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the Federal Reserve Bank of the United States, which in a Request for Proposals filed to companies that are Fed vendors, is requesting the creation of a "Social Listening Platform" whose function is to "gather data from various social media outlets and news sources." It will "monitor billions of conversations and generate text analytics based on predefined criteria." The Fed's desired product should be able to "determine the sentiment of a speaker or writer with respect to some topic or document"... "The solution must be able to gather data from the primary social media platforms – Facebook, Twitter, Blogs, Forums and YouTube. It should also be able to aggregate data from various media outlets such as: CNN, WSJ, Factiva etc." Most importantly, the "Listening Platform" should be able to "Handle crisis situations, Continuously monitor conversations, and Identify and reach out to key bloggers and influencers.
Sentiment Analysis And Social Media MonitoringSolution RFP
Request for Proposal (Event-6994)
Federal Reserve Bank of New York ("FRBNY") is extending to suppliers an invitation to participate in anSentiment Analysis And Social Media Monitoring Solution RFP bid process. The intent is to establish a fair and equitable partnership with a market leader who will who gather data from various social media outlets and news sources and provide applicable reporting to FRBNY. This Request for Proposal ("RFP") was created in an effort to support FRBNY's Social Media Listening Platforms initiative
Social media platforms are changing the way organizations are communicating to the public Conversations are happening all the time and everywhere.There is need for the Communications Group to be timely and proactively aware of the reactions and opinions expressed by the general public as it relates to the Federal Reserve and its actions on a variety of subjects
II. Social Listening Platforms
Social media listening platforms are solutions that gather data from various social media outlets and news sources.They monitor billions of conversations and generate text analytics based on predefined criteria. They can also determine the sentiment of a speaker or writer with respect to some topic or document.The information gathered can guide the organizations public relations group in assessing the effectiveness of communication strategies.Here are some of the services it can offer:
o Track reach and spread of your messages and press release so Handle crisis situations
o Continuously monitor conversations
o Identify and reach out to key bloggers and influencers
o Spot emerging trends, discussions themes and topics
III. Mandatory Minimum Solution Requirements
A. Geographic scope of social media sites
The solution must support content coming from different countries and geographical regions. It should also support multiple languages.
B. Content and Data Types
The solution must be able to gather data from the primary social media platforms –Facebook, Twitter, Blogs, Forums and YouTube. It should also be able to aggregate data from various media outlets such as: CNN, WSJ, Factiva etc.
C. Reports and Metrics
The solution must provide real-time monitoring of relevant conversations. It should provide sentiment analysis(positive, negative or neutral) around key conversational topics.It must be able to provide summaries or high level overviews of a specific set of topics. It should have a configurable dashboard that can easily be accessed by internal analysts or management. The dashboard must support customization by user or group access.The solution should provide an alerting mechanism that automatically sends out reports or notifications based a predefined trigger.
D. FRBNY Technology Integration
The solution must be able to integrate with existing FRBNY technologies such as: Google Search appliance, Lotus notes suite and web trends.It must have support for single sign on or windows integrated authentication.
E. Cost Structure
The solution should offer a flexible pricing structure that can support multiple user licensing. It should also have the option to base pricing on content volume and usage. _Supplier acknowledges an understanding of and agrees to comply with the above minimum solutions requirements
From which of the following social media outlets has the Proposed Solution successfully collected content? Check all that apply.
Associated Press Content
Google News Aggregated content
Subscription based news sources
Other News sources (CNN, WSJ).
Please explain the comments section.