Thomson Reuters expands its tools for the analysis of digital currencies. They will learn the details associated with a hundred different coins.
In March, Thomson Reuters in conjunction with another research firm MarketPsych Data LLC, which is also engaged in behavioral Finance, has launched a new tool for data analysis Thomson Reuters Cryptocurrency Sentiment MarketPsych Indices (TRMI 3.1).
Tool real-time monitors information from 2000 news sites and 800 social networks. With his help, the company created a data feed for bitcoin. It can even “measure the immeasurable” — for example, the degree of “excitement” and “expectations” of users. This tool uses natural language processing and machine learning. The algorithm is trained to recognize in the context of the phrase or word associated with the cryptocurrency topic. So the abbreviation “BTC” on Reddit probably means bitcoin, although on another site it could indicate a technical College. The data thus show the nature of the market and help you understand what to invest.
“Adding your data feed on cryptocurrency, reflecting the attitude of users towards them, in a solutions package for assets allows our clients to learn invaluable information that will help them make strategic decisions about investing funds,” said Pradeep Menon (Pradeep Menon), head of global investment & Advisory at Thomson Reuters.
TRMI 3.1 also includes a number of tools from MarketPsych, based on the principles of behavioral Economics. They help to identify major themes and faster to create actionable strategy. As explained by the head MarketPsyche Richard Peterson (Richard Peterson), trends in conversations about cryptocurrency can be interpreted as leading or secondary investment indicators. For example, such sentiments as “hope” and “anxiety” can affect someone’s decision to invest somewhere or not.
It is reported that the package TRMI has been expanded in the framework of the General policy of attraction of artificial intelligence techniques to the development of software for investment analysis. All information about cryptocurrencies, because of their nature, mostly generated online, and therefore data about the mood of the user may well reflect where the market is moving digital currencies in General.
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