Seven years ago, we launched DataSift with a vision to become a unified platform to access and analyse the world’s human data – spanning billions of posts and conversations across social, news, and blogs. Over that time, we’ve helped pioneer and build the industry and ecosystem of companies that leverage this ‘Outside Data’ to drive decisions across every industry and use-case.
Along the way we’ve done some pretty amazing and bold things.
We invented the Retweet button (which we later traded-in for a Twitter firehose partnership to kick-start our data platform business), added a broad collection of the world’s biggest social, news, and blog publishers, and – working in partnership with Facebook and LinkedIn – created an entirely new analytical model built on the principle of ‘privacy by design’ to provide insights while protecting user privacy; something that is becoming increasingly important in the era of the European Union’s General Data Protection Regulation (GDPR).
Solving this also meant building a platform that could operate at an incredible scale, processing around 25 billion data items daily across multiple networks.
Now, we’re starting the next chapter. We’ve been acquired by Meltwater to join forces in advancing their vision for building an AI-powered analytics platform and industry. We’re joining an incredible bench of talent and tech within Meltwater, as the analysis from CBInsights shows below. Meltwater has a huge, hungry ambition that we’re excited to be part of.
The Next Chapter: Outside Insight
So, what are we going to be working on? For starters, it’s business as usual for all of our customers. We are here to support and serve you as always. No change.
As for what’s next, here’s a short summary; for the longer version, Jorn Lyseggen (Meltwater’s CEO) literally wrote the book on this.
Executives rely on Business Intelligence to drive their business decisions. The majority of decisions are based on internal data – web traffic, sales pipeline, revenue trends, customer churn, or product inventory. Why? Because it’s all there is available. By definition, it’s historical data, giving you insights into events that have already happened. As a result, companies are making big bets and decisions lagging data and indicators.
Outside of your business, there’s a wealth of data that lives on the internet that can help companies make better decisions. The challenge is, this data is not neatly organized in rows and columns ready for analysis. Insights, intents, and signals are buried in news articles, blog posts, analyst reports, social media posts, patent filings, review sites, job sites, or millions of other data sources which can act as leading indicators on where your customers, competitors, or industry is heading.
We’re focused on leveraging ‘Outside Data’ to create ‘Outside Insight’. Our ambition is to build an industry and ecosystem that eclipses the efforts of the Business Intelligence industry to provide actionable insights to drive business decisions and outcomes.
Achieving this this is a marathon, not a sprint. Up to now, much of the industry that works with this kind of data has been limited to providing metrics that measure the volume and sentiment of customer engagement around a topic such as your brand or #campaign.
With the rapid acceleration of the AI industry, the ability to solve this problem at scale is now within reach. By combining DataSift’s platform, technology, and ecosystem building expertise with Meltwater’s AI tech and talent, we’re focused on delivering a step-change in how companies can make bigger, better decisions by analyzing data from the world–not just within their own business.
Importantly, we want to leverage our technology and expertise to embed “Privacy-by-Design” to enable data scientists, developers, and businesses to innovate with next-generation insights, without compromising consumer privacy or trust.
We’re excited for this next chapter. Later this year, we’ll announce a new platform to select developers and data scientists to start the journey. If you are interested in big missions and want to leverage Outside Insight in your business, I’d love to hear from you.