The role of unstructured data is starting to gain presence within the world of analytics in general. Consequently, areas outside of business intelligence such as text analytics and the development of predictive models are also starting to consider the role of unstructured data in enabling broader decision making. With the expansion of data across the Internet and within organizations, the ability to identify varied information sources, to collect the right information, and to make informed decisions remains key for organizations or individuals evaluating how to improve their business performance.
One example of this form of expansion is the June 9th FirstRain® announcement of their release of two qualitative analytics packages, FirstRain Blog Monitor and FirstRain Capital Markets Monitor. These packages track web results and collects unstructured data from a variety of sources to identify trends within the market to enable better decision making for investors.
The realm of investing provides a good look at the benefits of using unstructured data within specific markets. Because investors and portfolio managers are required to make real-time decisions and also have an up-to-date understanding of what is happening within the market, it becomes essential to bring data from multiple sources together. In addition, most of this data is unstructured, making an application that focuses mainly on disparate unstructured data sources essential for accurate predictions.
FirstRain is a search, extraction and pattern detection technology for the web within the investment sector. The company helps portfolio managers, analysts and management teams uncover the information required to identify trends and extract the most relevant information from the web, including subscription sites, blogs, news outlets, etc., to enable better investments and decision-making. Some features of their new products are the following:
- FirstRain Blog Monitor is designed to identify relevant market commentary by pooling web results from influential bloggers, industry commentary, and companies being discussed. The goal is to help investors, CFOs, and CMOs gain a broader understanding of the market and generate more investment ideas. The initial product covers investments, technology, healthcare, and energy.
- FirstRain Capital Markets Monitor provides analysis, commentary and turnover trends from the Internet to enable up-to-date reporting on what is happening within the market. Some features and functionality include analysis of web results for most actively daily traded stocks, monitoring of most heavily shorted stocks, as well as hedge fund information.
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