Warning system for online market research - Identifying critical situations in online opinion formation

Abstract: 

More and more consumers are relying on online opinions when making purchasing decisions. For this reason, companies must have knowledge of the actual standing of their products on the Web. A warning system for online market research is being proposed which allows the identification of critical situations in online opinion formation. When critical situations are detected, warnings are subsequently sent to marketing managers and thus allowing marketers the ability to initiate preventive measures. The warning system operates on a knowledge base which contains product-related success values, online opinions and patterns of social interactions. This knowledge is acquired using methods coming from information extraction, text mining and social network analysis. Based on this knowledge the warning system judges situations accordingly. For this purpose, a neuro-fuzzy approach is chosen which learns linguistic rules from data. These rules are employed to estimate future situations. The warning system is applied to two scenarios and yields good results. An evaluation shows that all components of the warning system outperform alternative methods.