Social media analytic is using data analysis tools and methods while highlighting humanity (human’s feelings, behaviors and etc.) on social media data. It is a data analysis process on large amount of social media data and it draws specific patterns from the data for certain applications. It is not merely data mining or data analysis technology, actually it also cares about humanity.
2.1 Social media
Social media is the data source of social media analytic. It contains various of modern communication tools, such as Twitter, Facebook, Wechat and etc., which enable people to share their opinions, feelings, and even daily life with others. Social media is quite different from traditional media, like broadcast and television, since it is user-based (users generate information) whereas the traditional media is center-controlled.
2.2 Data analysis
Data analysis involves the technologies or methods in analyzing social media data. According to Wikipedia, it is about inspecting, cleaning and modeling data, with the purpose of discovering useful information aiding in decision-making.
Human-based is the core of social media analytic. It means taking care of humanity, meeting people’s need and safeguarding people’s benefit. As we know, social media involves with social network (people) and it is human that generate all the social media data. Therefore, focusing on human can bring ‘temperature’ to the data analysis work: we are doing data analysis for human, either by providing them some beneficial suggestions or by satisfying their certain needs.
Source : Google
3.1 Food price prediction with social media signals
The research team explored using Twitter data to estimate real-time food price in Indonesia. The hypothesis was that food price variation could be modeled by the prices reported in Twitter and current price of a commodity might be inferred by its price the day before. The results showed that modeled prices of four commodities (beef, chicken, onion and chili) closely approximated the official food prices.
3.2 Sentimental analysis on Wechat
People tend to express their opinions or feelings on Wechat. By collecting and analyzing these data, we can know public’s attitude towards current hot spots, such like Wuhan influenza, which might help the government to take corresponding measures.