I was at the University of Toronto this morning, courtesy of Greg Wilson to run through in more detail the demo I gave at DemoCamp several months back (link, link). In return I got a demo of BlogScope which is tracking an impressive 2.6 million blogs as of today. BlogScope does "text stream" analysis of blog posts, tracking what's popular, what's hot ("bursts"), and doing a form a faceted analysis ("correlation") -- what other words are popular in posts that have a certain word/phrase in them -- which is cleverly done since one would expect this to be a O(N²) algorithm.

We discussed structured data, geotags, tagging (all pretty key concepts in BlogMatrix) and so forth and how they could be used to extend BlogScope. There's a lot of potential for this application in "intranets", closed networks, if RSS/Atom had widespread adoption to export events and data with an organization.