In a move to extract value from social media content, Dataminr introduced its new technology for using Twitters public Tweets to create actionable signals for enterprise clients.
DataMinr has developed a new category of Twitter-based signals, providing clients in finance and government with one of the earliest warning systems for breaking news and emerging events. According to the company, clients receive signals in real time, often in advance of mainstream news, alerting them to industry relevant information and noteworthy events.
“Twitter has fostered an entirely new form of real-time digital expression, which has created a truly global sensor network,” commented Ted Bailey, founder and CEO of Dataminr, in today’s release. “On any given day, Dataminr alerts its clients to numerous relevant events that are either pre-news or off the mainstream radar. In recent days, our system surfaced emerging events including a natural disaster in Texas, government sanctions against a major international telecom, and an assassination attempt on Arab heads of state.”
Dataminr can also identify a number of distinct “micro trends” which can help clients predict what the world may soon be focused on. Examples of micro-trends include localized on-the-ground chatter, consumer product reactions, discussion shifts in niche online communities, and growth and decay patterns in public attention.
Dataminr’s real-time analytics engine processes public Tweets in the aggregate, detecting linguistic and propagation patterns across the over 340 million messages shared on Twitter daily, explained the company in its release. In addition, Dataminr merges Tweets with third-party and client proprietary data to perform multi-variable event detection. The product suite is designed to fit into the unique workflow of its client set and provides real time analytics that enable clients to make mission critical decisions with greater confidence, according to the company.
“At any given moment, there are millions of voices on Twitter telling us what’s happening in the world,” stated Satya Patel, Twitter VP of Product. Patel said Dataminr will apply its technical prowess to help enterprise clients identify events that are the most relevant to them.
Dataminr has just signed a partnership with Twitter, which includes access to the full Twitter firehose in real-time. “We are thrilled to have Twitter’s support with this partnership and we are excited to unlock new value in this incredibly rich data set,” stated Bailey.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio