Tracking Twitter is probably the hottest new analytics topic out there.
Since everybody is using Twitter, it's time to have a look at it. Omniture's Sitecatalyst came up with an interesting way to figure out
1. How often your brand is mentioned on Twitter
2. At what time your brand-related terms spike (week/day/hour)
3. Who are the people using your brand and who are the people they are connecting
The way it works is pretty simple: Site Catalyst's Data Insertion API opens up to non-web related traffic such as Twitter. Both APIs talking to each other make it possible to pull this data.
Pretty cool stuff, especially that this can be used to handle all kinds of PR efforts. Once more Omniture proofs that they are ahead of the curve.