30 November 2015

Fed to monitor social media chatter

29 September 2011  |  8768 views  |  0 anonymous figure in front of stock exchange

The Federal Reserve Bank of New York is inviting firms to bid for the chance to build a system to monitor what people say about it on social media sites.

In a request for proposal (RFP) document first picked up by ZeroHedge, the bank asks vendors to come up with a "sentiment analysis and social media monitoring solution".

The FRBNY wants to "establish a fair and equitable partnership with a market leader who will who (sic) gather data from various social media outlets and news sources and provide applicable reporting" as part of the organisation's "social media listening platforms initiative".

The RFP says the system needs to be able to gather data from major social media platforms - Facebook, Twitter, blogs, forums and YouTube - and aggregate information from media outlets such as CNN and the Wall Street Journal.

The technology must be capable of real-time monitoring of relevant conversations and providing sentiment analysis for key conversational topics. It also needs to integrate with existing FRBNY technologies such as Google Search appliance, Lotus notes suite and web trends.

Any sentiment analysis carried out on reaction to the plans would provide an unambiguous result, with blog ZeroHedge managing to invoke Big Brother and Watergate in its headline alone.

Read the full document, posted by public intelligence, here.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

08 September, 2011
24 August, 2011
18 July, 2011
08 June, 2011
07 April, 2011
07 February, 2011

Who is commenting?

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
8191 views comments | 34 tweets | 42 linkedin
Former Barclays chief forecasts massive jo...
7440 views comments | 30 tweets | 36 linkedin
EPC publishes proposals for pan-European i...
7420 views comments | 34 tweets | 32 linkedin
WeChat launches mobile wallet in South Afr...
6432 views comments | 20 tweets | 16 linkedin
BBVA Bancomer first to roll out dynamic CV...
6061 views comments | 14 tweets | 21 linkedin

Featured job

Competitive base, double OTE
London, UK

Find your next job