Things just got very interesting – my grandfather has accepted social media.

Nielsen Buzzmetrics is forming a joint venture with the strategic consulting firm McKinsey to address the fourth element of media after print, radio and TV i.e. social. Essentially Buzzmetrics provides social media data and analytics i.e. consumer speak on brands, their strengths and weaknesses, audience behaviour and the like. They capture conversations and trends across blogs and community sites. Mc can then apply these insights to consulting at a more strategic level.  For them it is essentially another information aggregator to a source they were far from accessing currently.

All in all, that is certainly a huge boost to the fledging social media world.

A quote from the press release – ‘NM Incite will work with the expansive ecosystem of interactive, marketing and strategic communications firms and other technology and social media companies to implement client solutions, help shape future offerings and develop new metrics.’