Black Swan analyses social media to predict success

• Social media analytics helps Black Swan forecast success.
• The software analyses billions of tweets.
• It helps companies understand consumer product preferences.

Black Swan is able to forecast which items will be successful by analyzing data from social media.

PepsiCo and Nabisco have escalating expenses. Inflation increases income and transportation costs. Finance innovation. Dangerous.

2011: Steve King co-founded an IT startup.  Swan maps “development prospects” using social media data.

Digital Jigsaw employed King before. Amos managed Pepsi’s online marketing.

King and Amos “got” Toronto. Beer mats inspired Black Swan (which is currently in the London HQ reception area). We thought brands could use data better.

Black Swan analyses data from Stanford, UCL, and Meta data in order to forecast social trends and sales. The software examines billions of tweets, forum threads, reviews, and blog articles over a period of two years and filters for 400,000 distinct ideas (for example, “Themes,” “Ingredients,” “Brands,” “Product types,” and “Benefits & needs”) in the data. One example of this is when people discuss nutritious after-school snacks for children.

King: “AI anticipates users’ futures.” Black Swan. Inaccurate traditional market research. It reduces customer behavior risk.

Risky product. More than 30,000 new products are a bust every year. 70–80 percent of all new food products are unsuccessful.

AI? Uncertain. AI firms Turing Labs, Black Crow AI agree. Today’s algorithm determines accuracy. When data changes, forecasts drift, giving false confidence.

Black Swan won’t replace wisdom. It helps organizations understand consumer interests and preferences for product categories.

The business believes that comments made online can both predict and influence future occurrences. Users are able to innovate and become more customer-focused as a result of this.

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