Wednesday, October 20, 2010

A New Model for Predicting Social Media Impact

Because of the large amount of people using social networking sites, such as facebook or twitter, the information we put on these sites is used in many ways by all different kinds of companies in different industries. This highlights one aspect of pulling data from these sites. Jason Harper, an economist, developed a model that is able to predict sales of products by measuring the rate that they are mentioned on social media sites.
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2 comments:

  1. AnonymousOctober 21, 2010 at 11:02 AM

    That's how sites like facebook make a profit. But I don't know the extent to which they manipulate our information.

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  2. Cheri TheisenOctober 22, 2010 at 9:26 PM

    I think this is a great example of how technology increases worker efficiency. With this model, marketers can gauge the success of an ad campaign earlier than they could in the past. The ability to identify a poor campaign early allows marketers to bail out or correct the campaign. The end result could be greater sales for the company and better ad campaigns.

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