Global-Spin News

Spin-off to Help Stock Traders Make Faster, Smarter Decisions

Spin-off to Help Stock Traders Make Faster, Smarter Decisions
Tuesday, 21 November 2017

The spin-off from the University of Glasgow, Scoop Analytics, applies artificial intelligence to Twitter for breaking news, etc. with the intention of giving stock traders the information necessary to make intelligent choices [1]. The company’s website promotes the idea that they allow traders to know breaking news, before it breaks. This permits traders to trade accordingly before others are aware of the situation. [2]

For traders, the difference of knowing the news just a few minutes before it makes it to the actual news feeds can be essential to getting ahead [1]. By filtering breaking news stories from the ‘noise’ that social media streams produce, Scoop Analytics is able to give traders those few minutes, or sometimes even more, before the news airs on TV or other mainstream places [3].

The technology is able to analyse the “text within a tweet,” not just the amount of retweets, making it more effective when it comes to identifying relevant information that other, rival, technologies also analysing Twitter [1]. The analysis is based on award winning PhD research from the Glasgow University in 2015, developed by James McMinn [4]. By refining the algorithm used to fit their needs, Scoop is now able to pick up almost all news before it hits the mainstream [3].

[1] http://www.scotsman.com/business/companies/tech/glasgow-spin-out-aims-to-help-traders-scoop-the-market-1-4570159
[2] https://www.scoopmarkets.com
[3] https://startups.co.uk/scoop-analytics-dr-phil-mcparlane
[4] https://www.scoopmarkets.com/company