Predicting the Future with Social Media

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 part...

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Vydáno v:2010 IEEE/WIC/ACM International Conference on Web Intelligence and Intelligent Agent Technology Ročník 1; s. 492 - 499
Hlavní autoři: Asur, Sitaram, Huberman, Bernardo A.
Médium: Konferenční příspěvek
Jazyk:angličtina
Vydáno: IEEE 01.08.2010
Témata:
Accuracy
attention
Blogs
Correlation
Forecasting
Motion pictures
prediction
Predictive models
Reviews
social media
Social networking (online)
Videos
ISBN:9781424484829, 1424484820
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Shrnutí: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 utilized to improve the forecasting power of social media.
ISBN:9781424484829
1424484820
DOI:10.1109/WI-IAT.2010.63