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Predicting Product Performance with Social Media

by Predicting Product Performance, Social Media
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Abstract

In recent years, social media has become ubiquitous and important for social networking and content sharing. And yet, the content that is generated from these websites remains largely untapped. In this paper, we demonstrate how social media content can be used to predict real-world outcomes. In particular, we use the chatter from Twitter.com to forecast box-office revenues for movies. We show that a simple model built from the rate at which tweets are created about particular topics can outperform market-based predictors. We further demonstrate how sentiments extracted from Twitter can be further utilized to improve the forecasting power of social media.

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Readership Statistics

11 Readers on Mendeley
by Discipline
 
36% Business, Management and Accounting
 
36% Computer Science
 
27% Social Sciences
by Academic Status
 
36% Student > Doctoral Student
 
18% Student > Bachelor
 
18% Student > Ph. D. Student
by Country
 
18% Germany
 
9% Portugal
 
9% Switzerland

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