Social Media Platforms have become an important part of our daily lives. Over a period of time, the use of platforms like Facebook, Twitter, and Snap has evolved. Initially, the use of these platforms was meant for connecting with friends and sharing information. But now these established firms are integrating activities that range from marketing and promoting to selling and buying. Not only that the stream alternative data available on such platforms are capturing real-time events. These alerts are allowing emergency teams to take immediate action. For markets, real-time alerts mean looking for events that potentially could be market movers. But, relying heavily on the information available on social media comes with some caveats — Fake news being the biggest hurdle!