Social media has been used for many things, but could predicting box office results be the next? Two researchers at HP Labs have been trying to use twitter feeds to predict how well a movie fares in its opening weekend. Apparently, they say that twitter feeds have an accuracy of up to 97.3%, by tracking whether the sentiment expressed are positive, neutral or negative.
LA Times - So say two Silicon Valley researchers who claim they have discovered a way to use the popular social media service to gauge real-time interest in movies and accurately predict how they will perform at the box office on opening weekend. Sitaram Asur and Bernardo Huberman, two social computing scientists at HP Labs in Palo Alto, contend that computational formulas using Twitter feeds can predict with as much as 97.3% accuracy how a movie will perform in its first weekend of release.
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