For example, with enough data, a company could predict with 90 percent certainty where a user will be at a specific time in the future.

The buzz at this year’s South by Southwest (SXSW) interactive conference and festival, the conference for emerging technology, was all about location-based services, which are relatively new applications in the social media space.

Social media would seem to go hand-in-hand with innovators. Services such as Facebook and Twitter can drive traffic, jump start marketing efforts, build name recognition…but does the hype outpace the reality?

Entrepreneurs and social media — a match made in Heaven, right? Absolutely right.