TipRanks, a financial accountability service that rates the performance of various market analysts and ranks them, was awarded first place in the IBM Watson Hackathon last week for developing a Watson based application called StockRadar.
The IBM Watson Hackathon, which took place on June 10-11 attracted dozens of software development teams from across the country to compete in creating cognitive applications and applying them to modern world problems, according to a press release from TipRanks.
The TipRanks team developed a service called StockRadar; an application that shows which stocks have the most positive or negative sentiment, driven by financial news and social media.
As part of the contest, the service scanned and analyzed over 80,000 news articles and 30,000 tweets to determine the best and worst trending stocks in terms of social and news sentiment.
“We found Watson to provide a very powerful set of tools that can complement our current offering,” noted TipRanks Chief Technology Officer Gilad Gat in a press release.
TipRanks was featured in the July Modern Trader magazine cover story “False Prohpets,” as one of a handful of entrepreneurial firms using social curation to provide more accurate market outlooks.
Also, TipRanks’ co-founder Uri Gruenbaum highlighted Ronnie Moas, TipRanks’ highest rated analyst since 2014 over a one-month horizon in “Prescient Prophets.”
TipRanks was founded in 2012 Gruenbaum and Gat. It provides a data-driven measure of accuracy for published financial advice. The proprietary technology is based on Natural Language Processing (NLP) and Machine Learning algorithms that constantly track, rank, and measure financial experts based on their stock ratings, calls, and predictions.