Use Case Scenarios
The first use case is led by Ketchum Publico, a Vienna-based public relations agency that is part of the global Ketchum network. Within the industry, a notable shift towards finding new ways of utilizing data is rapidly occurring. From creating new insights for client pitches to improving content strategies or measuring the impact of a communications campaign more effectively – the potential of data-driven public relations is significant.
Work within EPOCH focuses on the use of semantic technologies and visual analytics to create value for clients. This allows analyzing online content effectively („Who is a thought leader on a given topic and can help me talk positively about my brand?“), tracking campaigns („How has the brand sentiment changed during and after a campaign?“) and comparing brand associations („What is associated with my brand versus my competitor’s brand?).
To demonstrate the platform’s potential, the opinion mining capabilities of EVOLVE were used to analyze the emotions surrounding the COVID-19 pandemic and the resulting restrictions in Austria between March and May 2020.
Purchase Price Forecasting
The second use case is led by KPMG Austria Vienna office as part of the global KPMG network. Asset-based consulting combines data as a key asset with the know-how of specific individuals to create value for customers. Within the first year of the project, external data sets from free and proprietary databases have been evaluated. In combination with the EPOCH event prediction, the extracted indicators will help forecasting purchase price fluctuations.
For this purpose, the international KPMG network provided references and purchase price forecasting scenarios. The KPMG Signals Repository, for example, represents a potential data source for the EPOCH project. Raw data is harvested from multiple databases and then transformed into “signals” for a variety of application domains such s retail site selection, market monitoring, demand shifts due to events like holiday season, or intelligent forecasting of revenues.
Data Acquisition Roadmap
For both use cases, the EPOCH project has activated a first dashboard release as of December 2019 – including tailored configurations to track selected use case topics. A dynamic data acquisition component will enrich the repository and complement the content acquired from news media sources with publications of Austrian companies to identify relevant events from the corporate sector as well – initially starting with a smaller sample of larger companies, with the aim to gradually expand this sample to unlock a critical mass of corporate publications as an evidence source for EPOCH’s predictive analytics.