Information extracted from social media streams has been leveraged to forecast the outcome of a large number of real-world events, from political elections to stock market fluctuations. An increasing amount of studies demonstrates how the analysis of social media conversations provides cheap access to the wisdom of the crowd. However, extents and contexts in which such forecasting power can be effectively leveraged are still unverified at least in a systematic way. It is also unclear how social-media-based predictions compare to those based on alternative information sources. To address these issues, here we develop a machine learning framework that leverages social media streams to automatically identify and predict the outcomes of soccer matches. We focus in particular on matches in which at least one of the possible outcomes is deemed as highly unlikely by professional bookmakers. We argue that sport events offer a systematic approach for testing the predictive power of social media conversations, and allow to compare such power against the rigorous baselines set by external sources. Despite such strict baselines, our framework yields above 8 marginal profit when used to inform simple betting strategies. The system is based on real-time sentiment analysis and exploits data collected immediately before the game start, allowing for bets informed by its predictions. We first discuss the rationale behind our approach, then describe the learning framework, its prediction performance and the return it provides as compared to a set of betting strategies. To test our framework we use both historical Twitter data from the 2014 FIFA World Cup games (10 sample), and real-time Twitter data (full stream) collected by monitoring the conversations about all soccer matches of the four major European tournaments (FA Premier League, Serie A, La Liga, and Bundesliga), and the 2014 UEFA Champions League, during the period between October, 25th 2014 and November, 26th 2014.
This work, to the best of our knowledge, is the first to exploit social media streams to predict soccer matches. However, various recent studies have approached related problems @cite_29 , such as predicting the outcome of political elections @cite_18 @cite_11 , talent shows @cite_7 , movies success @cite_3 @cite_31 , stock-market fluctuations @cite_24 @cite_6 , political protests @cite_19 @cite_23 @cite_15 @cite_21 , and diffusion of information @cite_26 @cite_16 .
@cite_18 @cite_26 @cite_7 @cite_15 @cite_29 @cite_21 @cite_3 @cite_6 @cite_24 @cite_19 @cite_23 @cite_31 @cite_16 @cite_11
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Is social media a valid indicator of political behavior? There is considerable debate about the validity of data extracted from social media for studying offline behavior. To address this issue, we show that there is a statistically significant association between tweets that mention a candidate for the U.S. House of Representatives and his or her subsequent electoral performance. We demonstrate this result with an analysis of 542,969 tweets mentioning candidates selected from a random sample of 3,570,054,618, as well as Federal Election Commission data from 795 competitive races in the 2010 and 2012 U.S. congressional elections. This finding persists even when controlling for incumbency, district partisanship, media coverage of the race, time, and demographic variables such as the district's racial and gender composition. Our findings show that reliable data about political behavior can be extracted from social media. We present TwitterMonitor, a system that performs trend detection over the Twitter stream. The system identifies emerging topics (i.e. 'trends') on Twitter in real time and provides meaningful analytics that synthesize an accurate description of each topic. Users interact with the system by ordering the identified trends using different criteria and submitting their own description for each trend. We discuss the motivation for trend detection over social media streams and the challenges that lie therein. We then describe our approach to trend detection, as well as the architecture of TwitterMonitor. Finally, we lay out our demonstration scenario. We present a contribution to the debate on the predictability of social events using big data analytics. We focus on the elimination of contestants in the American Idol TV shows as an example of a well defined electoral phenomenon that each week draws millions of votes in the USA. This event can be considered as basic test in a simplified environment to assess the predictive power of Twitter signals. We provide evidence that Twitter activity during the time span defined by the TV show airing and the voting period following it correlates with the contestants ranking and allows the anticipation of the voting outcome. Twitter data from the show and the voting period of the season finale have been analyzed to attempt the winner prediction ahead of the airing of the official result. We also show that the fraction of tweets that contain geolocation information allows us to map the fanbase of each contestant, both within the US and abroad, showing that strong regional polarizations occur. The geolocalized data are crucial for the correct prediction of the final outcome of the show, pointing out the importance of considering information beyond the aggregated Twitter signal. Although American Idol voting is just a minimal and simplified version of complex societ al phenomena such as political elections, this work shows that the volume of information available in online systems permits the real time gathering of quantitative indicators that may be able to anticipate the future unfolding of opinion formation events. We examine the temporal evolution of digital communication activity relating to the American anti-capitalist movement Occupy Wall Street. Using a high-volume sample from the microblogging site Twitter, we investigate changes in Occupy participant engagement, interests, and social connectivity over a fifteen month period starting three months prior to the movement's first protest action. The results of this analysis indicate that, on Twitter, the Occupy movement tended to elicit participation from a set of highly interconnected users with pre-existing interests in domestic politics and foreign social movements. These users, while highly vocal in the months immediately following the birth of the movement, appear to have lost interest in Occupy related communication over the remainder of the study period. 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. Social media represent powerful tools of mass communication and information diffusion. They played a pivotal role during recent social uprisings and political mobilizations across the world. Here we present a study of the Gezi Park movement in Turkey through the lens of Twitter. We analyze over 2.3 million tweets produced during the 25 days of protest occurred between May and June 2013. We first characterize the spatio-temporal nature of the conversation about the Gezi Park demonstrations, showing that similarity in trends of discussion mirrors geographic cues. We then describe the characteristics of the users involved in this conversation and what roles they played. We study how roles and individual influence evolved during the period of the upheaval. This analysis reveals that the conversation becomes more democratic as events unfold, with a redistribution of influence over time in the user population. We conclude by observing how the online and offline worlds are tightly intertwined, showing that exogenous events, such as political speeches or police actions, affect social media conversations and trigger changes in individual behavior. 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. Behavioral economics tells us that emotions can profoundly affect individual behavior and decision-making. Does this also apply to societies at large, i.e. can societies experience mood states that affect their collective decision making? By extension is the public mood correlated or even predictive of economic indicators? Here we investigate whether measurements of collective mood states derived from large-scale Twitter feeds are correlated to the value of the Dow Jones Industrial Average (DJIA) over time. We analyze the text content of daily Twitter feeds by two mood tracking tools, namely OpinionFinder that measures positive vs. negative mood and Google-Profile of Mood States (GPOMS) that measures mood in terms of 6 dimensions (Calm, Alert, Sure, Vital, Kind, and Happy). We cross-validate the resulting mood time series by comparing their ability to detect the public's response to the presidential election and Thanksgiving day in 2008. A Granger causality analysis and a Self-Organizing Fuzzy Neural Network are then used to investigate the hypothesis that public mood states, as measured by the OpinionFinder and GPOMS mood time series, are predictive of changes in DJIA closing values. Our results indicate that the accuracy of DJIA predictions can be significantly improved by the inclusion of specific public mood dimensions but not others. We find an accuracy of 87.6 in predicting the daily up and down changes in the closing values of the DJIA and a reduction of the Mean Average Percentage Error by more than 6 . Index Terms—stock market prediction — twitter — mood analysis. This paper describes early work trying to predict stock market indicators such as Dow Jones, NASDAQ and S&P 500 by analyzing Twitter posts. We collected the twitter feeds for six months and got a randomized subsample of about one hundredth of the full volume of all tweets. We measured collective hope and fear on each day and analyzed the correlation between these indices and the stock market indicators. We found that emotional tweet percentage significantly negatively correlated with Dow Jones, NASDAQ and S&P 500, but displayed significant positive correlation to VIX. It therefore seems that just checking on twitter for emotional outbursts of any kind gives a predictor of how the stock market will be doing the next day. Twitter sentiment was revealed, along with popularity of Egypt-related subjects and tweeter influence on the 2011 revolution. Social movements rely in large measure on networked communication technologies to organize and disseminate information relating to the movements’ objectives. In this work we seek to understand how the goals and needs of a protest movement are reflected in the geographic patterns of its communication network, and how these patterns differ from those of stable political communication. To this end, we examine an online communication network reconstructed from over 600,000 tweets from a thirty-six week period covering the birth and maturation of the American anticapitalist movement, Occupy Wall Street. We find that, compared to a network of stable domestic political communication, the Occupy Wall Street network exhibits higher levels of locality and a hub and spoke structure, in which the majority of non-local attention is allocated to high-profile locations such as New York, California, and Washington D.C. Moreover, we observe that information flows across state boundaries are more likely to contain framing language and references to the media, while communication among individuals in the same state is more likely to reference protest action and specific places and times. Tying these results to social movement theory, we propose that these features reflect the movement’s efforts to mobilize resources at the local level and to develop narrative frames that reinforce collective purpose at the national level. We predict IMDb movie ratings and consider two sets of features: surface and textual features. For the latter, we assume that no social media signal is isolated and use data from multiple channels that are linked to a particular movie, such as tweets from Twitter and comments from YouTube. We extract textual features from each channel to use in our prediction model and we explore whether data from either of these channels can help to extract a better set of textual feature for prediction. Our best performing model is able to rate movies very close to the observed values. Trending topics are the online conversations that grab collective attention on social media. They are continually changing and often reflect exogenous events that happen in the real world. Trends are localized in space and time as they are driven by activity in specific geographic areas that act as sources of traffic and information flow. Taken independently, trends and geography have been discussed in recent literature on online social media; although, so far, little has been done to characterize the relation between trends and geography. Here we investigate more than eleven thousand topics that trended on Twitter in 63 main US locations during a period of 50 days in 2013. This data allows us to study the origins and pathways of trends, how they compete for popularity at the local level to emerge as winners at the country level, and what dynamics underlie their production and consumption in different geographic areas. We identify two main classes of trending topics: those that surface locally, coinciding with three different geographic clusters (East coast, Midwest and Southwest); and those that emerge globally from several metropolitan areas, coinciding with the major air traffic hubs of the country. These hubs act as trendsetters, generating topics that eventually trend at the country level, and driving the conversation across the country. This poses an intriguing conjecture, drawing a parallel between the spread of information and diseases: Do trends travel faster by airplane than over the Internet? Purpose – Social media provide an impressive amount of data about users and their interactions, thereby offering computer and social scientists, economists, and statisticians – among others – new opportunities for research. Arguably, one of the most interesting lines of work is that of predicting future events and developments from social media data. However, current work is fragmented and lacks of widely accepted evaluation approaches. Moreover, since the first techniques emerged rather recently, little is known about their overall potential, limitations and general applicability to different domains. Therefore, better understanding the predictive power and limitations of social media is of utmost importance. Design methodology approach – Different types of forecasting models and their adaptation to the special circumstances of social media are analyzed and the most representative research conducted up to date is surveyed. Presentations of current research on techniques, methods, and empirical studies ai...