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All Journal International Journal of Science and Society (IJSOC)
Kenny Richard
Social Computing Lab HP Labs Palo Alto, California
Materials Science & Nanotechnology Social Sciences

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Predicting the Future With Social Media Kenny Richard
International Journal of Science and Society Vol 3 No 1 (2021): International Journal of Science and Society (IJSOC)
Publisher : GoAcademica Research & Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (492.472 KB) | DOI: 10.54783/ijsoc.v3i1.266

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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