A True Social Business Index
December 14, 2011 § Leave a comment
December 14, 2011 Over the last couple of months Dachis Group has been busy launching the Social Business Index. Obviously many more months went into its conception and development, but essentially the Social Business Index aggregates terabytes of data about organizations and their brand’s social presence from a variety of social signals that can be picked up (i.e. employees on social networks, how the market is talking about a brand, how many brands have presence on social networks, etc). For a quick peek see below:
What is significant about this is that it covers more than 25,000 companies and more than 25,000 brands. That alone is incredibly impressive. More so is that the index is refreshed with new data every 15 minutes. It is built on Big Data technology, complex analytics, a custom scoring algorithm, and includes a tool kit for companies that are tracked to communicate internally about their social presence.
Dachis Group presented the tool this week to the public via Webniar to discuss its power as well as its purpose. In short, to gain insights, take action, and measure performance. Its true power will be in how Dachis Group uses its full capabilities with clients and on engagements, but the fact that it is semi open is a pretty gracious move by Dachis, in my opinion.
It will be interesting to see how the tool gets used and how it evolves over time. Thanks to Dachis Group for putting it out there and giving those evaluated an opportunity to get some value from it.
I am really curious to see if anyone has any other thoughts about this.