The past couple of months have been pretty interesting around Dataminr. Below are some of the recent articles that have been published.
A startup is finding valuable information in the Twittersphere. Dataminr, a New York startup that analyses the 500m or so tweets sent out daily, goes from strength to strength. Founded in 2009 to scour the Twittersphere for important events and news not yet reported by the mainstream media, the firm now has dozens of customers in finance, the news business and the public sector. In January it and Twitter struck a deal to provide alerts to CNN. In April its tracking of tweets was part of a strategy by the authorities in Boston to avoid a repeat of last year’s terrorist attack at the city’s annual marathon…
Dataminr is one of a growing number of firms built on analysing data from Twitter, though most do not have its focus on real-time news alerts. “Dataminr’s technology is very advanced; every day there is another example of how far ahead they are,” says Vivian Schiller, a Twitter executive.
Read the article from The Economist
A startup in New York City called Dataminr is using Twitter to potentially save lives by detecting news faster through analysis of big data. The company has been the first to generate news alerts on a number of events that had the potential to save lives including tornadoes, explosions, forest fires and various shootings. In March, when a gas explosion destroyed a large section of a Harlem block in New York City, Dataminr verified the event had occurred within 200 seconds. It took major news stations over 20 minutes to get hold of the breaking story. In April it helped Boston authorities in a strategy of live-tweet tracking to avoid another attack on the city’s annual marathon.
Dataminr used its big data connections and created an algorithm that saves time by understanding the interrelationships in the everyday lives of Twitter’s users. “People are sensors out there and if you look at our archive over time there’s a flow and pattern for every story there has ever been,” said CEO Ted Bailey. There are over 500,000,000 million tweets a day and Dataminr has access to all of them. They take those tweets and then score, tag and classify them through a number of categories including user reputation, user interests, topic density, user influence and spam quotient, among others. Then that information is clustered together by even more factors such as location, momentum and the novelty of the information as well as the co-occurrences of information.
Read the article from Liberty Voice
Twitter has firmly established itself as the global 911 as well as a faster, more local CNN, a place to call for help and shout the news – a place where people flock when they need to know things fast…
The New York-based data analytics startup Dataminr offers an early example of this. With nearly $50 million in funding, the company sifts through tweets to identify newsworthy events. In March, when a gas explosion decimated a section of a Harlem city block, Dataminr confirmed the event had occurred within 200 seconds; it took local news stations 20 minutes to cover it. Because the startup excels at pattern recognition, it can quickly verify which information is accurate — and which, like the hacked Associated Press Twitter account that broadcasted two explosions in the White House, is a hoax.
Read the article from Fortune
At the intersection of big data and real-time information, Dataminr Chairman and CEO Ted Bailey told CNBC Friday that his start-up aims to make sense of the disparate Twitterverse to give finance clients a profitable edge…Using the recent siege on Iraq’s largest oil refinery by militants as an example, Bailey said: “We were able to detect that and alert our clients on Wall Street to that conflict and its potential disruption over six hours ahead any single other source they had access to.”
Read the article from CNBC
The crux of Dataminr’s contribution to crisis reporting, and what sets it apart from apps with similar filtering potential, is its contribution to verification. Identifying the source behind an event is imperative, given the enormous amount of tweets that could be sent about it and the countless examples of errors made in the past.
The app not only delivers information on the spot, but includes a thorough analysis based on a user’s preferences. Through its analytical module, Dataminr can determine the source behind an event, enabling journalists to “replay how that event broke to identify potential sources that were on the scene”, explains Dataminr’s Dan Bailey. Here, Dataminr can be particularly useful for the human aspect of the verification process.
Read the article from Emergency Journalism
When Boston officials decided to monitor Twitter during this year’s marathon, they didn’t scan the site’s 500 million daily posts for signs of trouble. Dataminr did that for them. The company’s software sorts through millions of tweets for clues about major events or emerging threats, flagging mentions of everything from fires to suspicious packages and sending real-time alerts to customers. Dataminr has been quietly working with public safety officials in Boston and three other cities with the aim of detecting potential criminal or terrorist activity bubbling up on Twitter before it happens.