Novel Method to Analyze and Forecast Social Impact on Macro and Micro Economies Using Social Media Data

S. Y. Weerasinghe, G. U. Ganegoda, N. Waduge, A. Udadeniya, R. de Zoysa

Abstract

Stock markets are often seen to be the backbone an economy, the variations in which could be indicative of the prevailing condition of the economy. Although, the high vulnerability to external factors, it is often a natural challenge to quantify the impact. The aim of the research is to identify and isolate the true performance of the listed companies by adjusting the impact from the external events – which is quantified using a novel approach considering social media as a platform. The resultant approach is highly generalizable and could be applicable for any industry which is highly significant compared to previous work. Hence, this could be seen useful in the perspective of stakeholders such as potential investors, clients and governments as well. 

Keywords: Stock market Prediction, Social Media Analysis, Natural Language Processing, Performance Isolation, Macro Economic Forces

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