Wize Commerce Announces New Social Analytics System
SAN MATEO, Calif., Dec. 3, 2012 /PRNewswire/ — Today, Wize Commerce(TM) (www.wizecommerce.com), a global leader in online monetization and traffic acquisition technology, announced the launch of its proprietary Social Analytics System, a new tool that measures customer interest in products based on consumer discussions on social media platforms like Twitter and Facebook, product views, and actual purchases. As the owner of leading comparison shopping site Nextag and the provider of a wide array of services and products to businesses, Wize Commerce developed this system to benefit shoppers by enhancing the consumer shopping experience, and merchants, by increasing their monetization.
“This is only the beginning,” said Jeff Katz, CEO of Wize Commerce. “We have a significant head start in translating product data into better experiences for consumers and increased monetization for businesses. We are excited about the limitless possibilities our new system has to help merchants acquire and retain customers.”
At the heart of the Wize Commerce Social Analytics System is the “Buzz Score”, which rates a product on its “buzzworthiness” across a number of dimensions. The main components of the “Buzz Score” are the social score, the want score and the need score, representing the different phases of consumer engagement with a product.
- The social score measures consumer interest based on how many consumers are discussing and sharing the product on Twitter, Facebook and Wize Commerce’s own shopping sites Nextag and Thingbuzz.
- The want score measures purchase intent based on metrics, such as the number of shoppers visiting the product information pages on Nextag .
- The need score measures actual consumer demand based on sales data such as Nextag purchase rate and Amazon sales rank.
During this holiday season, Wize Commerce is relying on its newly developed system to track the most “buzzworthy” products. According to the Wize Commerce Social Analytics System, the products with the highest Buzz Score from this holiday season include tech toys such as Samsung Galaxy, Nikon D5100 Digital SLR and Nabi 2 tablet for kids.
About Wize Commerce
Wize Commerce(TM) (formerly Nextag, Inc.) is a global leader in online monetization and traffic acquisition technology. For over a decade we have been helping clients drive more revenue into their online and offline businesses using optimization technologies that operate on a massive scale. Wize Commerce owns and operates Nextag, guenstiger.de, and FanSnap as part of a global shopping network all of which utilize our integrated Monetization and Traffic Acquisition suites. Wize Commerce currently drives over $1.4 billion in worldwide sales through its online shopping network and partner sites. Wize Commerce is headquartered in San Mateo, CA, with offices in Chicago, Tokyo, Hamburg, Drogheda, Ireland and Gurgaon, India.
For more information please visit www.wizecommerce.com.
SOURCE Wize Commerce