Impact of Social Media Marketing in Rural India

In recent years, social media has become ubiquitousand important for social networking and content sharing. Andyet, the content that is generated from these websites remainslargely untapped. In this paper, we demonstrate how social mediacontent can be used to predict real-world outcomes. In particular,we use the chatter from Twitter.com to forecast box-officerevenues for movies. We show that a simple model built fromthe rate at which tweets are created about particular topics canoutperform market-based predictors. We further demonstrate how sentiments extracted from Twitter can be further utilized toimprove the forecasting power of social media.