By Tim Maytom
Twitter has terminated its existing agreements with third-party companies reselling its ‘firehose’ data, the complete, unfiltered stream of tweets and metadata, in an effort to grow its own in-house big data business.
The social network has been looking to increase its revenues from areas outside advertising, and in 2014 acquired data analytics company Gnip, which now largely serves as its big data team, providing data companies, brands and other firms with Twitter figures that can be used to measure metrics like consumer sentiment and market trends.
With the help of Gnip’s expertise, Twitter is already licencing its data to firms such as IBM, Saleforce and Oracle, and its revenue from data sales had increased 105 per cent year-on-year in Q4 2014.
“One of the reasons Twitter acquired Gnip was because Twitter believes the best way to support the distribution of Twitter data is to have direct data relationships with its data customers – the companies building analytic solutions using Twitter’s data and platform,” said Zach Hofer-Shall, head of Twitter Ecosystem.
“Direct relationships help Twitter develop a deeper understanding of customer needs, get direct feedback for the product roadmap, and work more closely with data customers to enable the best possible …read more
Source:: Mobile App News