User-generated content

Abstract: Traditionally, consumers used the Internet to simply expend content: they read it, they watched it, and they used it to buy products and services. Increasingly, however, consumers are utilizing platforms – such as content sharing sites, blogs, social networking, and wikis – to create, modify, share, and discuss Internet content. This represents the social media phenomenon, which can now significantly impact a firm’s reputation, sales, and even survival. Yet, many executives eschew or ignore this form of media because they don’t understand what it is, the various forms it can take, and how to engage with it and learn. In response, we present a framework that defines social media by using seven functional building blocks: identity, conversations, sharing, presence, relationships, reputation, and groups. As different social media activities are defined by the extent to which they focus on some or all of these blocks, we explain the implications that each block can have for how firms should engage with social media. To conclude, we present a number of recommendations regarding how firms should develop strategies for monitoring, understanding, and responding to different social media activities.

Abstract: In recent years, social media has become ubiquitous and important for social networking and content sharing. And yet, the content that is generated from these websites remains largely untapped. In this paper, we demonstrate how social media content can be used to predict real-world outcomes. In particular, we use the chatter from Twitter.com to forecast box-office revenues for movies. We show that a simple model built from the rate at which tweets are created about particular topics can outperform market-based predictors. We further demonstrate how sentiments extracted from Twitter can be utilized to improve the forecasting power of social media.

Abstract: Recommender systems have the effect of guiding users in a personal- ized way to interesting objects in a large space of possible options. Content-based recommendation systems try to recommend items similar to those a given user has liked in the past. Indeed, the basic process performed by a content-based recom- mender consists in matching up the attributes of a user profile in which preferences and interests are stored, with the attributes of a content object (item), in order to recommend to the user new interesting items. This chapter provides an overview of content-based recommender systems, with the aim of imposing a degree of order on the diversity of the different aspects involved in their design and implementation. The first part of the chapter presents the basic concepts and terminology of content- based recommender systems, a high level architecture, and their main advantages and drawbacks. The second part of the chapter provides a review of the state of the art of systems adopted in several application domains, by thoroughly describ- ing both classical and advanced techniques for representing items and user profiles. The most widely adopted techniques for learning user profiles are also presented. The last part of the chapter discusses trends and future research which might lead towards the next generation of systems, by describing the role of User Generated Content as a way for taking into account evolving vocabularies, and the challenge of feeding users with serendipitous recommendations, that is to say surprisingly interesting items that they might not have otherwise discovered.