Exploration of the Sentiment-Driven Forecasting Models for Predicting Consumer Purchase Patterns on Social Media
Author(s):
M KRISHNA KISHORE, Dr Subhani Shaik, Dr Bhavani Sankar Panda
Keywords:
Sentiment Driven Forecasting Models, Consumer Purchase Patterns, Social Media platforms, Machine Learning and deep learning, Sentiment analysis.
Abstract
This study explores the emerging filed of sentiment driven forecasting models for predicting consumer purchase patterns using social media data. As the evolution of social media platforms took place in a rapid pace, users purchase online, and social media platforms are playing pivotal role in shaping the consumer purchase behaviour. Therefore, it become vital for business to track this purchase behaviour by evaluating the user sentiments. The objective of this study is to find how forecasting models driven by sentiments used to predict the consumer purchase patterns by examining the current methodologies, technological advancements, and challenges in this field there by providing the path for further investigation. This review employs 15 selected research articles related to the objective and the articles are critically analysed and divided into four themes to make the study more meaningful. As a result of the critical analysis key outcomes points to the role of machine learning and deep learning technologies in refining sentiment analysis. These techniques are useful in translating huge volumes of social media data into actionable insights thereby increasing the accuracy of consumer purchase predictions. It was made possible through the synergy between sentiment analysis and advanced statistical techniques. However, this study identified certain research gaps such as data noise, the complexity inherent in social media language, and the need for culturally adaptive algorithms that are more accurate, more exploration to intricate the mechanism of the relationship between sentiments, brand trust and consumer purchase behaviour. To address these limitations this study suggests the use of advanced real time data processing and investigation of diverse data analysis methods having the capability to increase the understanding of consumer purchase behaviour. This review helps researchers, marketers and company policy makers to understand the current advancements in sentiment driven forecasting models in social media consumer purchase behaviour predictions which can be utilized for innovations and business growth.
Article Details
Unique Paper ID: 163923

Publication Volume & Issue: Volume 10, Issue 12

Page(s): 714 - 724
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