1Determining The Peoples Oscars
Like previous social sentiment analyses on the Super Bowl, World Series, film and retail, IBM and USC’s Annenberg Innovation Lab conducted an analysis of the Twitterverse to determine the “The People’s Oscars.” The Academy Award project was done in partnership with the Los Angeles Times and demonstrated how applying analytics to big data could be the next game-changer for Hollywood and how these tools are transforming journalism.
2The Analytics Powering the Project
New analytics technologies and advances in natural language processing make it possible to understand positive, negative and neutral sentiments; distinguish irony; and even apply “machine learning” to figure out which tweets are just background noise and which are truly important. Through analytics, users can glean actionable insight from what the public is saying through social media outlets and can then respond to and engage with their key stakeholders in a way that wasn’t possible before.
By analyzing the number of tweets-and the positive or negative nature of the tweets-a movie or person receives, USC students were able to predict who “the people” thought should win the Academy Awards for Best Actress, Best Actor and Best Picture. You can see all the results, and how the “people’s choice” changed over time, here.
7What It Means
IBM’s collaboration with USC is much more than an analysis of fan favorites-it’s an example of how organizations can better understand their audience preferences about products and services and use social media to improve those products, services, marketing and branding efforts. In the case of the Oscar initiative, the project demonstrated how movie studios can use data to improve box office results. Applying analytics to big data shows the powerful influence social media users can have on organizations, and how social media data can impact the bottom line for businesses of all sizes in all industries.