(When) Can Social Media Buzz Data Replace Traditional Surveys for Sales Forecasting?

18 Pages Posted: 28 Jul 2020

See all articles by Yuying Shi

Yuying Shi

Texas A&M University (TAMU), Commerce

Ekaterina Karniouchina

Mills College

Can Uslay

Rutgers Business School

Date Written: April 1, 2020


Producing reliable sales forecasts for new products is notoriously difficult. Traditional surveys have been popular for decades but they are relatively cumbersome and expensive to implement. Use of readily available data from social networks is becoming increasingly popular. Can the customer buzz measures obtained from social networks be a convenient and inexpensive substitute of traditional tools? Using movie industry as a backdrop, the authors compare forecasts derived from a large-scale purchase intention survey with those obtained via social networks. They find that while the survey approach is more reliable in predicting performance overall, customer buzz-based forecasts outperform surveys under conditions of high uncertainly, e.g., for niche and low-budget movies.

Keywords: big data, social media, marketing, marketing research

Suggested Citation

Shi, Yuying and Karniouchina, Ekaterina and Uslay, Can, (When) Can Social Media Buzz Data Replace Traditional Surveys for Sales Forecasting? (April 1, 2020). Rutgers Business Review, Vol. 5, No. 1, 2020, pp.43-60. , Available at SSRN: https://ssrn.com/abstract=3660145

Yuying Shi (Contact Author)

Texas A&M University (TAMU), Commerce ( email )

2600 South Neal Street
Commerce, TX 75428
United States

Ekaterina Karniouchina

Mills College ( email )

5000 MacArthur Boulevard
Oakland, CA 94613-1301
United States

Can Uslay

Rutgers Business School ( email )

100 Rockafeller Road
Piscataway, NJ 08854-8054
United States

HOME PAGE: http://www.business.rutgers.edu/faculty-research/directory/uslay-can

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
PlumX Metrics