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Optimizing Sales Forecasting With Sentiment Analysis

  • What does the end consumers think about our recently launched smartphone and how does this translate to future sales prospects? What are the implications of economic sanctions on our business? Economists and business analysts are facing these questions in their daily work. Sentiment analysis allows answering such questions as it enables corporations to evaluate web content on a large scale. Exploring the possibility of inte-grating global sentiments into the sales forecast is the aim of this research paper. Twitter has been chosen as the sole source for data retrieval due to its unique property of being a social network-, news broadcasting- and advertising-platform. The analysis reveals the opportunities and limits of sentiment analysis and its integration capability. The results show that a causal relationship among the public's opinion and sales development is present. Sanctions are reflected in the voice of the public with immediate effect but have moderate impact on sales in the short-term. In the midterm, such political and economic measures could impact the sentiments and – among other micro-economic factors –translate into decreasing sales. Ultimately, the sentiment analysis is suitable for a con-tinuous monitoring procedure and thus optimizes the comprehensiveness of convention-al forecasting methods.

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Metadaten
Author:Kadir Ider
Referee:Hansjörg Herr
Advisor:Dennis Uckel
Document Type:Master's Thesis
Language:English
Date of first Publication:2021/01/01
Publishing Institution:Hochschulbibliothek HWR Berlin
Granting Institution:Hochschule für Wirtschaft und Recht Berlin
Release Date:2021/09/14
Tag:Huawei; Sales Forecasting; Sanctions; Sentiment Analysis; Twitter
Page Number:91
Institutes:FB I - Wirtschaftswissenschaften / Business Intelligence and Process Management M.Sc.
Licence (German):License LogoUrheberrechtsschutz