The Fayetteville firm collects online conversations about brands and prioritizes them using its proprietary algorithm. TTAGG, Inc., will remain as the corporate entity.
"We decided to change our name and website to DataRank because we felt like it better explained our core vision," said CEO Ryan Frazier. "To make data valuable, you have to organize it and remove irrelevant data from each dataset. Excitingly, the amount of data created online every day is expected to grow 44 times over the next six years, which will make organizing and ranking the data that much more important. And that's what DataRank does better than anyone."
DataRank's Consumer Insights blog, Frazier said, will try to answer pertinent questions such as, who will win the next election, will a product succeed or fail, which product should I buy, which product category will be the next cake pops or greek yogurt?
Plus, it'll try to ask questions that no one in social media believes they have the data to answer, such as, will consumer demand rise or fall, will a merger create overlap or gains for consumers? Frazier said DataRank will put "big data" to work to fund useful answers.
"Leveraging the power of the Internet vested in the over 12,000 Facebook posts every second, 100,000 tweets every minute and $16.3 million dollars spent online every hour, we will be sifting through the noise to find unique insights regarding current events, politics, economics, consumer reviews and business," Frazier said.