IBM has released a new social media monitoring tool that allows you to gauge a view of customer opinions from several social media websites.

The software is called the SPSS Modeler and it uses natural language processing to analyse everything from product names and industry jargon to slang and emoticons.

Some businesses are already using the technology. According to Mashable, Navy Federal Credit Union, Rosetta Stone and Money Mailer are using it to understand how consumers feel about their brands, products and competitors.

IBM said, “Organisations can combine all of their structured data with textual information from documents, emails, call centre notes and social media sources.”