Datasift launches real-time social analytics service for the financial sector

Datasift launches real-time social analytics service for the financial sector

Technology and real-time data are becoming two hugely important areas for almost any industry, as worldwide communication continues to evolve, and the financial services space is one where access to details and information is crucial. San Francisco-based Datasift is aiming to be the company that brings a real-time social feed to the industry, and it has launched DataSift Financial to do that very job.

The new service brings pre-packaged historical data and channels new updates in real-time to allow those in the finance industry to analyse information relating to companies and stocks, to help gain further insight and information quickly.

DataSift Financial aggregates all Twitter mentions that include a stock symbol, and it applies analysis to said tweets, identifying them as being from news agencies, assigning positive and negative sentiment and pipping in comments from analysts.

Using the system, Datasift says finance workers, such as fund managers, can tune down the significant noise of Twitter’s platform and get nuggets of information and take ‘a real-time pulse’ on companies, stocks and industry-wide trends.

“Financial professionals consume massive amounts of data every day, looking for patterns to support their investment decisions,” said Rob Passarella, managing director of finance, DataSift. “Through DataSiftFinancial, we’re able to curate social feeds for company-based topics, news and links that allow finance professionals to uncover emerging patterns for both surveillance and alpha.”

DataSift is by no means the first mover in this space. Zecco, Schwab and Scottrade are among those building community-led financial aggregating services, while Twitter itself recently aped StockTwits by rolling out ‘Cashtags’.

Datasift’s direct competitors includes SNTMNT and E*TRADE.

Image credit: Bracketing Life

Read next: Chinese upstart Qihoo 360 won't fight Tencent on instant messaging, CEO promises

Pssst, hey you!

Do you want to get the sassiest daily tech newsletter every day, in your inbox, for FREE? Of course you do: sign up for Big Spam here.