By Tim Maytom
Twitter has struggled to transform itself into a sustainable advertising platform, plagued by poor click-through-rates, low revenues and brands turned off by bots and abandoned accounts. However, the wealth of data it accumulates in real-time may prove a solution to its struggling revenues.
Last year, Twitter accelerated its data strategy by acquiring social data firm Gnip, which had served as a data partner to the company for several years, for $134m (£87m), adding the Gnip employees to its existing data team to bring the unit up to around 110 employees, which will grow further in 2015.
With the help of Gnip, Twitter is able to licence its data to software providers like IBM, Saleforce and Oracle who are able to use big data analysis tools to provide brands with an overview of how they are perceive by consumers, and what they need to change to improve.
According to Business Insider, Twitter’s data licensing revenue was up 105 per cent year-on-year in Q4 2014, bringing in $45m. While this was only 9.5 per cent of Twitter’s total revenues over the period, there are indications that this figure is about to grow rapidly.
Among Twitter’s plans to better utilise its …read more
Source:: Mobile App News