Facebook is making a variety of product announcements on Wednesday, the most significant of which is a renovation of the News Feed that users see when they log into their accounts and new filtering tools.

The News Feed will be moving to a real-time format, versus the current updates that happen “every 10-15 minutes” according to the company.

We're at a point now of expecting this information sharing to keep moving faster and faster, Facebook founder Mark Zuckerburg said.

Today we're taking a few steps to move in that direction. This isn't something we've been working on for a long time ... we're not sure exactly where this is going to end up.

Facebook has already been experimenting with real-time via the “Live Feed” tab users currently can access from their homepage. This real time feed will be similar to that of micro blogging site, Twitter.

Other changes will also include refinements to Facebook’s filtering options to make it easier to see content from only specific users in this new, real-time view.

The company also said it’s overhauling its Pages system to make them more like profiles, with the addition of status updates from the page owner. This is ideally for users with a lot of friends or a large audience. The new page format starting later today will include U2, CNN, and Michael Phelps.

Twitter Software Facebook