Social Media As Soothsayer, Predicting Future Outcomes

Social Media As Soothsayer, Predicting Future Outcomes

HP's Social Computing Lab recently published a paper that details how the analysis of Twitter streams can accurately predict future outcomes.

Scott Lachut, PSFK Labs
  • 5 april 2010

We’ve watched as social networking services like Twitter have evolved beyond simple chatter among friends into informational hubs, able to provide breaking news and diagnose of a host of municipal issues like traffic and public transit in real-time, but what can these sites tell us about things that haven’t happened yet? A recently published paper by HP’s Social Computing Lab titled Predicting the Future With Social Media discovered that by analyzing Twitter streams for mentions of upcoming movies, researchers could accurately determine future revenues. This process became even more exact when factoring in how favorable the references were. The algorithm was so precise in fact, that it outperformed a leading industry firm, the Hollywood Stock Exchange.

Access this article for free
Fill in your email below and you'll gain access to this article while also receiving a number of membership features as part of a special 30-day trial.
*Already a member? Log in here

Learn About Our Membership Services

Need Research Help?
As a member you can ask us any research questions and get complimentary research assistance with a 4-day turnaround. Reports inclde stats, quotes, and best-inclass examples on research topics.
Remain Informed & Strategic
We publish several trends reports each month. By becoming a member you will have access to over 100 existing reports, plus a growing catalog of deep topical analysis and debrief-style reports so you always remain in the know.
See Trends Come To Life
Meet your peers and immerse yourself in monthly trend and innovation webinars and discounted conferences.
No search results found.