‘Data mining’ firm monitors online activity of top groups

AN ONLINE intelligence firm is monitoring the internet activity of top companies in an effort to gain an inside track on their strategic planning.

Oxfordshire-based Cyance uses its systems to monitor how staff at companies are using social media, the internet searches they make and changes to their organisation’s own website.

The findings are analysed to alert companies to marketing opportunities, but could also be used to assess whether firms are planning takeovers or facing financial difficulty.

The firm is already using its system to monitor companies like RBS, Ernst & Young, Balfour Beatty, IBM and Oracle on behalf of clients.

It tracks internet searches by staff, websites viewed and social media posts, and uses the information to reveal the behaviour of staff.

The software stops short of identifying the online activity of specific individuals, but can determine if users are key decision makers.

While the use of such data mining is legal, its latest evolution is likely to be controversial and spark a fresh debate on privacy.

Chief executive Jon Clarke said: ‘This does not breach data protection laws because we cannot identify individuals.’

He described the service as ‘picking up on the breadcrumbs executives leave behind when they visit websites’.

When the system identifies a trend in behaviour that could be a sales opportunity Cyance passes this on to clients, which can then target the firm with a sales pitch, send information in the post, or buy online adverts that pop up on computers inside the firm.

Clarke says the system could also be used to ‘look at competitors, spot M&A activity or whether a business could be going bust.’