The party is ON! Join us at TNW Conference 2021 in Amsterdam for face-to-face business!

The heart of tech

This article was published on September 11, 2012

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

    Datasift launches real-time social analytics service for the financial sector
    Jon Russell
    Story by

    Jon Russell

    Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

    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