Predicting Product Performance with Social Media

Liviu Lica () and Mihaela Tutä‚ ()

Informatica Economica, 2011, vol. 15, issue 2, 46-56

Abstract: Last 20 years brought massive growth in IT&C world. Mobile solutions such as netbooks, laptops, mobile phones, tablets enable the wireless connection to the Internet. Anyone can ac-cess it anytime and anywhere. In this context, a part of the activities from the real world have a correspondence in the online discussions. Social media in general and social networks in particular have turned into marketing tools for organizations and a place where people can express their opinions and attitudes about products.The paper shows how social media can be used for predicting the success of a product or service. To showcase this, two case studies are presented; a test to prove that the conversations that take place in social media are a good indicator of success and the second is an exercise to predict the winner of the Oscar for best picture in 2011.

Keywords: Social Media; Social Networks; Prediction; Movie; Internet (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:aes:infoec:v:15:y:2011:i:2:p:46-56

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