In order to sift true indicators from false ones, social media analytics company Contix algorithmically identifies actionable social media alerts from the entire universe of Twitter users, then confirms that the news has not broken first on traditional media, allowing users to easily identify the most differentiated and valuable alerts.
“Our idea was to develop a platform where we would ingest the entire ‘fire hose’ of social media content and then cluster that with traditional media content in order to identify the very earliest mentions of breaking news,” Ryan Bailey, co-founder and CEO of Contix, told Markets Media. “There are citizen journalists. There are reporters that break news on Twitter at the same time as their news organization. When we’ve identified a news alert that is actionable, valuable, and relevant to the financial markets, we send that via an alert to our users who can access that either via web app, desktop app, mobile app or e-mail.” Full Article
Contix is the leading social media event detection platform focused exclusively on the financial services industry. Contix delivers actionable alerts on market-moving news surfaced from social media sources. The company’s unique event categorization technology clusters related news from social and traditional sources to maximize breaking news coverage and place news in market context including price, trading volume, discussion volume and sentiment. Working with both institutional and retail traders, Contix helps discretionary equities traders act on breaking news events to generate alpha.
Binna Kim, Vested