Companies performing automatic text analysis can gain insights from blogs and message boards, but can't understand neologisms that don’t appear in semantic lexicons.
According to NewScientistTech, a program called Zeitgeist could help when the going gets colloquial. To understand a new word like, say, "megamercial" or "hypertasker," it searches Wikipedia and can make guesses about intention when a good enough definition cannot be determined.
It's no cordless extension cord, but pretty cool all the same.