Ross Hoffman of Twitter’s Business Development team has recently announced plans to release a free analytics dashboard in the last quarter of 2010. The dashboard will have full functionality for those looking to see how their network functions in terms of retweets and the overall effectiveness of their communications. Tools for analyzing individual users, networks and influence will be included.
Although the service was announced at a summit for sports management, it is sure to be of use to all sorts of businesses seeking to interact through twitter. Now analytics will be available past abstract measures of success beyond followers and number of retweets.
The decision is an interesting one on twitter’s part. The company, which has had trouble with coming up with monetization as part of its business plan, is currently planning to offer the new analytic functions for free. The question is, will it stay this way? It wouldn’t be surprising to see Twitter rolling out another version of the analytic software with improved functionality a few months down the line, or starting to charge for the current analytics package (although this would likely cause a loss in good will that would be dangerous for a social network company)
Photo courtesy of Keven Lin