For years, analysts have predicted that the real value of the social networking service doesn’t lie in serving advertising to users, but rather in serving up millions of points of real-time data to anyone who can wring useful intelligence out of it.
A new paper published by an Indiana University professor, combined with recent practices on Wall Street, suggest that Twitter may be a goldmine of valuable financial information.
Power to the people: A professor’s analysis of Tweets proved 87 per cent accurate in predicting stock prices
Data: Social services like Twitter may prove invaluable when it comes to real-time financial information
Mr Bollen’s analysis of Tweets was said to have an 87 per cent chance of successfully predicting stock prices within three or four days of online discussion of the company in question.
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