Mining the Change of Events in Environmental Scanning for Decision Support

An organization’s environment is increasingly complex. Business demand on environmental scanning has significantly increased in recent years due to an attempt to assist management in planning an organization’s strategies and responses. The conventional technique for environmental scanning is event detection from text documents such as news stories. Event detection methods recognize events while they neglect to discover the changes of events. This work develops an event change detection (ECD) approach that combines association rule mining and change mining techniques. Detecting changes of events aids managers in making fast responses to the change of external environments. Association rule mining is employed to discover the subject behaviors of events from news stories. Changes of events are identified by comparing the subject behaviors of events from different time periods. The discovered event changes can provide effective decision support for decision makers to capture environmental information in a timely manner and make adequate decisions

A classification-based approach to economic event detection in Dutch news text

Breaking news on economic events such as stock splits or mergers and acquisitions has been shown to have a substantial impact on the financial markets. As it is important to be able to automatically identify events in news items accurately and in a timely manner, we present in this paper proof-of-concept experiments for a supervised machine learning approach to economic event detection in newswire text. For this purpose, we created a corpus of Dutch financial news articles in which 10 types of company-specific economic events were annotated. We trained classifiers using various lexical, syntactic and semantic features. We obtain good results based on a basic set of shallow features, thus showing that this method is a viable approach for economic event detection in news text

Can twitter replace newswire for breaking news?

Twitter is often considered to be a useful source of real-time news, potentially replacing newswire for this purpose. But is this true? In this paper, we examine the extent to which news reporting in newswire and Twitter overlap and whether Twitter often reports news faster than traditional newswire providers. In particular, we analyse 77 days worth of tweet and newswire articles with respect to both manually identified major news events and larger volumes of automatically identified news events. Our results indicate that Twitter reports the same events as newswire providers, in addition to a long tail of minor events ignored by mainstream media. However, contrary to popular belief, neither stream leads the other when dealing with major news events, indicating that the value that Twitter can bring in a news setting comes predominantly from increased event coverage, not timeliness of reporting

Economic event detection in company-specific news text

This paper presents a dataset and supervised classification approach for economic event detection in English news articles. Currently, the economic domain is lacking resources and methods for data-driven supervised event detection. The detection task is conceived as a sentence-level classification task for 10 different economic event types. Two different machine learning approaches were tested: a rich feature set Support Vector Machine (SVM) set-up and a word-vector-based long short-term memory recurrent neural network (RNN-LSTM) set-up. We show satisfactory results for most event types, with the linear kernel SVM outperforming the other experimental set-ups