IBM has released a new business analytics tool, SPSS Modeler.
The SPSS Modeler text mining and analytics software aims to provide sophisticated business analysis and the optimised collection of feedback.
A major aspect of the new tool is an 'emoticon scanning' feature to allow businesses to derive customer data from the emoticons used by consumers when discussing products on social networks.
Erick Brethenoux, predictive analytics strategist at IBM, said: “Emoticons are now part of what people write, and they are very important because they convey emotions that text, by itself, does not convey.”
IBM believes that it is important to consider the colloquialisms and IM symbols used by the younger generation in its market analysis tools because of the importance of the young as consumers today.