Twitter as a new form of social media potentially contains useful information that opens new opportunities for content analysis on tweets. This paper examines the predictive power of Twitter regarding the US presidential election of 2012. For this study, we analyzed 32 million tweets regarding the US presidential election by employing a combination of machine learning techniques. We devised an advanced classifier for sentiment analysis in order to increase the accuracy of Twitter content analysis. We carried out our analysis by comparing Twitter results with traditional opinion polls. In addition, we used the Latent Dirichlet Allocation model to extract the underlying topical structure from the selected tweets. Our results show that we can determine the popularity of candidates by running sentiment analysis. We can also uncover candidates popularities in the US states by running the sentiment analysis algorithm on geo-tagged tweets. To the best of our knowledge, no previous work in the field has presented a systematic analysis of a considerable number of tweets employing a combination of analysis techniques by which we conducted this study. Thus, our results aptly suggest that Twitter as a well-known social medium is a valid source in predicting future events such as elections. This implies that understanding public opinions and trends via social media in turn allows us to propose a cost- and time-effective way not only for spreading and sharing information, but also for predicting future events.
Surprisingly, based on the analysis of 50 million tweets they collected, proved that even noisy information in social media such as Twitter can be used as a proxy for public opinions @cite_33 . They found that Twitter data provides more than factual information about public opinions on a specific topic, yielding better results than information from the prediction market. For instance, Twitter data can be used as social sensors for real-time events and to forecast the box-office revenues for movies @cite_13 . The rate at which tweets posted about a particular movie has a strong positive correlation with the box-office gross. In addition, Twitter as a platform can reflect offline political sentiment validly @cite_7 , and it can mirror consumer confidence. Interestingly, even a mere number of Twitter data dominated by a small number of heavy users predicted an election result, such as the results of the 2011 Irish general election @cite_30 , and even came close to traditional election polls @cite_7 . This aptly suggests that social media data, especially Twitter, can replace the costly- and time-intensive polling methods @cite_14 . Thus, we argue that social media can be used as a credible source for predicting the near future.
@cite_30 @cite_14 @cite_33 @cite_7 @cite_13
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The body of content available on Twitter undoubtedly contains a diverse range of political insight and commentary. But, to what extent is this representative of an electorate? Can we model political sentiment effectively enough to capture the voting intentions of a nation during an election capaign? We use the recent Irish General Election as a case study for investigating the potential to model political sentiment through mining of social media. Our approach combines sentiment analysis using supervised learning and volume-based measures. We evaluate against the conventional election polls and the final election result. We find that social analytics using both volume-based measures and sentiment analysis are predictive and wemake a number of observations related to the task of monitoring public sentiment during an election campaign, including examining a variety of sample sizes, time periods as well as methods for qualitatively exploring the underlying content. We connect measures of public opinion measured from polls with sentiment measured from text. We analyze several surveys on consumer confidence and political opinion over the 2008 to 2009 period, and find they correlate to sentiment word frequencies in contemporaneous Twitter messages. While our results vary across datasets, in several cases the correlations are as high as 80 , and capture important large-scale trends. The results highlight the potential of text streams as a substitute and supplement for traditional polling. Twitter is a microblogging website where users read and write millions of short messages on a variety of topics every day. This study uses the context of the German federal election to investigate whether Twitter is used as a forum for political deliberation and whether online messages on Twitter validly mirror offline political sentiment. Using LIWC text analysis software, we conducted a content-analysis of over 100,000 messages containing a reference to either a political party or a politician. Our results show that Twitter is indeed used extensively for political deliberation. We find that the mere number of messages mentioning a party reflects the election result. Moreover, joint mentions of two parties are in line with real world political ties and coalitions. An analysis of the tweets’ political sentiment demonstrates close correspondence to the parties' and politicians’ political positions indicating that the content of Twitter messages plausibly reflects the offline political landscape. We discuss the use of microblogging message content as a valid indicator of political sentiment and derive suggestions for further research. 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 utilized to improve the forecasting power of social media.