Davtchev spoke more specifically about what Yahoo considers real-time spam: content with “multiple buzzing terms,” overuse of URL-shortening services and overuse of hashtags.

Even though he focused more on the research side of things, Davtchev was the only panelist to get specific about where revenue specific to real-time search might come from. He said he anticipates that one of the most monetizable areas would be local promotions around events.

Davtchev also said to expect Yahoo to use what it learns from real-time relevance on non-search properties — which seems fitting, given Yahoo’s search share and also the fact that so many people use Yahoo as a portal to what’s new on the web.

How Google, Yahoo and Microsoft Think About Real-Time Search – GigaOM