Selecting the Right News Aggregation Product
Friday, 11th October 2013
This article examines the changing marketplace of news aggregation products. It takes a top-level view of the types of news aggregation tools available and emphasises the importance of understanding your organisation's news requirements before negotiating vendor contracts.
Factiva and LexisNexis have been the market leaders in news aggregation services for the information professional although, as the early results of FreePint's News Needs and Preferences Survey demonstrate,recent changes at Factiva are causing many of those for whom Factiva is their preferred product to consider alternatives. (See FreePint comment here on the incorporation of Factiva into product DJX.)
Recent advances in technology, the advent of social media and changes to traditional sources of news aggregation services have opened up the marketplace. Products focused on legal or financial information, PR, communication or marketing activities, and those aimed at the news industry all provide a wealth of business news. In order to assess the right product(s) for your business there are several considerations that the information professional must take into account:
Understand the Marketplace
The marketplace for news aggregation products is vast. It is constantly changing and it is unlikely that any one solution will meet all your requirements. Traditional content background suppliers are being challenged by newer software products. These newer software products are expanding upon the number of news sources available to search.
Software-only solutions are being developed. Such solutions enable internal and external information to be analysed, published and shared on multiple platforms however there are budgetary and IT implications to be considered.
Know Your Organisation
When renewing a contract with your existing vendor or changing product, it is important to understand:
- The news requirements of your organisation
- How the news requirements of your organisation have changed since vendor contracts were last negotiated
- Whether your current news aggregation tools fulfil your needs
- If there are proposed changes to your existing products
- Whether alternative tools are already being subscribed to in other departments
- What the IT requirements will be
- Whether you have the correct expertise in-house or if additional training would be required.
Renegotiating or setting up new vendor contracts is not a quick exercise. Renewing vendor contracts is an excellent time to examine new products. Discuss changes with your provider. Remember contract negotiations are a two-way discussion. State your requirements. Negotiate your needs. Do not be afraid to ask. Request a trial of the service.
Evaluate the potential sources by:
- Ease of use
- Relevance of sources covered
- Search functions
- Reporting formats
- Terms and conditions of use
- Potential value to the organisation.
FreePint Subscribers can log in now to read more about the marketplace for news aggregation products in Claire’s full article. Log in to view Market Map: the Options in News Aggregation & Beyond.
Editor's Note: Beyond Aggregation
This article is part of the FreePint Topic Series: Beyond Aggregation, which runs from October to November 2013. Register your interest, and you'll get pre-notification of when registration opens for any webinars in this series, as well as a free copy of the FreePint Report: Buyer's Guide on News Content when we publish in November.
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- Blog post title: Selecting the Right News Aggregation Product
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