Google has launched a new social media aggregator (of sorts) that seems destined to be a leader in social media tools.

Why launch Google Buzz?

Unlike competitor Yahoo! Buzz, which functions as a news feed, Google has developed a Gmail-embedded tool that aggregates media, information from friends, information regarding Gmail contacts and of course the ever-popular status update.

The reason for launching this Social Media tool, according to Bradley Horowitz, Google’s vice president for product management is essentially to focus on sharing experiences in real time. These two key themes were core philosophies behind Google Buzz. Not to mention the fact that Google had yet to dive into the Social aspect (I’m ignoring Gmail-chat).

So…It’s just a collective of MY social media?

Yes, essentially. Google Buzz allows you to integrate your email, Twitter, Picasa, Flickr, Google Reader, and photos all into the comfort of your Gmail account on your laptop, desktop or mobile phone.

Hey, not a bad idea. In fact, since Gmail represents the third largest email program for users worldwide, the fact that it is conveniently located in Gmail’s interface makes it easier to try and thus easier to adapt and use on a regular basis.

Any Noteworthy Features?

In the mobile interface, you can click “nearby” and see what people are saying - nearby. Good to use if you are at a conference or gathering involving a number of networkers. This can bring on a whole new meaning to “real-time”.

Conversation bubbles will appear on your Google Maps. They are geo-tagged buzz posts, which lets you see what people are saying nearby.

Opportunity for new business?

Currently, the social media landscape is riddled with different tools and programs, all with the same goal – reach the top of the mountain and stay there. Google has the brand recognition and market dominance to really make waves here, and I think they will accomplish a lot with this new feature.

This ‘streaming’ tool that Google has adapted, allows advertisers to focus on one space – conveniently owned and operated by Google. As opposed to spreading efforts across a variety of areas, the one-stop-shop aspect allows a more focused approach and targeted promotion. It remains to be seen how Google will manage the marketing side of things, but I am curious to find out how advertisers intend on integrating into this new tool.