Linking consumer confidence index and social media sentiment analysis

Shayaa, Shahid and Ainin, Sulaiman and Jaafar, Noor Ismawati and Bahri, Shamshul and Phoong, Seuk Wai and Yeong, Wai Chung and Al-Garadi, Mohammed Ali and Muhammad, Ashraf and Piprani, Arsalan Zahid (2018) Linking consumer confidence index and social media sentiment analysis. Cogent Business & Management, 5 (1). pp. 1-12. ISSN 2331-1975

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Official URL: https://doi.org/10.1080/23311975.2018.1509424

Abstract

This study aims to analyse the link (correlation) between and the official CCI and social media big data (via sentiment analysis) on consumer purchasing behaviour for two types of products over the course of two years (24 months, from January 2015 to December 2016). The CCI data was obtained from the Malaysian Institute of Economic Research (MIER) while the sentiment analysis was obtained from twitter. The results indicate that there is a significant but very small relationship between CCI and social media sentiment analysis. On the basis of the results we conclude that social media can offer huge a huge volume of data on consumer confidence, the analysis of which can be conducted at a more rapid time and integrated with existing methods in a synergistic way to refine the accuracy of the CCI using data from far larger populations.

Item Type: Article
Uncontrolled Keywords: sentiment analysis; consumer confidence index; correlations
Subjects: H Social Sciences > HF Commerce
H Social Sciences > HF Commerce > Business
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Divisions: Faculty of Business and Accountancy
Depositing User: Ms. Juhaida Abd Rahim
Date Deposited: 13 Mar 2019 04:28
Last Modified: 13 Mar 2019 04:28
URI: http://eprints.um.edu.my/id/eprint/20691

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