Finmag (Finmag)
Finance  |  November 29, 2010 14:09:36

Will the crisis? Ask the network!

Around social networking has grown in recent years scientific ecosystem with forays into every corner of human activity. One of the newest disciplines - social prediction - allows user data to estimate the near future. Fresh, crispy yet the study of two prestigious universities in the world shows how gossip in social networks used to estimate the market development.

Social prediction using evidence from two emerging areas: data mining and data analysis. The huge user data files (typically hundreds of thousands of updates or tvítů) using statistical analysis can obtain unique information. Typically the "mood" of a particular group of users. In practice, to be used today to estimate the film profitswith fantastic accuracy - to millions of dollars.

The most frequently used to estimate two popular social networks Facebook and Twitter. The third variant of the statistics are searching Google or Yahoo. Data mining methods are therefore very different - from simple counting the number of fans on Facebook (needed to determine the results of the election ) to complex mathematical analysis (such studiesAs it relates to search and search of turnover). The only criterion is the reliability of predictions. Particularly attractive is the prediction of exchange areas. Social prediction rules can be applied to her?

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