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A month or so ago I wrote about Twitter as a productivity tool for participants in the Hacking Education conference in New York – that was quite a loose example of how Twitter extended people’s reach into new conversations and extended the range of existing conversations, thereby making the communication process more efficient for all.
There is a report in the Telegraph today about hedge fund traders using technology from US company StreamBase to mine the Twitter stream for information that they can plug into their automated trading platforms.
For me this is a pretty clear example of Twitter being used as a tool to increase the productivity (or more accurately effectiveness) of trading systems.
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I would interpret this as an attempt to sort through more noise and access (and exploit) unstructured data and metadata, rather than an attempt to increase productivity; an attempt to increase effectiveness rather than efficiency.
As we find ways to clear out the noise of wasted tweets I believe Twitter is a very effective tool for getting information out to people
Check out SkyGrid (http://www.skygrid.com) which does this outside Twitter. Patrols the web in real time and feeds into trading platforms, hedge funds etc.
Thanks Iain
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