Jolie O’Dell of VentureBeat reports that on Wednesday, “Gnip launched its Historical PowerTrack for Twitter, which will give developers the ability to search, find, analyze, and compare all the tweets ever written, even ones written before the developer in question started scraping Twitter. It’s the same level of access the Library of Congress got when it started archiving and storing all Twitter data, but this time, it’s commercially available. ‘There are a handful of companies that have collected some portion of Twitter data,’ said Gnip COO Chris Moody in a meeting with VentureBeat yesterday. ‘We were able to do it because we partnered with Twitter on it’.”

O’Dell continues, “The data will make it possible for anyone (anyone working with Gnip, that is) to parse a huge historical archive of tweets and look for patterns. Did tweets have a real correlation to the 2008 election results? How about the iPhone 3GS launch and first-week sales? Using that kind of information, analysts can better forecast expected results for current events. ‘Four and a half years ago, the company was founded on the idea that data would be insanely valuable, that people would do amazing shit with it,’ said Moody, ‘and we wanted to fuel all those applications.’ We asked Moody the billion-dollar question: What if there turns out to be no or very little correlation? What if tweets turn out to be just so much hot air, totally useless for predictive analysis?”

Read more here.

Image: Courtesy Gnip