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Posts tagged ‘Federal Reserve System’

26
Sep

Sentiment Analytics, Twitter, Federal Reserve and Consumer Pyschology


Social media captures consumer sentimentWhat do these have in common:  The Federal Reserve Bank, Text Analytics, Facebook, Statistical Computations, Big Data and Keyword/Phrase/Boolean searching?

Interestingly these are more related than you think.

The Federal Reserve wants to develop a next generation Consumer Listening Platform based on social media sentiment analytics (or opinion mining) to know what people are saying and commenting about the economy.

The goal for the Fed is to better understand which way consumer confidence is trending. Microeconomics and psychology have always been interlinked. With social media, a real-time opportunity exists to monitor local, national and even global consumer psychology. And, coupled with analyzing e-commerce transactions, insightful linkage between consumer psychology and behavior (what they are spending money on and where) is possible. Read more »

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