Dataminr is a revolutionary data aggregation and dissemination service which has built a global sensor network powered by Twitter. Its real-time engine tracking can act as an early warning system for both enterprise and government customers. Dataminr can absorb and merge third-party information or a client’s proprietary data to add context and harvest insights geared specifically towards the client’s interests, which then can be bolstered by their own data.
Dataminr works with global corporations on security issues, with major news organizations around the world, and with leading government institutions on matters of local, state and national security.
Dataminr is at the forefront of the big data movement, focused on unlocking value from real-time Twitter data and uncovering market insights in a way that was never possible before.
Ted Bailey is Dataminr’s CEO. A graduate of Yale, he was previously with Massify.com and The Advertising Council.
Dataminr combs through over 500 million daily “tweets” on Twitter. Its algorithms quickly seize abnormal and actionable signals that can be analyzed and confirmed as a relevant event for a client. For example, Dataminr reported to its clients that Osama bin Laden had been killed 23 minutes before any mainstream news outlet reported it. Dataminr was able to discover and verify this information based on only 19 tweets, allowing clients to respond before there were any movements in S&P futures correlated with his death. Dataminr’s relationship with Twitter has resulted in it being granted complete access to Twitter’s “firehose”—the entirety of all of its tweets. This is focussed into four industry specific products, News, Finance, Public Sector, and Corporate Security, in which the analysis is focussed for the specific industry.
Dataminr’s potential is virtually limitless as it redefines what “breaking news” means. We believe that Dataminr has enormous potential in the finance industry with applications to both hedge funds and investment banks, where the Beta version of Dataminr is currently being tested. Government agencies have also already begun to subscribe. We also see enormous opportunities surrounding “real-time” constituent polling for elections. Collectively, these industries will be forced to subscribe to Dataminr in a form of the “prisoners dilemma,” in order to remain competitive.
We believe the potential for Dataminr is almost “limitless” because of the many applications suggested by its technology gathering capabilities. Dataminr provides an unmatched, highly accurate service at a reasonable price.
Dataminr will continue to rapidly build its customer base, particularly expanding upon the number of governmental, political and financial clients. Data will only become more valuable in the future, making Dataminr a potentially groundbreaking firm.
Dataminr is currently reliant on Twitter’s so-called firehose, making that relationship’s stability critical to Dataminr’s success.
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