TY - GEN
T1 - An automatic news analysis and opinion sharing system for exchange rate analysis
AU - Mao, Hongyu
AU - Wang, Keqin
AU - Ma, Rui
AU - Gao, Yifan
AU - Li, Yuanzhi
AU - Chen, Kun
AU - Xie, Dejun
AU - Zhu, Wei
AU - Wang, Ting
AU - Wang, Huaiqing
N1 - Publisher Copyright:
© 2014 IEEE.
PY - 2014/12/10
Y1 - 2014/12/10
N2 - In an increasingly competitive global market, exchange rate analysis becomes a key part of financial management for international companies. Although some previous studies have developed various forecasting techniques to predict exchange rate trends based on both numerical data and textual data, a deeper understanding of the underlying economic factors is critical for financial decision making purposes. Driven by the real business requirement, we propose an automatic news analysis and opinion sharing system for exchange rate prediction. The system is comprised of five components, including data collection, event classification, sentiment analysis, prediction, and opinion sharing. Breaking news and other data are gathered from broad web sources in a real time. These news and data are firstly classified into focal event types, an innovative sentiment analysis method is then used to predict their impacts on exchange rate. A built-in mechanism is provided for users to share their opinions. Finally, feedbacks and human judgment from decisions makers are allowed to improve the accuracy. The proposed system has been used in an international logistic company. A real-world case has been used to test and illustrate the effectiveness of the designed system. The paper concludes with a discussion of potential applications.
AB - In an increasingly competitive global market, exchange rate analysis becomes a key part of financial management for international companies. Although some previous studies have developed various forecasting techniques to predict exchange rate trends based on both numerical data and textual data, a deeper understanding of the underlying economic factors is critical for financial decision making purposes. Driven by the real business requirement, we propose an automatic news analysis and opinion sharing system for exchange rate prediction. The system is comprised of five components, including data collection, event classification, sentiment analysis, prediction, and opinion sharing. Breaking news and other data are gathered from broad web sources in a real time. These news and data are firstly classified into focal event types, an innovative sentiment analysis method is then used to predict their impacts on exchange rate. A built-in mechanism is provided for users to share their opinions. Finally, feedbacks and human judgment from decisions makers are allowed to improve the accuracy. The proposed system has been used in an international logistic company. A real-world case has been used to test and illustrate the effectiveness of the designed system. The paper concludes with a discussion of potential applications.
KW - Exchange rate
KW - forecasting
KW - news analysis
KW - sentiment analysis
UR - http://www.scopus.com/inward/record.url?scp=84920728344&partnerID=8YFLogxK
U2 - 10.1109/ICEBE.2014.59
DO - 10.1109/ICEBE.2014.59
M3 - Conference Proceeding
AN - SCOPUS:84920728344
T3 - Proceedings - 11th IEEE International Conference on E-Business Engineering, ICEBE 2014 - Including 10th Workshop on Service-Oriented Applications, Integration and Collaboration, SOAIC 2014 and 1st Workshop on E-Commerce Engineering, ECE 2014
SP - 303
EP - 307
BT - Proceedings - 11th IEEE International Conference on E-Business Engineering, ICEBE 2014 - Including 10th Workshop on Service-Oriented Applications, Integration and Collaboration, SOAIC 2014 and 1st Workshop on E-Commerce Engineering, ECE 2014
A2 - Li, Yinsheng
A2 - Fei, Xiang
A2 - Chao, Kuo-Ming
A2 - Chung, Jen-Yao
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 11th IEEE International Conference on E-Business Engineering, ICEBE 2014
Y2 - 5 November 2014 through 7 November 2014
ER -