Krzana is the search engine of the future
- On October 28, 2016
- By Kate Arnold
Krzana aims to give users an edge over rival investors by sucking the rare, important signals that will move markets out of the vast and noisy din of financial news media.
Can you remember where you were on the morning of April 9, 2015? If you work for or own shares in Oil & Gas UK, you probably do. That was the day the company announced the discovery under Horse Hill near Gatwick Airport of the largest onshore recoverable oil reserves in the UK for 30 years.
The company had drilled exploratory wells a year earlier. The official confirmation of the discovery began to break on news wires shortly after 8am and was picked up by other broadcasters and major news sources, including the BBC, just before 9am. Shares that had closed the previous night at £1.09 ($1.33) started a rapid climb, doubling in price in morning trading and ending the day up at £4.29.
Oh, to have been a hedge fund or commodity trader that morning plugged into Krzana.
Krzana is a new kind of real-time search engine that sucks unstructured data out of thousands of sources – not just financial markets media such as Bloomberg and Reuters, but specialist trade journals, local papers, general news services, regulatory reports, RSS feeds and, perhaps most important of all, social media – and spots the rare pearls that will be valuable to its users amid all the dross.
Krzana is customizable, allowing hedge funds or investors focused on specific sectors or financial instruments to register areas of interest and suck in all news of relevance without combing through all the sources. It is like doing a Google search and instead of trawling back through historical stored data, throwing that search forward into the future and dragging up new findings almost as soon as they become available.
It so happens that investors focused on oil and energy markets were early adopters of Krzana. It delivered news of what was to come from Oil & Gas UK at 7.09am, before the stock had moved.
Someone, perhaps a site worker, had tweeted something: one of those messages intended for a handful of friends and followers – ‘You won’t believe what’s coming at Gatwick’ – that Krzana’s search and filtering algorithms plucked from the 2.5 quintillion bytes of data we now produce every day, spotted could be significant and sent to customers focused on the sector and the company.
Read the full article about Krzana in Euromoney here.
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