|
Title:
|
AUTOMOBILE SALES FORECAST USING SOCIAL
LISTENING AND CONDITIONS TO FORECAST SALES |
|
Author(s):
|
Hisaki Goto and Yukiko Goto |
|
ISBN:
|
978-989-8704-48-1 |
|
Editors:
|
Miguel Baptista Nunes, Pedro Isaías and Philip Powell |
|
Year:
|
2023 |
|
Edition:
|
Single |
|
Keywords:
|
Twitter, Alternative Data, Social Listening, Automobile Sales Forecasts |
|
Type:
|
Full Paper |
|
First Page:
|
127 |
|
Last Page:
|
137 |
|
Language:
|
English |
|
Cover:
|
|
|
Full Contents:
|
click to dowload 
|
|
Paper Abstract:
|
The amount of information created by end-users has become massive; it is often referred to as an 'information explosion',
and social media is a typical tool for gathering that information. We gathered and analyzed tweets related to automobiles
in Japan from June 2018 to May 2020, attempting to create a formula to forecast future automobile sales through content
posted on Twitter. We found that forecasting the sale of automobiles is possible when the number of tweets for a model is
large, which indicates that social media can be beneficial as alternative data to forecast product sales. Although we could
successfully make a sales forecast on certain models with a large number of tweets, all the models were not possible to
forecast. However, we propose a hypothesis that forecasting sales using Twitter is possible only after a product enters the
so-called 'cash cow' phase under the Product Portfolio Matrix developed by Boston Consulting Group, which creates
business strategy using market growth rates and relative markets. |
|
|
|
|
|
|
