outpaces reality by a sizable margin (how many “This is REALLY the year of mobile!” claims were made starting in about 2000?).
One of the companies leading the charge into this brave new world is IBM which has released a study predicting a new fashion trend that should be hitting sometime in the future. If you are into that kind of thing it is called “steampunk” fashion. The infographic below shows some of the data that has been used to make this ‘prediction’ of what will possibly have some retail momentum in the near future.

ibm-steampunk Full

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