The media and information firm, Thomas Reuters is now incorporating sentiment analysis from Twitter for Eikon. Eikon is Thomas Reuters’ market analysis and trading software. Twitter watches its content river to base much of the advertising scheme for revenue. Thomas Reuters will use a similar approach to build its reputation as a big data provider.
It is important to note that this is not a formal merger with Twitter. A spokesperson said that Thomas Reuters will be “combining a number of third-party and proprietary Twitter feeds for this service.”
Bloomberg tried a similar strategy last year by mining Twitter for Tweets about specific companies. Thomas Reuters moves that process forward by creating visualizations and charts about this kind of data and to allow companies to look more closely at data in regard to specific companies. They will use a cross-Twitter feed that will give them large caches of data from Tweets around the world.
Thomas Reuters has not identified the third parties at this time. Also, as of now, the proposed plan will only include Twitter, but may utilize sources like blogs in the future. Twitter has been a popular new venue for years, so it may be surprising that it took the financial world so long to get on board. Parts of the data that the new service will compile are StockTwits that include people using stock tags in global markets. As long as investors are aware, the SEC has formally acknowledged that companies can legitimately communicate new through Twitter.
There are other players who are looking to Twitter for big data. 300 Music will use it for music insights and Dataminr and CNN will work together to find breaking news in newsrooms around the world that CNN may not have picked up otherwise.
from Douglas MacFaddin’s Tech Market Page http://ift.tt/MYRAXG