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From the site: Truthy is a system to analyze and visualize the diffusion of information on Twitter. The Truthy system evaluates thousands of tweets an hour to identify new and emerging bursts of activity around memes of various flavors. The data and statistics provided by Truthy are designed to aid in the study of social epidemics: How do memes propagate through the Twittersphere? What causes a burst of popularity? Delete the scoop?
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This could be good for news teams involved in collaborative news gathering. I read about it online and will test it and report on my blog.